1. The University accepts with deep gratitude the sum of £400,000 from the Trustees of the E. P. Abraham Research Fund for the furtherance of research in the medical, biological, and chemical sciences within the University, in particular by the endowment of a visiting professorship in those sciences, to be tenable in association with Lincoln College, the costs of which shall be the first charge on the income of the endowment. The professorship shall be known as the Newton-Abraham Visiting Professorship, and shall be held under the conditions set out below.
2. The professor shall be elected by a board of electors consisting of:
(1) the Vice-Chancellor;
(2) two persons appointed by Council, one of whom shall be external;
(3)-(6) two persons appointed each by the Medical Sciences Division and the Mathematical, Physical and Life Sciences Division;
(7), (8) two persons appointed by the Governing Body of Lincoln College.
Council shall have power to alter the composition of this electoral board by regulation, provided that no alteration in the representation of Lincoln College shall be made without the consent of that college.
3. The electors shall normally elect a person resident overseas, but may exceptionally elect a person resident within the United Kingdom.
4. The professor shall hold office for such period not exceeding one year as the electors may determine. It shall be the professor’s duty to stimulate and promote research in a subject within the field of the medical, biological, and chemical sciences, and he or she shall perform such other duties as the electors may assign to him or her.
5. The professor shall receive a stipend at the rate applicable to a professor in Schedule A.
6. The income from the endowment remaining after the stipend of the professor and the costs of administration have been met shall be applied by the electors at their discretion towards:
(1) the research expenses of the professor, including the costs of secretarial and technical assistance, the amount required for these purposes being fixed in consultation with the head of the department in which the professor is to work;
(2) the travelling, accommodation, and other expenses of the professor;
(3) other uses agreed with the Trustees for the time being of the E.P. Abraham Research Fund for the furtherance of research in the medical, biological, and chemical sciences, if at any time the electors consider that the income from the endowment is more than sufficient to provide for (1) and (2) above.
7. Any income not expended on the above purposes in any year may be carried forward for expenditure in a subsequent year.
8. If at any time the electors consider that the income from the endowment is insufficient to provide adequately for the expenditure specified in regulations 5 and 6 above, they may leave the professorship vacant for not more than a year to allow income to accumulate.