1. The sums contributed by friends and colleagues in memory of Sarah J. Clackson will provide travel and research grants to anyone undertaking work on Coptic manuscripts including the viewing, preparation, and recording of the material, but not conservation.
2. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts.
3. 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”).
4. The administration of the Fund, and the application of its income, shall be the responsibility of the Board of the Faculty of Asian and Middle Eastern Studies.
5. Any unspent income may be applied at the discretion of the Board of Management in some other way consistent with the promotion of the study and/or research of Coptic.
6. 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.
7. 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.
8. These regulations shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
9. Subject to regulation 10, 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. 10. 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.
