On this day, in 1866, was founded....

On this day, in 1866, was founded Wesley College in Melbourne, Australia. Their arms are below, without blazon.

They look like assumed arms and don't respect heraldic rules in their current achivement, though the black-and-white original is fine.

Here is my shot:
Quarterly Argent and Gules, a cross Azure charged with four mulets Or between
1st a lion rampant Or?,
2nd and 3d an open book Argent
4th, an ancient lamp Or?

Crest: a lion head couped at the neck Or
Motto: Sapere Aude

History:
http://www.wesleycollege.net/About-Wesley/Our-history/Colours-Crest-and-the-Lion.aspx

https://en.wikipedia.org/wiki/Wesley_College_%28Victoria%29

Wesley College (Victoria) - Wikipedia, the free encyclopedia