1. The University accepts with gratitude from the Oxford Diabetes Trust the sum of £1,017,620, and any further sums which may be contributed for the same purpose, to establish a fund, to be called the Sheikh Rashid Diabetes Fund, which shall be used for the furtherance of research into diabetes and allied metabolic diseases.
2. The administration of the Fund, and the application of its income, shall be the responsibility of the Oxford Centre for Diabetes, Endocrinology and Metabolism Management Board (the “OCDEM”).
3. The fund shall be used:
(a) for the support of a senior investigator in the field of diabetes and allied metabolic diseases, and appropriate assistance;
(b) for other purposes consistent with the furtherance of the study of this field.
4. The OCDEM shall have discretion to expend the capital as well as the income of the fund.
5. Council shall have power to amend these regulations from time to time, provided that the main object of the fund, as defined in clause 1 above, is always kept in view.