11Trusts of charitable fund

11 Trusts of charitable fund

11 Trusts of charitable fund

Subject to—

(a) the appropriation thereout of the said sum of one hundred thousand pounds as in section four of this Act mentioned,

(b) the appropriation thereout of the sum of ten thousand pounds as in section ten of this Act mentioned,

(c) the retention thereout of such sums as may be necessary to recoup the trustee of the will and codicil of Thomas Walker deceased all expenditure incurred in the care, upkeep and maintenance of the lands in the Schedules to this Act described and the buildings thereon erected from the third day of March one thousand nine hundred and thirty-eight until the commencement of this Act,

(d) the retention thereout of such sums as may be necessary to defray the costs and expenses incurred by such trustee of and incidental to the preparation of this Act and its submission to Parliament and of and incidental to the carrying into effect the provisions of this Act other than the costs of administering the balance of the charitable fund as hereinafter in this section provided,

(e) the retention thereout of such sums as may be necessary to defray the costs and expenses of the administration of the trusts of such will and codicil (including trustee’s commission) as are properly chargeable to the capital of the charitable fund,

the trustee of the will and codicil of Thomas Walker deceased shall hold the balance of the capital and accrued income of the charitable fund in the hands of the trustee of the will and codicil of Thomas Walker deceased at the commencement of this Act upon a perpetual trust to divide the net income thereof remaining after payment of the costs and expenses of administering such fund (including trustee’s commission) into three equal parts and—

(i) to pay and apply two equal parts thereof or such portion thereof as such trustee shall deem proper for the support and maintenance of the Thomas Walker Convalescent Hospital and the Yaralla Cottages in such proportions as such trustee shall think fit,

(ii) to pay and apply one equal part thereof or any such portion thereof as such trustee may deem proper for the support and maintenance of the Dame Eadith Walker Convalescent Hospital for Men,

(iii) at the end of each year after the commencement of this Act to divide such portion of such annual income as shall not have been paid and applied for the purposes mentioned in paragraphs (i) and (ii) of this section equally between the Royal Alexandra Hospital for Children and the Royal Prince Alfred Hospital—