_Giggleswick and other Leaving Exhibitions._
49. The Governors shall, as soon as funds permit, maintain a Leaving Exhibition, to be called the Giggleswick Exhibition, of the yearly value of not less than 30_l._ nor more than 50_l._ to be awarded for proficiency in any one or more of the subjects of general instruction provided for by this Scheme. They may also maintain (1) a Leaving Exhibition to be called the Clapham and Tennant Exhibition, and (2) other Leaving Exhibitions.
(_a_) The Exhibitions shall be tenable at any University, Training College for pupils intending to enter the teaching profession, or other Institution of higher, including professional or technical, instruction.
(ii) a series of payments extending over not more than four years,
and in either case shall not exceed a total value of 200_l._
(_c_) Exhibitions shall be awarded for merit only, on the result of such examination as the Governors think fit, to boys who then are and have for not less than two years been in the School. Within the limits fixed by this Scheme the Exhibitions shall be freely and openly competed for, and shall be awarded under such rules and conditions as the Governors think fit, but so that as nearly as possible the same number may be awarded each year. Any Exhibition for which there is no duly qualified candidate, who on examination is adjudged worthy to take it, shall for that turn not be awarded.
50. The Scholarships and Exhibitions shall be tenable only for the purposes of education. If, in the judgment of the Governors, the holder of any Scholarship or Exhibition or any boy exempted as aforesaid is guilty of serious misconduct or idleness, or fails to maintain a reasonable standard of proficiency, or ceases to pursue his education, the Governors may deprive him of the Scholarship, Exhibition, Exemption, or any Maintenance Allowance, but in the case of an Exemption (unless the Rules for Payments otherwise provide) only upon grounds sufficient to justify the removal of any boy from the School. In the case of an Exhibition, the Governors may act on the report of the proper authorities of the University, College, or Institution, at which the Exhibition is held, or on such other evidence as the Governors think sufficient. Under this clause the decision of the Governors shall be final in each case.