1. The benefaction from the Zayed Bin Sultan Al Nahayan Charitable and Humanitarian Foundation which comprises £1,500,000, together with any further donations for this purpose, shall be used to establish a fund, to be known as the Shaikh Zayed Endowment Fund for Islamic Studies (‘the Fund’).
2. The University shall retain all of the Fund as permanent endowment and shall apply the net income of the Fund for the advancement of Islamic Studies within the University.
3. The first charge on the net income of the fund shall be the salary and associated costs of a University Lecturership in Islamic Studies, which shall be known as the Shaikh Zayed Lecturership in Islamic Studies (‘the lecturership’). Other charges on the fund shall be the provision, under such arrangements as the Faculty Board may from time to time determine, of support for the advancement of Islamic Studies.
4. The administration of the Fund, and the application of its income, shall be the responsibility of the Faculty Board of Oriental Studies.
5. Any income unspent in any year on the first charge as defined in regulation 3 above, whether in consequence of a vacancy in the lecturership or for any other reason, shall, at the discretion of the board 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 Islamic Studies.
6. These regulations may be amended by Council provided the object as specified in regulation 3 is kept in view.
