Section 4

to hold, control and administer the moneys, funds, securities and property vested in the Corporation or hereafter given to or in any manner acquired by or being in the custody or control of the Corporation and the income thereof, in accordance with the trusts or for the purposes affecting the same respectively, or in the absence of any special trust or purpose, for the general purposes of the

Corporation and in particular to invest any money for the time being requiring investment in any investment authorized by law for trust funds or in the purchase of immoveable property suitable for the general purposes of the Corporation;

to provide or assist in providing salaries for teachers for the Penang Free School, and prizes and scholarships for the scholars thereof, and to promote the moral, intellectual and physical education and wellbeing of the scholars and teachers of the Penang Free School and generally to promote the advancement of education; and

such other purposes as are identical with or conducive to the attainments of any of the objects mentioned in paragraphs (a) and (b).

Act 842

Penang Free School 7

Committee of management