1. The University receives with gratitude the sum of £1,180,173 from a donor known to the University ("the Donor") to be held as permanent endowment on the trusts declared in this regulation. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts. The assets so held will be known as the Contemporary History and Public Policy of Mexico Fund ("the Fund").
2. The University shall retain as permanent endowment those of the assets in the Fund which are contributed on the express understanding that they are to be treated as permanent endowment ("the Permanent Endowment").
3. Subject to the provisions of this regulation 3, the University shall (a) apply the income of the Permanent Endowment; and (b) apply the income and, in its discretion, the capital of the remainder of the Fund, (together, "the Available Income") towards the salary and expenses of the holder of the position of Post-Doctoral Research Fellow in Contemporary History and Public Policy of Mexico ("the Fellow"), associated overheads, and all other costs (including, without limitation, research costs) associated with the Fellow. The Fellow shall undertake research and teach in Contemporary History and Public Policy of Mexico. Provided that for so long as the Donor exists its prior written consent is obtained, the University may apply the Available Income towards all costs associated with one or more different posts or activities in the field of Contemporary History and Public Policy of Mexico in substitution for or in addition to the application of the Available Income in support of the Fellow.
4. The administration of the Fund, and the application of its income, shall be the responsibility of a board of management comprising one member appointed by the Faculty of History, one member appointed by the Latin American Centre, and one member appointed by St Antony's College.
5. The University may in its absolute discretion in the period ending 21 years from the date of this regulation, instead of applying the income of the Fund in any year, accumulate all or any part of such income by investing it, and holding it as part of the capital of the Fund. The University may apply the whole or any part of such accumulated income in any subsequent year as if it were income of the Fund arising in the then current year.
6. The University shall have power to pay out of the capital or the income of the Fund all costs of and incidental to the creation of the Fund, and the management and administration of the Fund and matters relating to the Fellow.
7. 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.
8. Regulations 1–10 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
9. Subject to regulation 10, 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.
10. 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.