1. The University accepts with deep gratitude a benefaction of 200,000,000 Yen from the Japan Shipbuilding Industry Foundation to establish a fund, to be known as the Sasakawa Fund, to be applied to the advancement within the University of knowledge and understanding of Japan by way of academic contact and exchange between members of the University and citizens of Japan.
2. The fund shall be administered by a board of management, which shall consist of:
(1) a member of Congregation appointed by Council, not necessarily being a member of any division and not in any case being appointed in a divisional capacity, who shall chair the board;
(2), (3) up to two persons appointed by the board of the Humanities Division;
(4), (5) up to two persons appointed by the board of the Social Sciences Division;
(6) one person appointed by the board of the Mathematical, Physical and Life Sciences Division;
(7) one person appointed by the board of the Medical Sciences Division.
Members shall serve for such periods as the appointing body sees fit.
3. The income of the fund shall be applied to the funding of travel and research in Japan by senior or junior members of the University of Oxford; of study in Oxford by Japanese scholars or students; of the appointment of junior research fellows or research assistants in Oxford; of conferences in Oxford connected with Japan; of publications and of library and other related purposes; or in any other manner which the board of management shall consider will promote the purposes of the fund as expressed in regulation 1 above.
4. Council shall have power to amend this regulation from time to time, provided always that the main purpose of the fund as defined in regulation 1 above is maintained.