1. The Board of the Mathematical, Physical and Life Sciences Division shall be the board of management of the Burdett-Coutts Foundation.
2. The board shall establish a committee to exercise on its behalf the powers conferred by clauses 3 and 4. The committee shall consist of the Head of the Department of Earth Sciences and three other persons, one appointed by the Board of the Mathematical, Physical and Life Sciences Division (but who does not need to be a member of the Board) and two elected by the Departmental Committee of Earth Sciences. The elected members shall hold office for three years and shall be re-eligible. The committee shall report on its activities to the Board of the Mathematical, Physical and Life Sciences Division at least once in each year.
3. The first charge on the foundation shall be the award in each year of a Burdett-Coutts Prize, the value of which shall be determined by the committee but shall not be less than £50. The prize money shall be spent on travel or some other purpose connected with the study of Geology and approved by the Professor of Geology, and shall be paid in accordance with his or her instructions. The prize shall be open to members of the University who have read Geology in the Honour School of Geology/Earth Sciences, have passed the examinations necessary for the Degree of Bachelor of Arts and are of not more than twelve terms’ standing. It shall be awarded to the candidate who, after consideration of the candidates’ performance in the Final Honour School and of their proposals for the use of the prize money is, in the opinion of the committee, best fitted to receive it. If in any year the prize is not awarded because no candidate of sufficient merit has presented himself or herself, the committee shall report accordingly to the board.
4. Income not required for the prize may be kept in hand or used by the committee in one or more of the following ways:
(a) the award of a second prize - the value and conditions to be decided by the committee in each case;
(b) the award of a studentship to a member of the University who has (or will have by the time the studentship is taken up) (i) passed the examinations necessary for the Degree of BA, (ii) not exceeded twenty-seven terms from his or her matriculation, (iii) satisfied the committee that he or she intends to read for the Degree of M.Sc. or D.Phil. in the Department of Earth Sciences - the value and conditions to be decided by the committee in each case;
(c) the award of a studentship to a member of another university who has been admitted by the Board of the Faculty of Physical Sciences as a student for the Degree of M.Sc. or D.Phil. in the Department of Earth Sciences - the value and conditions to be decided by the committee in each case; provided that an award under this sub-clause shall not be made unless the financial state of the fund is such that it can be made without prejudice to the possibility of an award under subclause (b);
(d) in any way (whether by the making of grants or otherwise) for the promotion of the study of geology, and of other branches of natural science bearing on geology, among members of the University who have not exceeded twenty-seven terms from their matriculation.
5. The board shall, with the consent of Council, have power to alter this regulation from time to time, provided always that the main end of the foundation shall be kept in view, namely, the promotion of the study of Geology, and of other branches of natural science bearing on Geology, among the student members of the University of Oxford.