Below is an extract from the OH Club Rules pertaining to this Fund.
(a) The Committee may appoint not less than four nor more than twelve Charitable Trustees to hold such property (including cash) of the Club as the Committee shall direct to be transferred to them and to administer such property with other property mentioned in part (b) of this Rule as a Fund to be known as the Old Herefordian Fund for such charitable objects for the benefit of the School as may be provided by a deed or deeds to be executed by the Charitable Trustees in a form to be approved by the Committee
(b) The Charitable Trustees may on behalf of the Club receive directly into the Fund such other property as the Committee shall direct being property bequeathed devised or otherwise given to the Club for the objects of the Fund and they may also receive into the Fund any other property bequeathed devised or otherwise given to the Fund
(c) Directions of the Committee under part (a) or part (b) of this Rule may be made from time to time by resolution (of which an entry in the minute book shall be conclusive evidence)
(d) The provisions of Rule 22(b) shall apply in relation to the Charitable Trustees as they apply in relation to the Trustees of the Club provided that the number of Charitable Trustees shall not exceed twelve and if at any time their number is less than four one or more additional Charitable Trustees shall be appointed so that their number is not less than four
(e) Any property held or to be held by the Charitable Trustees under this Rule may be vested in the Official Custodian for Charities.