Chapter VII: Section VII

_Of the Property and Funds of the Institution_.

RULE I. The Land, and the Building thereon, and all other Property of the Institution, real and personal, shall be vested in Twelve Trustees, to be elected from among the Proprietors, and shall be held by the said Trustees for the purposes of the Institution. They shall execute a Deed, declaring the purposes of such Trust; and when they shall be reduced to Three in number, the Proprietors, at a General Meeting, convened for that purpose, shall fill up the number to Twelve; and thereupon a proper Deed or Deeds shall be executed, for vesting the Property of the Institution in the surviving and new Trustees, and declaring the Trusts thereof; and so, from time to time, as often as may be necessary, for perpetuating the Trusts.

RULE II. Every transfer or bequest of a Share, and also the title of every Assignee, Legatee, or Legal Representative, shall be entered in the Register of the Institution; of which entry a Certificate shall be given by the Secretary, and for which Certificate One Pound, over and above the Stamp Duty, shall be paid to the Treasurers, to be carried to the general Fund of the Institution.

RULE III. Every Member of the Institution shall be furnished with one Copy of the Rules.

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Declaration to be signed by the Proprietors.—

We, whose names are here underwritten, being severally Proprietors of the Institution, called The Western Grammar School, do hereby severally declare for each of ourselves, and for our respective representatives, that we have not and that we will not claim, any interests, rights, privileges, or advantages, whatsoever, in the said School, or in the monies, goods, chattels, or property, whatsoever, belonging to, or supposed to belong to the same, excepting such interests, rights, privileges, or advantages, as may be claimed by us or either of us, or our representatives, by virtue of the Rules or Bye-Laws of the said Western Grammar School, now made, or hereafter to be made, by the majority of the Proprietors of the said Western Grammar School.

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_Memorandum_.—The Secretary will keep a Register of Shares that may become vacant, and of persons desirous of obtaining Shares.

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TILLING, PRINTER, CHELSEA.

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FOOTNOTE.

{1} The book has short margin notes of each rule which have been omitted in this transcription. E.g. the note for Rule I. was “Proprietors and number of Shares.”—DP.