1. The benefaction of £2.8m from BT PLC, together with any further donations for this purpose, shall be used to establish and maintain the BT Professorship of Major Programme Management.
2. The University shall apply the capital and net income towards the salary and expenses of the holder of the Professorship and associated overheads and outgoings, specifically any tax that may become levied in relation to the Professorship or any Centre with which the Professorship may be associated from time to time.
3. The administration of the benefaction, and the application of its capital and income, shall be the responsibility of the Executive Board of the Saïd Business School.
4. The BT Professor of Major Programme Management shall lecture and give instruction in management studies.
5. The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or if the head of the college specified in paragraph (2) below is the Vice-Chancellor, a person appointed by Council;
(2) the head of the college to which the Chair may be allocated by Council from time to time; or if the head is unable to unwilling to act, a person appointed by the governing body of that college;
(3) a person appointed by the governing body of the college;
(4), (5) two persons appointed by Council;
(6) a person appointed by the Social Sciences Board; and
(7)–(9) three persons appointed by the Saïd Business School.
6. 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 the Chair.
7. Regulations 1–2 shall be deemed as Trust Regulations under the provisions of Part D of Statute XVI.
8. Regulations 3–6 may be amended by Council.