1. The benefaction from the Medtronic Foundation which comprises $150,000, together with any further donations for this purpose, shall be known as the Medtronic Biomedical Engineering Scholarship Fund.
2. The University shall apply the capital and income from the Fund to support scholarships for students on the MSc degree course in Biomedical Engineering at the University of Oxford. These scholarships will be available to UK/EU students who are female and/or from ethnic minorities.
3. The administration of the Fund, and the application of its capital and income, shall be the responsibility of a Board of Management comprising:
(1) Director, Institute of Biomedical Engineering.
(2) Director of Graduate Studies, Department of Engineering Science.
(3) Senior Administrator, Department of Engineering Science.
4. Regulation 3 above may be amended by Council.