50.1. The main object of the Marjory Wardrop Fund shall be the encouragement of the study of the language, literature, and history of Georgia, in Transcaucasia, and in particular:
(1) the improvement and increase of the Georgian section of the Bodleian Library;
(2) the publishing, or assisting in the publication of, Georgian and English works on the language, literature, or history of Georgia;
(3) the assistance of carefully selected British students to study the language, literature, and history of Georgia;
(4) the public teaching, and encouragement of the study, in Oxford, of the language, literature, and history of Georgia.
50.2. There shall be a board of management for the fund, which shall at its discretion, and in such manner and at such times as it may judge most expedient, apply the net income arising from the fund, and from any additional gifts or bequests which may be made in augmentation of the fund, to one or more of the purposes specified in section 50.1. above.
50.3. The board of management shall consist of:
(1) a person appointed by the Curators of the University Libraries;
(2) a person appointed by the Board of the Faculty of Medieval and Modern Languages;
(3) a person appointed by the Curators of the Oriental Institute;
(4) a person appointed by Council;
(5) a person, being a member of Convocation and of Balliol College, appointed by the Master and Fellows of Balliol College.
50.4. (1) Each appointed member of the board of management shall hold office for five years and shall be re-eligible.
(2) The board shall have power to co-opt up to two additional members for periods of five years.
50.5. Congregation may from time to time amend this Part so long as the main object of the fund, as defined in section 50.1 above, is always kept in view.