1. The University accepts with gratitude the moneys offered by Balliol College to support the establishment of a Professorship of Management Studies, to be known as the Ernest Butten Professorship of Management Studies.
2. The Ernest Butten Professor of Management Studies shall lecture and give instruction in Management Studies.
3. The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or, if the Master of Balliol College is Vice-Chancellor, a person appointed by Council;
(2) the Master of Balliol College, or, if the Master is unable or unwilling to act, a person appointed by the governing body of the college;
(3) a person appointed by the Governing Body of Balliol College;
(4) a person appointed by Council;
(5), (6) two persons appointed by the General Board;
(7)-(9) three persons appointed by the Board of the Faculty of Management.
4. The professor shall be subject to General Provisions of the decree concerning the duties of professors and to those Particular Provisions of the same decree which are applicable to this chair.
5. The professor shall be expected to act as Director of Studies for Management students within Balliol College for such time as the college wishes. The other duties of the professor shall, if necessary, be adjusted by the University accordingly.
6. Council shall have power to amend this decree from time to time, subject to the concurrence of Balliol College.