67.1. The University holds as permanent endowment the assets known as the Goodger Scholarships Fund and the Schorstein Research Fellowships Fund in Medical Science on the trusts declared in this Part of the Schedule to the Statutes. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts. The assets so held will be known collectively as the Goodger and Schorstein Fund for Research Scholarships in Medical Science ("the Fund").
67.2. The University shall retain as permanent endowment those of the assets in the Fund which are contributed on the express understanding that they are to be treated as permanent endowment ("the Permanent Endowment").
67.3. The University shall (a) apply the income of the Permanent Endowment; and (b) apply the income and, in its discretion, the capital of the remainder of the Fund (if any), towards research scholarships and/or fellowships in medical science.
67.4. The administration of the Fund, and the application of its income, shall be the responsibility of a board of management consisting of three persons appointed by the Medical Sciences Divisional Board.
67.5. The University shall have power to pay out of the capital or the income of the Fund all costs of and incidental to the creation of the Fund, and the management and administration of the Fund.
67.6. The University may exercise any of its corporate powers in the management and administration of the Fund in so far as those powers are not inconsistent with this Part.
67.7. Subject to section 8, Council may amend, repeal or add to this Part in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:
(1) cease to be exclusively charitable according to the law of England and Wales; or
(2) be outside the objects of the University.
67.8. Any amendment to section 3 of this Part is an amendment to the main objects of the Fund for the purposes of Part D of Statute XVI and must be approved both by Congregation of the University and subsequently by His Majesty in Council.
