1. A biennial lecture shall be maintained in the University of Oxford to be called the Myres Memorial Lecture, and the lecturer to be appointed shall be called the Myres Memorial Lecturer.
2. The lecture shall be delivered on a subject within the field of ancient history, European and Near Eastern archaeology, historical geography, and ethnology, with special reference to Mediterranean lands, and subjects shall, at the discretion of the board of management, be taken from these fields in rotation.
3. The sum of £961-73 and the stocks, funds, and securities for the time being representing the same, and any addition made thereto by accumulation or otherwise, shall form a fund to be called the Myres Memorial Fund.
4. There shall be a board of management consisting of:
(1) the Vice-Chancellor;
(2) the Warden of New College;
(3) the Wykeham Professor of Ancient History;
(4) one person elected by the Board of the Faculty of Literae Humaniores;
(5) one person elected by the Board of the Faculty of Oriental Studies;
(6), (7) two persons elected by the Board of the Faculty of Anthropology and Geography.
The elected members shall hold office for three years but shall be re-eligible. Four members of the committee shall constitute a quorum.
5. The board of management shall appoint the lecturer in every other year and fix his or her stipend.
6. The stipend of the lecturer shall be the first charge on the income of the fund; the next charge shall be the cost of publication of the lecture, and any profits from the sales of the lecture shall be credited to the fund. Any surplus income arising when these charges have been met shall, at the discretion of the board of management, be applied in one or more of the following ways: (a) applied towards the necessary expenses of the lecturer, including the provision of illustrative material if required (such material to remain the property of the University); (b) carried forward for use in a subsequent year; (c) invested in augmentation of the capital; (d) applied in any other way which the board shall think conducive to the object of the fund.
7. Each lecturer shall deliver to the Vice-Chancellor his or her lecture or a verified copy thereof which shall be retained in the Bodleian Library.
8. This decree shall be subject to alteration by Council provided that the main object, namely the delivery in the University from time to time of a lecture to be called the Myres Memorial Lecture, shall be observed and maintained.