1. The net income of the fund established by the gift of £30,000 from J.P. Morgan, and any further sums which may be donated for the same purpose, shall be used to provide prizes, to be known as the J.P. Morgan MBA Prizes, for award to postgraduate student members of the University in Management Studies.
2. The fund shall be administered by the School Board of the Saïd Business School, which shall determine both the value of the prizes and the papers and projects for the MBA examination on which the prizes shall be awarded.
3. The Board of Examiners for the MBA shall make the detailed arrangements for the award of the prizes, including the appointment of judges.
4. The prizes shall be offered annually for award to student members of the University who at the time of entry for the prizes are registered for the Degree of Master of Business Administration and who will have been so registered for a period of less than twelve months at the date by which essays for the prizes are required to be submitted.
5. If there are candidates of sufficient merit in each case, the prizes shall be awarded annually for the best performances in the papers and projects specified under regulation 2 above.
6. Regulations 2--5 above may be amended by Council.