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TO PAY INCOME FROM THE TRUST TO A UNIVERSITY OR RESEARCH INSTITUTE IN ISRAEL OR, IF NONE ARE REGARDED AS SUITABLE IN ISRAEL, ELSEWHERE SELECTED BY THE TRUSTEES FOR THE PURPOSE OF FOUNDING A SCHOLARSHIP/SCHOLARSHIPS ACCORDING TO THE FOLLOWING CONDITIONS OR PROVISIONS:
1. THAT EACH SCHOLARSHIP SHALL BE KNOWN AS 'THE DAVID AND EMMA WACHTEL SCHOLARSHIP' AND
2. THAT THE SAID SCHOLARSHIP SHALL BE AWARDED TO SUCH PERSONS AS SHALL BE DETERMINED BY THE UNIVERSITY OR RESEARCH INSTITUTE FOR THE PURPOSE OF PURSUING STUDIES OR RESEARCH IN CHEMISTRY, BIOLOGY OR MEDICINE.
3. THE TRUSTEE MAY, WHERE LAWFUL, EXERCISE A PREFERENCE IN FAVOUR OF JEWISH PERSONS.
