1. The University receives with gratitude gifts to be held as permanent endowment on the trusts declared in this regulation. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts. The assets so held will be known as the Speaker’s Lectureship in Biblical Studies Fund (“the Fund”).
2. The University shall retain as permanent endowment those of the assets in the Fund which are contributed on the express understanding that they are to be treated as permanent endowment (“the Permanent Endowment”).
3. The University shall (a) apply the income of the Permanent Endowment; and (b) apply the income and, in its discretion, the capital of the remainder of the Fund (if any), to provide a stipend for a Lecturer in Biblical Studies to be elected in manner hereinafter provided.
4. The holder of the lectureship shall be known as the Speaker’s Lecturer in Biblical Studies.
5. The lecturer shall be elected by a board of seven electors consisting of:
(1) the Vice-Chancellor;
(2)-(4) three persons appointed by the Humanities Division;
(5)-(7) three persons appointed by the Board of the Faculty of Theology and Religion.
6. The lecturer shall hold office for a period of one year, which may be extended at the electors’ discretion by a further year. No person having held the lecturership shall again be eligible for election until at least two years have elapsed from the date of termination of the preceding period of office.
7. The lecturer shall deliver such number of lectures (not being less than six) as the electors may upon making or extending the appointment prescribe. The lectures shall deal with such subject or subjects in connection with Biblical study as shall be approved or prescribed by the electors.
8. The administration of the Fund, and the application of its income, shall be the responsibility of the Humanities Board.
9. The lecturer shall be entitled to receive such stipend and expenses as the board shall determine.
10. The University shall have power to pay out of the capital or the income of the Fund all costs of and incidental to the management and administration of the Fund and the Lectureship.
11. The University may exercise any of its corporate powers in the management and administration of the Fund in so far as those powers are not inconsistent with these regulations.
12. Regulations 1-4 and 8–14 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
13. Subject to regulation 14, Council may amend, repeal or add to these regulations in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:
(1) cease to be exclusively charitable according to the law of England and Wales; or
(2) be outside the objects of the University.
14. Any amendment to the main object(s) as set out in regulation 3, must be approved both by Congregation of the University and subsequently by His Majesty in Council.
