1. The University accepts with gratitude from Andbell AS the sum of £96,000, which shall be used, together with any further sums accepted for this purpose, to establish a fund, to be called the Andbell AS Fund, for the furtherance of legal teaching within the University.
2. The fund shall be administered by the Board of the Faculty of Law, which shall apply the income of the fund for the support of a part-time senior teaching fellowship, and/or for such other purposes as shall, in the board’s opinion, promote the study of European Law within the University, under such conditions as the board shall from time to time determine.
3. Income not spent in any year shall be carried forward for expenditure in subsequent years.
4. Council shall have power to alter this decree from time to time, provided that the main object of the fund, as defined in clause 1 above, is always kept in view.