“The settlor” shall mean the said Sir Arthur Hamilton Lee.

“Lady Lee” shall mean Ruth Moore Lee his present wife.

“ The custodian trustee ” shall mean the Public Trustee.

“The Act” shall mean the said intended Act of Parliament confirming these presents if and when the same shall receive the Royal assent.

Any person appointed under the last preceding paragraph by a person holding office as Prime Minister or as F3Secretary of State shall continue to hold that appointment (whether the person who appointed him continues to hold the relevant office or not) until he resigns or dies or his appointment is terminated by the person for the time being holding the relevant office (whichever first occurs).

The appointment or termination of the appointment of any person under this clause by the Prime Minister or the F3Secretary of State shall be made by an instrument in writing signed by the Prime Minister or the F3Secretary of State as the case may be and the resignation of any person appointed under this clause shall be effected by an instrument in writing signed by that person.

. . . F4

“The Chequers Trust Fund” shall mean a sum of not less than fifty-five thousand pounds (which may be added to from time to time) to be paid by the settlor as hereinafter provided and the investments for the time being representing the same F5and any money or other property which constitutes or represents capital money arising under the powers hereby conferred (including powers conferred by the M1Settled Land Act 1925 in so far as they apply for the purposes hereof) together with any other accretion to the money or property from time to time comprised in the said Fund and together also with any money or property which may from time to time be given or directed to be held upon the trusts applicable to the said Fund and accepted by the Public Trustee with the concurrence of the administrative trustees upon those trusts.