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SCHEDULEEdinburgh Merchant Company

Part VIEndowments trust

B. Payments, etc., to beneficiaries

Classes of beneficiaries

108The classes of persons qualified to be beneficiaries shall be—

(a)decent, peaceable and indigent men and women aged at least 55 on 1st July in the year of election (unless they are certified on medical grounds as being unable to earn their living) who are—

(i)members not exceeding 10 in number at any one time;

(ii)persons who have lived or worked in the City of Edinburgh;

(iii)persons who have lived or worked in Midlothian generally (excepting the City of Edinburgh):

Provided that in classes (ii) and (iii) preference shall be given to persons of the name of Gillespie or Gibb or Heriot and to those who have been connected with the building trade in the City of Edinburgh;

(b)persons qualified to occupy the Sir William Fraser Homes in accordance with the provisions of this Order.