1. The University accepts with gratitude the sum of £50,000 from the estate of the late Professor Sir Sarvepalli Radhakrishnan to be held as permanent endowment on the trusts declared in this regulation. Further money 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 as the Radhakrishnan Memorial Bequest ("the Fund").
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”).
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, to enable a scholar to visit the University to give a series of lectures in some field of Indian Studies.
4. There shall be a board of management of the bequest composed of the following persons:
(1) the Vice-Chancellor;
(2) the Spalding Professor of Eastern Religions and Ethics;
(3) the Warden of All Souls;
(4) the Chairman of the Inter-faculty Committee for South Asian Studies;
(5), (6) two persons appointed by the Board of the Faculty of Oriental Studies.
The board of management shall have power to co-opt up to three additional members for such periods as the board sees fit.
5. The board of management shall at least in every other year elect a scholar, with a preference for scholars from outside Oxford.
6. The scholar shall be known as the Radhakrishnan Memorial Lecturer.
7. The board of management shall fix the amounts of the Radhakrishnan Memorial Lecturer’s emoluments and expenses, which shall be paid from the income of the Radhakrishnan Memorial Bequest.
8. Any income not used to pay the emoluments and expenses of the Radhakrishnan Memorial Lecturer may at the discretion of the board of management be:
(a) carried forward for use in a subsequent year;
(b) applied to assist students who are ordinarily resident in the Republic of India and who are studying, or wish to study, in Oxford;
(c) applied in any other way which the board shall think conducive to the promotion of Indian Studies in the University of Oxford.
9. The University may in its absolute discretion in the period ending 21 years from the date of this regulation, instead of applying the income of the Fund in any year, accumulate all or any part of such income by investing it, and holding it as part of the capital of the Fund. The University may apply the whole or any part of such accumulated income in any subsequent year as if it were income of the Fund arising in the then current year.
10. 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 and lecturership.
11. 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 these regulations.
12. These regulations shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
13. Subject to regulation 14, Council may amend, repeal or add to these regulations 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.
14. Any amendment to regulation 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.