(_b_) that the income of the property representing the endowment of Josias Shute shall be applied in providing total exemptions from payment of tuition fees and the cost of books and stationery, to be called Shute Scholarships, and to be offered in the first instance to boys who are and have for not less than two years been in attendance at a Public Elementary School in the Ancient Parish of Giggleswick;
(_c_) that any boys who are exempted from payment of tuition fees under the provisions of sub-clauses (2) (_a_) and (2) (_b_) of this clause, and who by reason of their proficiency are deserving of the distinction, shall be called Giggleswick Scholars and Shute Scholars respectively, and that any other boys who are exempted from payment of tuition fees, and are likewise worthy of the distinction, shall be called Foundation Scholars.
46. The Governors may award to such of the Giggleswick Scholars or Foundation Scholars as in the opinion of the Governors are in need of financial assistance to enable them to enter or remain in the School, Maintenance Allowances each of a yearly value of not more than 5_l._ Any such Allowance may, at the discretion of the Governors, be paid to the parent or guardian of the boy, or may be applied by them towards payments (other than tuition or entrance fees under the Rules for Payments or in providing the boy with travelling facilities or meals).
47. The Governors shall apply one moiety of the above-mentioned yearly sum of 90_l._, in one or both of the following ways:--
(1) in providing additional Shute Scholarships,
(2) in awarding maintenance allowances each of a yearly value of not more than 10_l._ to Shute Scholars.
Any unapplied residue of the said moiety shall be applied by the Governors in augmenting the value of the Giggleswick and other Exhibitions herein-after mentioned.
48. The Governors may, if funds permit, apply a yearly sum of not more than 150_l._ out of the income of the Foundation applicable for the purposes of the School in the maintenance of Boarding Scholarships, each consisting of exemption, total or partial, from payment of boarding fees. These Scholarships may be held in conjunction with any Scholarship or Exemption maintained under this Scheme.