18.1. The net income of the fund established in memory of the late Dr Thomas Gaisford, Dean of Christ Church and Regius Professor of Greek, shall be applied for the advancement of classical learning in the University.
18.2. There shall be a board of management for the fund consisting of:
(1) the Regius Professor of Greek;
(2), (3) two members of the Sub-faculty of Classical Languages and Literature elected by the Board of the Faculty of Classics to hold office for a period of three years.
18.3. (1) The board of management shall elect annually a lecturer, to be known as the Gaisford Lecturer, to hold office for one academic year in the course of which he or she shall deliver one lecture on a subject of his or her own choosing in the field of Greek or Latin Literature.
(2) The lecture shall normally be delivered in Trinity Term unless the board of management decides otherwise.
18.4. The board of management shall determine the emoluments of the lecturer, and provision for his or her travelling expenses, for payment from the Gaisford Fund.
18.5. The board of management shall offer the following annual prizes of such value and on such terms and conditions as it shall from time to time determine:
(1) a Gaisford Essay Prize for Greek Language and Literature (for which only undergraduates shall be eligible);
(2) a Gaisford Dissertation Prize for Greek or Latin Language and Literature (for which only graduates shall be eligible).
18.6. Congregation may from time to time amend this Part so long as the main object of the fund, as defined in section 18.1 above, is always kept in view.