1. The University accepts with gratitude the moneys offered by Allen & Overy LLP for the provision of an Allen & Overy Professorship of Corporate Law.
2. The Allen & Overy Professor of Corporate Law shall lecture and give instruction in Corporate Law.
3. The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or, if the head of the college specified in (2) of this clause is Vice-Chancellor, a person appointed by Council on the occurrence of a vacancy to act as an elector on that occasion;
(2) the head of the college to which the professorship shall be allocated by Council under any regulation in that behalf, or, if the head is unable or unwilling to act, a person appointed by the governing body of the college on the occurrence of a vacancy to act as an elector on that occasion;
(3) a person appointed by the governing body of the college specified in (2) of this clause;
(4), (5) two persons appointed by Council;
(6) a person appointed by the Social Sciences Board; and
(7)–(9) three persons appointed by the Board of the Faculty of Law.
4. 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 which are applicable to this chair.