Paragraph 1 Alteration of Custodian Trusteeship

The Public Trustee shall take all necessary steps to transfer the funds now representing the endowment fund referred to in clause 8 of the Scheduled Deed to English Heritage (the “Administrative Trustees”). As from the completion of such transfer the Public Trustee shall be discharged from the office of Custodian Trustee under the Scheduled Deed and the Administrative Trustees shall hold those funds on trust to apply the income on the trusts declared in clause 9 of that Deed. The Administrative Trustees may defray out of the assets of the Charity any necessary and lawful costs and disbursements arising out of such cessation of Custodian Trusteeship.