Part of Council Regulations 25 of 2002: Trust Regulations
1. The annual income of the fund presented to the University by Señor Don Guillermo Joaquin de Osma, after discharging the necessary expenses of administration, shall be paid to a member of the University desirous of studying in Madrid in connection with the Instituto de Valencia de Don Juan, who shall be called the de Osma Student.
2. The de Osma Student shall be appointed by the Vice-Chancellor in Michaelmas Term, and shall hold the studentship till 31 October in the following year. The same person may be appointed student for a second and third year.
3. The student shall undertake to study in connection with the Instituto de Valencia de Don Juan in any subject for which facilities are provided there, for the space of not less than six weeks. The income of the fund shall be paid to the student at such dates and in such manner as the Vice-Chancellor may from time to time determine.
4. Any surplus income shall either be applied to such extent as the Vice- Chancellor may determine in augmentation of the emoluments of the student or shall be invested by the Curators of the University Chest in augmentation of the capital of the fund.