1. The prize, to be called the ‘Robert Herbert Memorial Prize’, was founded with a view to encouraging interest in those problems of Imperial Administration to which Sir Robert Herbert devoted his life. Its value shall be determined by the administrators of the Beit Fund.
2. The prize shall be awarded by the examiners for the Beit Prize in Colonial History on the results of the examination for that prize, and shall be open to such persons only as shall be eligible for the Beit Prize, and upon the same conditions as shall be prescribed for that prize.
3. The above-named examiners may in their discretion award the prize to the candidate to whom they award the Beit Prize, or to any other candidate in the same examination whose work may appear to them deserving of special recognition.
4. The prize shall in no case be awarded to the same person a second time, or to any person who has previously won the Beit Prize.
5. Any income not required for the prize in any year shall at the discretion of the administrators of the Beit Fund either be carried forward for expenditure in subsequent years or be applied by the administrators to the making of grants which in their opinion will promote the study in Oxford of imperial administration.
6. Provided the main objects of the foundation as expressed in clause 1 above are always kept in view, Council may from time to time alter this decree in such manner as it shall deem expedient.