1. The benefaction from the estate of the late Mr John Simon Gabriel Simmons, together with any further donations for this purpose, shall be known as the Simmons Bequest.
2. The University shall divide the Bequest into three equal funds, to be known respectively as the Nicholson, Woodbine, and Konovalov Funds, for the following purposes:
(1) Nicholson Fund—to further the charitable purposes of the University of Oxford with specific reference to the clerical, technical and janitorial staffs of the Bodleian and its dependent libraries;
(2) Woodbine Fund—for the acquisition, binding and conservation of reference works for the Bodleian Old Library; and
(3) Konovalov Fund—for the acquisition of works in the Slavonic and East European fields for the Bodleian Library only.
3. Bodley’s Librarian shall be responsible to the Curators of the University Libraries for administration of the funds subject to annual report to the Curators on the exercise of this responsibility.
4. Those responsible for the administration of the Funds shall do so in accordance with the purposes of the Funds as given in 2 above.
5. Regulations 1 and 3 above may be amended by Council.