1. The bequest of the late Mrs M.M. Hasluck shall be used to establish a fund known asthe ‘Lef Nosi of Elbasan, Albania, Memorial Fund’.
2. The income of the fund shall be administered by the Curators of the Taylor Institution who shall apply it in the first instance to the purchase of books on Albania in accordance with the frontiers in 1939, and shall insert in each book so bought a book-plate with the inscription ‘Bequest by Margaret Hasluck in grateful memory of Lef Nosi of Elbasan, Albania’.
3. The Curators of the Taylor Institution may allow surplus income to accumulate and may direct the Curators of the University Chest to apply it:
(a) to increase the capital of the fund;
(b) to improve the investments held by the fund;
(c) to provide a prize or prizes to be administered by the Curators of the Taylor Institution under regulations made by them and to be open to students of either sex attending any university of the United Kingdom who are either
(i) natives of Albania in accordance with its frontiers in 1939 who are proposing to pursue some branch of studies connected with Britain of preferably a linguistic, folklore, historical, sociological, or agricultural nature; or
(ii) subjects of the British Empire and Commonwealth of Nations who are proposing to pursue some branch of studies connected with Albania in accordance with its frontiers in 1939 of preferably a linguistic, folklore, historical, sociological, or agricultural nature.