1. The prize, founded to perpetuate the name of Walter Frank Raphael Weldon, MA, D.Sc., formerly Linacre Professor of Comparative Anatomy and Fellow of Merton College, and to encourage Biometric Science, shall be called the ‘Weldon Memorial Prize’.
2. The prize shall be awarded annually and shall consist of a bronze medal and a grant of money.
3. The electors to the prize shall be
(1) the Vice-Chancellor;
(2) the holder of an Established Chair in the Department of Biology on a rotational basis;
(3)–(4) two persons appointed by the Mathematical, Physical and Life Sciences Divisional Board;
(5)-(6) two persons appointed by the Medical Sciences Divisional Board.
Appointees shall hold office for six years and shall be re-eligible.
4. The electors shall have power to appoint, if they think fit, a judge or judges to assist them in awarding the prize.
5. The prize shall in no case be awarded to the same person a second time.
6. The prize shall, subject to the provisions of regulation 5 above, be awarded without regard to nationality or membership of any University to the person who, in the judgement of the electors, has, in the ten years next preceding the date of the award, published the most noteworthy contribution to the development of mathematical or statistical methods applied to problems in Biology. Biology shall, for the purposes of this clause, be interpreted as including Zoology, Botany, Anthropology, Sociology, Psychology, and Medical Science.
7. The electors shall have the power to divide the prize between two individuals.
8. The grant of money awarded to the winner of the prize shall consist of the remainder of the income of the fund in the year concerned after the payment of the cost of the bronze medal.
9. If no candidate is considered to be of sufficient merit to receive the prize in any year, the income of the fund in that year shall, at the discretion of the electors, be used in any one or more of the following ways:
(a) carrying forward for expenditure in subsequent years;
(b) assigning a grant of money (without the medal) to some person who shall undertake to carry out some investigation approved by the electors;
(c) otherwise promoting the investigation of mathematical or statistical methods applied to problems in Biology.
10. The electors shall have power to make rules for the purpose of carrying these regulations into effect; and Council shall have power to alter the regulations from time to time in such manner as it shall deem expedient, provided that the main objects of the foundation as expressed in regulations 1 and 6 above are always kept in view.