31.1. The main object of the endowment given by Mr Henry Wilde shall be the promotion of the study of Mental Philosophy among the student members of the University.
31.2. The endowment shall be administered by the Board of the Faculty of Philosophy.
31.3. The first charge on the net income of the endowment shall be the emoluments of a prize in Mental Philosophy, which shall always be called, in honour and memory of John Locke, the John Locke Prize.
31.4. The prize shall be awarded, provided that candidates of sufficient merit present themselves, after an examination in Mental Philosophy.
31.5. The prize shall be open to:
(1) members of the University who have passed all the examinations required for the Degree of Bachelor of Arts, but who shall not take the prize examination later than the tenth term from that in which they completed those examinations;
(2) members of the University working for or having obtained postgraduate degrees of the University who are not included under (1) above, but who shall not take the prize examination later than the tenth term from their matriculation.
31.6. The value of the prize, payable on award, shall be £300 or such greater sum from the income of the endowment as the faculty board shall determine subject to section 31.3. above.
31.7. The prize shall not be awarded twice to the same person.
31.8. The examiners for this prize shall be:
(1), (2) in 2001 and in every second year after that the Wykeham Professor of Logic and the Professor of the History of Philosophy; in 2002 and in every second year after that White’s Professor of Moral Philosophy and the Waynflete Professor of Metaphysical Philosophy;
(3) the Wilde Professor of Mental Philosophy.
31.9. (1) Each of the professors specified in section 31.8 above may, if he or she thinks fit, appoint some other person, of the Degree of Master of Arts at least and approved by the board, to act in his or her place.
(2) The Professor of Psychology (or his or her deputy) shall act as assessor for such part of the examination as involves a technical knowledge of psychology.
(3) In case of an equality of votes, the senior examiner shall have a casting vote.
31.10. The examiners shall have power to award the sum of £100, or such greater sum from the income of the endowment as the faculty board shall determine subject to section 31.3 above, to the second-prizewinner if and only if they would have judged him or her worthy of the prize had there not been a better candidate.
31.11. The board shall fix the remunerations of the examiners and assessor and shall defray any other expenses arising in connection with the prize from the income of the endowment.
31.12. Congregation may from time to time amend this Part so long as the main object of the endowment, as defined in section 31.1 above, is always kept in view.