1. The University receives with gratitude the sum of £16,000 from Dr Catherine Oppenheimer to be held on the trusts declared in this regulation. Further money or property may be paid or transferred to the University to be held on the same trusts. The assets so held will be known as the Catherine Oppenheimer Prize in Old Age Psychiatry Fund (“the Fund”).
2. The University shall retain the assets in the Fund as permanent endowment.
3. The University shall apply the income of the Fund towards an essay prize in Old Age Psychiatry (the “Prize”).
4. The administration of the Fund, and the application of its income, shall be the responsibility of a Management Board comprising:
(1) the Head of the Department of Psychiatry;
(2) the Clinical Tutor in Psychiatry; and
(3) one member of the Psychiatry Undergraduate Teaching Committee, selected by the Committee.
5. The Prize shall be open to all medical students of the University in years 4, 5 or 6 of the undergraduate entry course or years 2, 3 or 4 of the graduate entry course.
6. The value of the Prize in each year shall be determined by the University on the basis of the available income of the Fund.
7. A Prize will be made available by the University in any academic year where sufficient funds are available. If the income of the Fund is sufficient, the University may award more than one Prize in any given year.
8. The selection of candidates for a Prize will be the responsibility of the Clinical Tutor in Psychiatry and two persons appointed by the Management Board, at least one of whom shall normally be a specialist in Old Age Psychiatry (the “Judges”).
9. The University may pay out of the income of the Fund the costs of a meal for the Judges on the day that they make their decision(s), not to exceed £100.
10. The University may exercise any of its corporate powers in the management and administration of the Fund in so far as those powers are not inconsistent with these regulations.
11. Regulations 1-13 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
12. Subject to regulation 13, Council may amend, repeal or add to these regulations in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:
(1) cease to be exclusively charitable according to the law of England and Wales; or
(2) be outside the objects of the University.
13. Any amendment to regulation 3 is an amendment to the main objects of the Fund for the purposes of Part D of Statute XVI and must be approved both by Congregation of the University and subsequently by Her Majesty in Council.