Paragraph 1 Administration of Charity

The provisions of the Act shall cease to have effect with the exception of sections 1, 2 (introduction), 2(3), 2(4), 2(5), 2(9), 4, 5 (first paragraph), 8, 15 and 17.

With effect from the date on which this Scheme is given effect by an order of the Secretary of State under section 17(2) of the Charities Act 1993, the Charity and the property thereof shall be administered and managed in accordance with the provisions of this Scheme by the Governors.

The name of the Charity shall be “Peabody Trust” or such other name as the Governors shall from time to time, with the consent of the Charity Commissioners, decide and section 5 of the Act shall be amended accordingly so that for the words “The Governors of the Peabody Donation Fund” there shall be substituted “The Governors of The Peabody Trust” or such other name as the Governors shall from time to time, with the consent of the Charity Commissioners decide.