Ronald R Wood's Educational Bequest Trust SCIORegistered

4 The organisation's purposes are: (a) To hold such sum, as my Trustees in their sole discretion shall decide, in Trust to make grants to persons resident in, born in or born to parents resident in Thornton at the time of their birth, over the age of sixteen years for the purpose of assisting such persons in undergoing full-time education or training including vocational studies or training to include without prejudice to the foregoing generality, apprenticeships or any other course of study leading to a recognised qualification or qualifications as to which my Trustees shall be the sole judges provided that (a) my Trustees shall have sole discretion to decide to whom such grants should be paid and (b) in no case shall any grant to any one person exceed the sum of THREE THOUSAND FIVE HUNDRED AND FIFTY POUNDS (£3,SS0) in any one year BUT DECLARING that my Trustees shall have power to review the said sum from time to time and at any time by reference to and application of the Retail Prices Index on 31 March of each year.