The Macan Trust for the Blind

Objectives A Cy Pres Scheme was confirmed in the High Court - Chancery Division - on 17th May 1982 in the matter of the Trusts of the Charity known as the Macan Asylum. This sets out the arrangements under which the present Macan Trust operates. The Macan Trust for the Blind – SCHEDULE – 17th May 1982 The Trustees shall invest the trust property in authorised trustee investments or allow the securities vested in them to remain in their present state of investment if such state of investment constitutes an authorised trustee investment. The Trustee shall hold the income of the trust upon trust; a) Firstly, to defray the costs of administering the trust fund (including the remuneration or discharging of the expenses of the secretary). b) Secondly, to apply the name or such part thereof as the Trustees after consultation with the Committee think fit for the relief and benefit of the prescribed class (including, but without prejudice to the generality of the foregoing) in the provision to members of the prescribed class of comforts and special equipment. c) Thirdly, to accumulate such part of the income in any year as is not applied for the purposes aforesaid and to add the same to the capital of the trust fund. The Trustees may with the approval of the Committee or a majority thereof apply capital of the trust fund for any of the purposes referred to in paragraph two (b) of this Schedule. For the avoidance of doubt it is hereby declared that the Trustees may in fulfilment of the trusts and powers hereinbefore referred, pay the income or part thereof or a part of the capital under paragraph three hereof, if appropriate, to any recognised Charity for the Blind as the Trustees, after consultation with the Committee, think fit provided that the Trustees are satisfied that the recipient thereof shall apply such income or capital (as the case may be) for the benefit of members of the prescribed class, and provided further that the Trustees shall not pay over more than a moiety of the capital of the trust fund without leave of the Court. (“The Prescribed Class” means blind persons in Northern Ireland, preference being given to blind persons resident in the City and surrounding district.) (“The City and surrounding district” shall mean the City of Armagh and the surrounding district, the extent of which shall be determined by the Trustees.) (“Recognised Charities for the Blind” shall include the Royal National Institute for the Blind and such other institutions or trusts provided for the blind in Northern Ireland recognised as charitable according to the law of Northern Ireland.) (“The Trust Property” shall mean the property subject to the trusts of the Charity including the proceeds of the sale of the Charity premises held under Indenture of Conveyance dated 12th August 1907, after deduction of all costs and incidental to the establishment and implementation of this scheme.)