1. The schedule of funding from the Skoll Foundation, through Americans for Oxford Inc, totalling £4,444,196 shall be used to fund the creation, management, and activities of the Skoll Centre for Social Entrepreneurship (‘the Centre’) in the Saïd Business School. The schedule of funding comprises six payments to be made over the period 22nd December 2003 to 1st December 2007, with those payments from 2005 onwards triggered by receipt of reports from the Centre.
2. The annual income of the fund shall be applied for the purpose stated in regulation 1 above.
3. The administration of the Centre, and the application of the fund, shall be the responsibility of the School Board of the Saïd Business School.
4. The school shall appoint a University Lecturer in Social Entrepreneurship to be funded by the fund, to be known as the Skoll University Lecturership in Social Entrepreneurship.
5. The Centre shall offer five scholarships annually to MBA students under the title of Skoll Scholarships.
6. Regulation 3 above may be amended by Council.