1. The gift (hereinafter called the ‘original gift’) of £4,000, together with any further donations for this purpose, shall be incorporated in the Trusts Pool and shall be called the Gerald Averay Wainwright Fund.
2. (1) There shall be a board of management (hereinafter called ‘the board’) composed of the following persons:
(a) the Vice-Chancellor;
(b) the Keeper of the Department of Antiquities in the Ashmolean Museum;
(c) the Director of the Pitt Rivers Museum;
(d)-(f) three scholars specializing in the archaeology of the Near East;
(g)-(h) one or two persons co-opted by the board.
(2) When a vacancy occurs on the board (other than among the ex officio members) it shall be filled by co-optation by the remaining members of the board, subject to the condition that at least two of the persons described in regulation 2 (1) (d)–(f) above and at least one of those co-opted under regulation 2 (1) (g)–(h) above shall not be members of Congregation; provided that any co-opted member who may become a member of Congregation during his or her term of office shall not be required to resign.
(3) Co-opted members shall serve for five years and shall be re-eligible.
3. (1) There shall be offered for competition annually a prize or prizes, called the Gerald Averay Wainwright Prizes, for the best essay submitted by any student at any school in the United Kingdom.
The board may award prizes, to be apportioned among the candidates according to its discretion, of such value as the board may from time to time determine.
The board may, in addition, make payments for meritorious work to candidates other than the prize winners.
(2) The prize shall be spent on some object or objects approved by the board in furtherance of archaeological studies, which objects may include travel, museum study, and the purchase of books.
(3) The subjects of the essays which shall be chosen by the candidates themselves shall relate to the non-classical antiquity of the Near East. They shall consist of not less than 3,000 words and shall include maps and illustrations.
(4) The board shall appoint examiners to judge the entries. The prize shall be awarded by the board on the recommendation of the examiners.
(5) The board may pay such reasonable remuneration to the examiners as the ViceChancellor and Proctors may approve, and may also incur expenditure from time to time in giving public notice of the prize.
4. The first charges on the fund shall be
(1) the necessary expenses of administration of the fund, which may include the reimbursement of out-of-pocket expenses incurred by members of the board in the discharge of their duties, and
(2) the maintenance of the prizes in accordance with the provisions of regulation 3 above.
5. Whenever, in the opinion of the board, the annual income of the fund remaining after the award of a prize is sufficient, the board shall offer (in accordance with regulations 6-8 below) one or more research fellowships, to be called the ‘Gerald Averay Wainwright Research Fellowships’.
6. Any income remaining after the obligations imposed on the board by regulations 3-5 above have been met shall be available to the board for the making of grants at its absolute discretion for the furtherance of the study of the archaeology of the Near East.
7. The board of management shall have power to award fellowships and prizes on such terms and conditions, not inconsistent with the terms of this regulation, as it shall deem fit.
8. Candidates for a fellowship shall normally be resident in the United Kingdom.
9. Council shall have power at any time to alter, at the suggestion of the board, the provisions of this regulation provided that the intentions of the donor as expressed in the recitals shall be observed.