1. The University has accepted with deep gratitude the sum of £1,000,000 from the Trustees of the Edward Penley Abraham Research Fund for the endowment of a David Phillips Professorship of Molecular Biophysics and for the provision of supporting costs for the professorship, and a further £250,000 from the Trustees of the E.P.A. Cephalosporin Fund for the support of research and education in the Medical, Biological, and Chemical Sciences.
2. The David Phillips Professor of Molecular Biophysics shall undertake research, lecture and give instruction in Molecular Biophysics.
3. The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor;
(2) the head of the college to which the professorship may be allocated by Council from time to time, or, if the head is unable or unwilling to act, a person appointed by the governing body of that college;
(3) a person appointed by the governing body of the college specified in (2) of this clause;
(4), (5) two persons appointed by Council;
(6)–(9) four persons appointed by the Medical Sciences Board.
4. The professor shall be subject to the General Provisions of the regulations concerning the duties of professors and to those Particular Provisions of the same regulations which are applicable to this chair.
5. Such part of the income of the endowment as is not required to meet the costs of the professorship shall be expended on supporting expenditure for the professor in such as Council approves.