1. The initial donation of £2,223,000 from the Salus Mundi Foundation, representing Professor A Richard Diebold Jr, is 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 Diebold Fund for Comparative Philology (“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. 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 (if any), towards the salary, expenses and support costs, including support for the Chair's research assistant, of the A Richard Diebold Jr Chair of Comparative Philology, who shall lecture and give instruction in Indo-European and the history and comparative philology of the Indo-European languages. In accordance with section 20 of Part D of Statute XVI, any surplus income in any year may be used to support the teaching and study of Comparative Philology at the University.
4. The administration of the Fund, and the application of its income, shall be the responsibility of a board of management comprising:
(1) the Chair of the Faculty Board of Classics, ex officio;
(2) the Chair of the Faculty Board of Linguistics, Philology and Phonetics, ex officio;
(3) the holder of the A Richard Diebold Jr Chair of Comparative Philology, ex officio;
(4) a person appointed by the Faculty Board of Classics, who shall serve for three years and be eligible for reappointment; and
(5) a person appointed by the Faculty Board of Linguistics, Philology and Phonetics, who shall serve for three years and be eligible for reappointment.
The chair of the Committee shall be alternately the Chair of the Faculty Board of Classics and the Chair of the Faculty Board of Linguistics, Philology and Phonetics, each serving as chair for a period of three years.
5. The A Richard Diebold Jr Chair of Comparative Philology shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or, if the head of the college specified in
(2) of this clause is Vice-Chancellor, a person appointed by Council on the occurrence of a vacancy to act as an elector on that occasion; (2) the head of the college to which the professorship shall be for the time being allocated by Council, or, if the head is unable or unwilling to act, a person appointed by the governing body of the college on the occurrence of a vacancy to act as an elector on that occasion;
(3) a person appointed by the governing body of the college specified in (2) of this clause;
(4), (5) two persons appointed by Council;
(6) a person appointed by the Humanities Board;
(7) a person appointed by the Board of the Faculty of Classics;
(8) a person appointed by the Board of the Faculty of Modern Languages;
(9) a person appointed by the Board of the Faculty of Oriental Studies.
6. The professor shall be subject to the General Provisions of the regulations concerning the duties of professors and to those Particular Provisions of the same regulations which are applicable to this chair.
7. 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.
8. 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.
9. 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.
10. Regulations 1–4 and 7–12 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
11. Subject to regulation 12, 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.
12. 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.