53.1. The main objects of the Thomas Whitcombe Greene Bequest shall be the foundation of a prize, to be called the Thomas Whitcombe Greene Prize, for Classical Art and Archaeology, and the foundation of postgraduate scholarships, to be called the Thomas Whitcombe Greene Scholarships, for advanced research.
53.2. The prize and scholarships shall be awarded by a committee consisting of the Lincoln Professor of Classical Archaeology and Art together with five persons appointed by the Board of the Faculty of Classics.
53.3. The prize shall be open to members of the University who are reading for an honour school in the University.
53.4. The value of the prize shall be determined by the Board of the Faculty of Classics, and the prize shall be offered annually.
53.5. If there is no candidate of sufficient merit the prize shall not be awarded.
53.6. The prize shall not be awarded a second time to the same person.
53.7. The scholarships shall be open to members of the University who are engaged in advanced research, subject to any further conditions which the Board of the Faculty of Classics may prescribe, except that if an undergraduate is elected to a scholarship the election shall be conditional on his or her proceeding to a degree in the University before he or she receives any part of the emoluments.
53.8. The value of the scholarships shall be determined by the Board of the Faculty of Classics.
53.9. The committee shall determine the conditions of award of the prize and scholarships, and of the tenure of the scholarships, and there shall be defrayed from the net income of the bequest any expenses incidental to the carrying out of its purposes, including the remuneration of examiners (if any).
53.10. Any balance of income, so far as not required for the above purposes, may, if the committee so determines, be applied to one or more of the following:
(1) the provision of occasional additional prizes or scholarships;
(2) the maintenance of a foundation to be known as the Thomas Whitcombe Greene Reserve Fund, which shall be applied by the committee to furnish grants to members of the University for the furtherance of the study of Classical Art and Archaeology, or to institutions connected with those subjects;
(3) the foundation of an additional scholarship or scholarships.
53.11. Congregation may from time to time amend this Part so long as the main objects of the bequest, as defined in section 53.1 above, are always kept in view.