72.1. The University accepts with deep gratitude from Mr. Samir Shamma a sum to be held as permanent endowment 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 Samir Shamma Associate Professorship in Islamic Numismatics, Epigraphy and Material Culture Fund (“the Fund”).
72.2. 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”).
72.3 The University shall (a) apply the income of the Fund held as permanent endowment; and (b) apply the income and, in its discretion the capital of the remainder of the Fund for the establishment and maintenance of the Samir Shamma Associate Professorship in Islamic Numismatics, Epigraphy and Material Culture.
72.4. (1) The Associate Professor shall lecture, give instruction and carry out research in Islamic Numismatics, Epigraphy and Material Culture under the direction of the Board of the Faculty of Oriental Studies.
(2) The Associate Professor shall be subject to the General Provisions of the regulations concerning the duties of Associate Professors and to those Particular Provisions of the same regulations which are applicable to this post.
72.5. The administration of the Fund, and the application of its income, shall be the responsibility of the Board of the Faculty of Oriental Studies (“the Board of Management”).
72.6. (1) The first charge on the net income of the endowment shall be the salary and associated costs of the Associate Professor. The second charge shall be the provision, under such arrangements as the Board of Management may from time to time determine, of support, including but not limited to teaching materials and research expenses, for the Associate Professor.
(2) Any income unspent in any year on the first and second charges as defined in (1) above, whether in consequence of a vacancy in the Associate Professorship or for any other reason, shall, at the discretion of the Board of Management, either be carried forward for expenditure in a subsequent year or be spent in any way or ways conducive to the advancement within the University of teaching, scholarship, and research in Islamic Numismatics, Epigraphy and Material Culture.
72.7. The University shall have power to pay out of the income of the Fund all costs of and incidental to the creation of the Fund and the management and administration of the Fund and the post.
72.8. 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.
72.9 Subject to section 72.10, Council shall have the power to 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.
72.10 Any amendment to section 72.(3) 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.
