The Charitable Assets TrustRegistered

The Trustees shall pay or apply the income of the Trust Fund and the whole or any part or parts of the capital thereof as the Trustees shall think fit to or for the benefit of such one or more trusts, organisations, institutions, societies or bodies established for charitable purposes as the Trustees in their sole discretion may from time to time select and that in such proportions, if more than one, and in such manner in all respects as the Trustees in their discretion shall think fit. Provided always that no trust, organisations, institution, society or body as aforesaid shall qualify for selection or for any payment being made to it by the trustees as aforesaid unless at the time of such selection and at the time when the payment is made it is a trust, organisation, institution, society or body which qualifies for tax exemptions available to charities.