1. The University accepts with gratitude the sum of £50,000 from the estate of the late Professor Sir Sarvepalli Radhakrishnan which shall form a fund to be called the Radhakrishnan Memorial Bequest.
2. There shall be a board of management of the bequest composed of the following persons:
(1) the Vice-Chancellor;
(2) Dr S. Gopal during his life-time;
(3) the Spalding Professor of Eastern Religions and Ethics;
(4) the Warden of All Souls;
(5) the Chairman of the Inter-faculty Committee for South Asian Studies.
The board of management shall have power to co-opt up to two additional members for periods of five years.
3. There shall be an electoral board, comprising: (1) the Vice-Chancellor; (2), (3) two members of the board of management appointed by the board; (4) Dr S. Gopal during his life-time, and thereafter a third member of the board of management appointed by the board.
4. The electoral board shall at least in every other year elect a scholar, with a preference for scholars from outside Oxford, to visit the University either in Michaelmas or Hilary or Trinity Term (but not in more than one) to give a series of lectures in some field of Indian Studies.
5. The lecturer shall be known as the Radhakrishnan Memorial Lecturer.
6. The board of management shall fix the amounts of the lecturer’s emoluments and expenses, which shall be paid from the income of the Radhakrishnan Memorial Bequest.
7. 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 citizens of 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.