Part of Council Regulations 25 of 2002: Trust Regulations
The income of the St Catherine of Alexandria Prize Fund shall be used for the annual award of a prize by the examiners to the member of one of the Anglican theological colleges (who intends to be ordained in the Church of England and who is not also a member of one of the societies recognized in Title VII) with the best performance in the Honour School of Theology, provided that his or her work is deemed to be of sufficient merit. If in any year the prize is not awarded, the income from the fund shall be carried forward for use in whole or in part to augment the value of the prize on subsequent occasions at the discretion of the examiners for each occasion.