£10,000,000 TRUST
Magnificent Gesture By Lord Nuffield
RESEARCH AND TEACHING N.Z.P.A. and British Wireless Rec. 2 p.m. RUGBY, Feb. 12. It is announced that Lord Nuffield intends founding forthwith a charitable trust which will be known as the "Nuffield Foundation." He will hand over to the trustees his shareholdings in the Nuffield organisation to the value of £10,000,000 as a capital fund. The income from this will be administered by trustees. By carrying out this arrangement Lord Nuffield is not withdrawing from association with his business. The objects which the trustees will endeavour to assist are:—(l) Medical research and teaching; (2) the organisation and development' of medical and health services; (3) scientific research and teaching in the interests of trade and industry; (4) the pursuit of social studies; (5) care and comfort of the aged. The normal scope of the trust's activities 'will be Great Britain and Northern Ireland. Attention may, however, be given to projects particularly affecting the Empire, and in regard to items 1 and 2 the provision of scholarships and other assistance for Empire students is included.
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Bibliographic details
Auckland Star, Volume LXXIV, Issue 37, 13 February 1943, Page 5
Word Count
180£10,000,000 TRUST Auckland Star, Volume LXXIV, Issue 37, 13 February 1943, Page 5
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