1. The University accepts with deep gratitude the munificent benefaction provided by the Rhodes Trust which shall be used for the advancement of Management Studies within the University through the endowment of two Rhodes Lecturerships in Management Studies and through expenditure on their support costs and on related purposes.
2. The Rhodes Lecturers in Management Studies shall lecture and give instruction in Management Studies under the direction of the Board of the Faculty of Management.
3. The lecturers shall be appointed by the Board of the Faculty of Management in accordance with the provisions of Ch. VII, Sect. IV, § 3.
4. The first charge on the net income of the endowment shall be the salary and associated costs of the lecturers. The second charge shall be the provision, under such arrangements as the faculty board may from time to time determine, of support, including teaching materials and research expenses, for the lecturers.
5. Any income unspent in any year on the first and second charges as defined in clause 4 above, whether in consequence of a vacancy in a lecturership or for any other reason, shall, at the discretion of the Board of the Faculty of Management either be carried forward for expenditure in subsequent years or be spent in any other way or ways conducive to the advancement within the University of teaching, scholarship, and research in Management Studies.
6. Council shall have power to amend this decree from time to time, provided always that the main objects of the benefaction, as defined in clause 1 above, shall be kept in view, and that the maintenance of the Rhodes Lecturerships in Management Studies shall remain the first charge on the income of the endowment.