1. The benefaction of £129,129 from the E.P. Abraham Cephalosporin Fund, together with any further donations for this purpose, shall be used to establish and maintain the Professorship of Mechanistic Cell Biology.
2. The University shall retain all of the benefaction as permanent endowment and shall apply the net income towards the salary and expenses of the holder of the Professorship and associated overheads and outgoings.
3. The administration of the benefaction, and the application of its capital and income, shall be the responsibility of the Medical Sciences Board.
4. The Professor of Mechanistic Cell Biology shall lecture and give instruction in biochemistry.
5. The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or if the head of the college specified in paragraph (2) below is the Vice- Chancellor, a person appointed by Council;
(2) the head of the college to which the Chair may be allocated by Council from time to time; or if the head is unable to unwilling to act, a person appointed by the governing body of that college;
(3) a person appointed by the governing body of the college;
(4), (5) two persons appointed by Council;
(6)–(9) four persons appointed by the Medical Sciences Board.
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. Regulations 1–2 shall be deemed as Trust Regulations under the provisions of Part D of Statute XVI.
8. Regulations 3–6 may be amended by Council.