1. The University accepts with gratitude the initial endowment, and such further sums as shall be contributed for the same purpose, to establish a fund, to be known as the Andy Derome Memorial Fund, the net income of which shall be applied to promote wider interest within the University in current scientific research.
2. The first charge on the net income shall be the provision from time to time of series of lectures or seminars, to be called the Andy Derome Memorial Lectures (or Seminars, as the case may be), by members of the international scientific community actively engaged in research. Each series of lectures or seminars shall be given by a person or persons chosen by the Waynflete Professor of Chemistry under such arrangements as shall be approved from time to time by Council. In the selection of the person or persons who will give each series, preference shall be given to those who have spent in aggregate not more than twenty-four years in full-time teaching or research since passing the examinations required for a first degree or comparable qualification.
3. If in any year the moneys available are inadequate to cover the cost of a series of lectures or seminars in accordance with clause 2 above, the net income of the fund in that year shall be carried forward for expenditure on the next series to be given. Surplus moneys in any year in which a series has been given may be applied, within the limitations prescribed by clause 1 above, for such other purpose or purposes as the Waynflete Professor of Chemistry, in accordance with such arrangements as shall be approved from time to time by Council, shall determine.
4. Council shall have power to alter this decree from time to time, provided that the main object of the fund, as defined in clause 1 above, is always kept in view.