1. There shall be an exhibition for the encouragement of the study of matters relating to India, which shall be called the Frere Exhibition for Indian Studies, in memory of Sir Henry Bartle Edward Frere, Bt.
2. The emoluments of the exhibition shall be the net annual income of the endowment fund after deduction of any expenses connected with the exhibition, subject to the provisions of clause 7 of this decree.
3. The exhibition shall be open to all members of the University, whether men or women, who, on the day of election, shall not have exceeded the twenty-first term from their matriculation.
4. The exhibitioner shall be elected by a board consisting of:
(1) the Boden Professor of Sanskrit,
(2) the Reader in Modern South Asian History,
(3) a person appointed by the Board of the Faculty of History,
(4) a person appointed by the Board of the Faculty of Social Studies.
The elected members of the board shall hold office for five years and shall be reeligible. The board may elect the exhibitioner, either after an examination or otherwise, as it may from time to time think fit.
5. The board shall give at least three months’ notice of the time and place at which the names of candidates will be received.
6. The exhibition shall be offered once in each academic year and shall be tenable for one year. Every candidate must undertake to carry out a specified piece of work, to be approved by the board, in the field of Indian studies. The work shall be carried out at Oxford for three terms unless the board shall, in the interests of the work, give leave to the exhibitioner to carry it out elsewhere for one or more terms. The board shall authorize one of its members to report from time to time to the Secretary of Faculties whether the exhibitioner is worthy to receive his or her stipend. If the report is unfavourable, the Secretary of Faculties shall immediately inform the board of electors, which shall have power to withhold further emoluments.
7. The board shall have discretion to diminish or to augment from income previously unspent the emoluments of the exhibition, either at the time of election or at any time during the period of tenure; to elect an additional exhibitioner in any year; and to make grants for the purpose for which the exhibition was founded, as defined in clause 1 of this decree.
8. Any income not disposed of from any cause shall be carried forward for expenditure at any future time under the board’s powers as defined in clause 7 of this decree.
9. The exhibition may be awarded a second but not a third time to the same person.
10. The board shall have power to defray out of the income of the fund any expenses connected with the exhibition, including the remuneration of examiners if appointed.
11. This decree may be altered from time to time by Council, provided that the sole object of the benefaction shall always be kept in view, namely the foundation of exhibitions at the University for encouraging the study of matters relating to India.