SBC Welfare TrustRegistered

1 The Trustees (as hereinafter defined) shall hold and apply the sum of £1 paid by us to them, and such other funds and assets as may from time to time be comprised in the Trust Property (as hereinafter defined), in trust for the following purposes ('the Trust Purposes'): (a) The prevention or relief of poverty. (b) The relief of those in need by reason of age, ill-health, disability, financial hardship or other disadvantage. or (c) The advancement of health, including the advancement of education in health. By, among other things, the payment of grants and / or loans to such charities or other organisations or to such individuals who are 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 either the prevention or relief of poverty or the relief of those in need or the advancement of health, as appropriate. 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.