59.1 The benefaction of £1,997,000 from the Davys Family Trust for Neuroscience Fund, together with any further donations for this purpose, shall be used to establish and maintain the Michael Davys Professorship of Neuroscience.
59.2 The University shall retain all of the benefaction as permanent endowment and shall apply the net income towards the salary and expenses of the holder of the professorship, and associated overheads. If the salary of the professor is wholly or partly covered from other sources, there shall be discretion to apply the net income directly to support the professor’s research.
59.3 The administration of the benefaction, and the application of its income, shall be the responsibility of the Medical Sciences Board.
59.4 The Michael Davys Professor of Neuroscience shall undertake research in neuroscience with a special interest in mental illnesses and shall lecture and give instruction in this subject. In the event there is sufficient income, this shall be applied to an annual Michael Davys Lecture in Neuroscience on a topic of relevance to mental illness.
59.5 The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or, if the head of the college specified in paragraph (2) below is Vice-Chancellor, a person appointed by Council on the occurrence of a vacancy to act as an elector on this occasion;
(2) the head of the college to which the professorship shall be for the time being allocated by Council under any regulation in that behalf, or, if the head is unable or unwilling to act, a person appointed by the governing body of the college on the occurrence of a vacancy to act as an elector on that occasion;
(3) a person appointed by the governing body of the college specified in paragraph (2) above;
(4), (5) two persons appointed by Council;
(6)–(9) four persons appointed by the Medical Sciences Board.
59.6 Sections 59.3–59.5 may be amended by Council.