15. The Management Rules appended to this Scheme (being the rules in accordance with which the Governors shall conduct their business and manage the property of the Foundation) shall have effect as part of this Scheme.
Vesting Property.
16. The Governors and all other persons capable of being bound by this Scheme shall, unless the Board of Education otherwise in writing direct, do all such acts as may be necessary in order to vest in the Official Trustee of Charity Lands and to transfer to the Official Trustees of Charitable Funds respectively, all freehold and leasehold lands and hereditaments and all stocks, shares, funds, and securities respectively, which may hereafter become the property of the Foundation.
The School.
Day and Boarding School for Boys.
17. The School of the Foundation shall be a day and boarding School, for boys, and shall be maintained in or near the Ancient Parish of Giggleswick in the present school buildings or in other suitable buildings provided for the purpose by the Governors as a Public Secondary School.
Income of Foundation.
18. All moneys received as income exclusively in respect of the School, whether from the fees of pupils or otherwise, shall be applicable wholly for the purposes of the School. After payment of the expenses of administration, the Governors shall apply the income arising from the property specified in the Schedule to this Scheme as follows:—
(1) They shall pay thereout the yearly sum of 100l. to the Governing Body of the Girls' Middle School at Skipton, to be applied by that Governing Body for the general purposes of that School, in accordance with the provisions of the above-mentioned Scheme of 3 April 1886, as since amended and altered;
(2) They shall provide thereout the yearly sum of 90l. to be applied as herein-after directed;