1. The sum contributed by The MathWorks, together with any further donations for this purpose, shall be known as The MathWorks Fund (‘the Fund’).
2. The University shall apply the capital and income of the Fund for the support of graduate research students in the Mathematical and Physical Sciences in such ways as may be determined by the University on the recommendation of the Mathematical and Physical Sciences Board (‘the Objects’).
3. The studentships shall be known as The MathWorks Studentships in Mathematics and Science.
4. The administration of the Fund, and the application of its capital and income, shall be the responsibility of the Mathematical and Physical Sciences Board, which shall appoint a Board of Management with delegated authority to discharge this responsibility on its behalf. The board shall comprise:
(1) a member of the research group within which the studentship is to be held;
(2) the Director of Graduate Studies in the department in which the studentship is to be held;
(3) another member of academic staff to be appointed by the head of the department in which the studentship is to be held; and
(4) a person appointed by The MathWorks.
5. Each studentship may be awarded for a maximum of three years. It shall provide a maintenance payment to the student, University and college fees, and a contribution to other costs of research. The level of maintenance and contribution to other costs shall be determined by the Board of Management.
6. Regulations 1, 3, 4 and 5 above may be amended by Council.