1. The University acknowledges with gratitude the benefaction of Archbishop Laud held as permanent endowment on the trusts declared in this regulation. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts. The assets so held will be known as the Abdulaziz Saud AlBabtain Laudian Professorship in Arabic Fund (“the Fund”).
2. The University shall retain as permanent endowment those of the assets in the Fund which are contributed on the express understanding that they are to be treated as permanent endowment (“the Permanent Endowment”).
3. The University shall (a) apply the income of the Permanent Endowment; and (b) apply the income and, in its discretion, the capital of the remainder of the Fund, towards the salary and expenses of the holder of the Abdulaziz Saud AlBabtain Laudian Professorship in Arabic and associated overheads. The remainder of such costs shall be met from an earmarked expendable endowment held for that purpose within the Humanities Divisional Fund of the University of Oxford Development Trust Fund. The Professor shall lecture and give instruction in Arabic language and literature.
4. The administration of the Fund, and the application of its income, shall be the responsibility of the Humanities Divisional Board.
5. The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or, if the President of St John’s College is Vice-Chancellor, a person appointed by Council;
(2) the President of St John’s College, or, if the President is unable or unwilling to act, a person appointed by the Governing Body of St John’s College;
(3) a person appointed by the Governing Body of St John’s College;
(4), (5) two persons appointed by Council;
(6) the Head of the Humanities Division, or his or her nominee;
(7)–(9) three persons appointed by the Board of the Faculty of Oriental Studies.
6. The University shall have power to pay out of the capital or the income of the Fund all costs of and incidental to the creation of the Fund, and the management and administration of the Fund and the Professorship.
7. The University may exercise any of its corporate powers in the management and administration of the Fund in so far as those powers are not inconsistent with these regulations.
8. Regulations 1–4 and 6–10 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
9. Subject to regulation 10, Council may amend, repeal or add to these regulations in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:
(1) cease to be exclusively charitable according to the law of England and Wales; or
(2) be outside the objects of the University.
10. Any amendment to the first sentence of regulation 3 is an amendment to the main objects of the Fund for the purposes of Part D of Statute XVI and must be approved both by Congregation of the University and subsequently by Her Majesty in Council.
11. The professor shall be subject to the General Provisions of the regulations concerning the duties of professors and to those Particular Provisions of the same regulations as to residence which are applicable to this chair. He or she shall give not less than thirty-six lectures or classes in the year, provided that this obligation may be reduced in exceptional circumstances with the approval of the faculty board concerned.