1. There shall be a Professor of Mathematical Finance, who shall undertake research in Mathematical Finance and shall lecture and give instruction in that subject and generally promote its study in the University.
2. 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 that occasion;
(2) the head of the college to which the professorship shall be for the time being allocated by Council, 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) a person appointed by the Mathematical, Physical and Life Sciences Board;
(7)–(9) three persons elected by the Departmental Committee of the Mathematical Institute.
3. 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.