1. The University receives with gratitude a gift from the Gareth Evans Memorial Trust to be held as expendable 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 Gareth Evans Fund ("the Fund").
2. The University shall retain as permanent endowment those of the assets in the Fund (if any) 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 (if any); and (b) apply the income and, in its discretion, the capital of the remainder of the Fund towards the costs of an annual lecture in Philosophy, to be known as the Gareth Evans Lecture. Such costs may include, without limitation, the costs of the speaker's honorarium, travel and accommodation costs, and the cost of hospitality associated with the lecture.
4. In the event that there is surplus income available in any given year after the main object of the Fund set out at regulation 3 has been met, the University may in its discretion apply such surpluses to all or any of the following purposes (the order of which is not intended to indicate an order of preference): running a conference or workshop associated with the Gareth Evans Lecture; providing a prize for the best BPhil or DPhil thesis submitted within the University's Faculty of Philosophy in a given year; and/or awarding a full or partial graduate scholarship to a student within the Faculty of Philosophy (in which case such scholarship will bear the name of Gareth Evans).
5. The administration of the Fund, and the application of its income, shall be the responsibility of the Board of the Faculty of Philosophy, which in its discretion may delegate such administration to a management board.
6. 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.
7. 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.
8. 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.
9. Regulations 1–11 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
10. Subject to regulation 11, 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.
11. 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.