SBC Educational TrustRegistered

1. To advance education and / or promote cultural exchange by, among other things, the payment of grants and / or loans, the award of bursaries, the award of prizes, payment towards cultural exchanges that further an educational purpose both within the Scottish Borders area and further afield (including abroad), to such educational institutions, charities or other organisations or to such individuals deserving of benefit as the Trustees shall, in their sole and unfettered discretion, select as suitable recipients of such benefit, to be applied by such recipients for the charitable purposes of the advancement of education and / or the promotion of cultural exchange. 2. The expenses of creating and administering the Trust, and any tax payable in relation to the Trust, shall be met in priority to all other payments and transfers of assets out of the Trust Property.