1. The benefaction from Fozmula Limited, together with any further donations for this purpose, shall be used to establish and maintain a Professorship of Medieval English Palaeography, to be known as the Jeremy Griffiths Professor of Medieval English Palaeography (‘the Chair’).
2. The University shall retain all of the benefaction as permanent endowment and shall apply the net income of this benefaction towards the support of the Chair, as follows:
(1) in the payment of the stipend, national insurance, pension contributions and associated indirect costs of the Chair;
(2) for the support of teaching or research into the areas mentioned in Regulation 3 below in such manner as shall be approved by a Board of Management made up of the following persons (or their respective nominees): the Chair of the Board of the Faculty of English Language and Literature, the Head of the Humanities Division, and the Principal of St Hilda’s College.
Any unexpended net income in a financial year may in any one or more subsequent years be expended in accordance with Regulation 2(2) above.
3. The Jeremy Griffiths Professor of Medieval English Palaeography shall lecture and give instruction in Medieval English Palaeography. The professor shall engage in the study of and research into the palaeography, codicology and history of books produced in the British Isles before 1550, with particular reference to the production, transmission and reception of such books.
4. 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) of this regulation is Vice-Chancellor, a person appointed by Council;
(2) the Principal of St Hilda’s College (being the college to which the professorship has been allocated by Council), or if the Principal is unable or unwilling to act, a person appointed by the governing body of the college;
(3) a person appointed by St Hilda’s College;
(4), (5) two persons appointed by Council;
(6) the Head of the Humanities Division or his or her nominee;
(7)–(9) three persons appointed by the Board of the Faculty of English Language and Literature.
5. 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.
6. Regulations 1–2 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI. 7. Regulations 3–5, and the composition of the Board of Management in Regulation 2(2), may be amended by Council.