1. Of the whole sum of £25,000 an amount not exceeding £5,000 shall be held in reserve by the Curators of the University Chest, to be spent under the supervision of the Waynflete Professor of Chemistry upon the equipment of the new laboratory or to be drawn upon by the professor for similar purposes.
2. The remainder of the sum shall be invested in the corporate name of the University as a fund to be called ‘The Dyson Perrins Fund’, and shall be held in trust in perpetuity by the University as an endowment.
3. The income of the said Dyson Perrins Fund shall be applicable under the supervision of the Waynflete Professor of Chemistry, so long as Organic Chemistry shall form the main subject of his or her chair, or if that shall cease to be the case, then of the professor to whom that subject shall be assigned, for the current expenses of his or her laboratory and for the carrying on therein of research and instruction in Organic Chemistry.
4. Any portion of the income in any one year which shall not have been spent within the year shall be carried to the credit of a Reserve Fund, which shall from time to time be invested, so that either the capital or income of this fund shall be available by decree for expenditure upon the same objects as the income of the original fund.
5. Council shall have full power to alter this decree from time to time, provided always that the Dyson Perrins Fund and its title shall be preserved, and that the main object of the foundation, namely the furtherance of the study of Chemistry and the promotion of Chemical Research in the University, shall be kept in view.