Paragraph 1

The endowments transferred to each new authority in accordance with paragraph 7(1) of this Scheme and Part I of this Schedule shall together constitute the endowment of a trust to be held, administered and applied by that new authority as governing body in accordance with the provisions of the Midlothian Educational Trust Scheme 1991^f1 (in this Part of this Schedule called “the 1991 Scheme”) which shall remain in force only for the purpose of application to those trusts, and shall apply in accordance with the provisions of this Part of this Schedule.