36.1. The main object of the benefaction accepted by the University from Mrs June Osgood shall be the encouragement of composition in some form of chamber music, and research in the history and aesthetics of music.
36.2. The prize established from the benefaction shall be called the John Lowell Osgood Memorial Prize, and shall be offered every year; it shall be offered alternately for a composition in some form of chamber music and for a dissertation which involves serious research on some subject, approved by the Heather Professor of Music, dealing with music from the historical or the aesthetic aspect, and which as a whole has not yet been, nor is about to be, submitted for a degree of this or any other university.
36.3. The prize shall be administered by the Board of the Faculty of Music, which shall have power, subject to the provisions of this Part, to make regulations as to the award of the prize and as to the appointment and remuneration of the judges.
36.4. Any surplus income may be used, at the discretion of the Board of the Faculty of Music, either to assist successful candidates in publishing their dissertations or compositions or for any other purpose connected with the advancement of the study of music at Oxford approved by the board and not inconsistent with the encouragement of composition in some form of chamber music or research in the history and aesthetics of music.
36.5. Congregation may from time to time amend this Part so long as the main object of the benefaction, as defined in section 36.1 above, is always kept in view.