1. The benefaction from the Trustees of the Tubney Charitable Trust and from Second Titan Limited as the Trustee of the Miles Blackwell No. 2 Trust which comprises the Tubney House Estate, Oxfordshire (‘the Estate’) and a sum of money for the repair and conversion of Tubney House (‘the Refurbishment Payment’), together with the proceeds of sale should the Estate be sold (‘the Estate Proceeds’), and any further assets transferred to the University on the trusts of these regulations, shall be known as the Wildlife Conservation and Research Fund (‘the Fund’).
2. (1) The University shall apply the Fund towards seeking solutions to conservation problems by undertaking original research on aspects of fundamental biology relevant to wildlife conservation and environmental management (‘the Objects’).
(2) The University shall hold the Estate or, if it is sold, the Estate Proceeds, as permanent endowment, the capital of which is to be retained and the income applied to the Objects.
(3) The balance of the Fund shall not be regarded as permanent endowment.
(4) In the case of the Refurbishment Payment, both capital and income shall be applied to the repair and conversion of Tubney House.
(5) The University shall have a discretion over whether or not to have recourse to other capital moneys in the Fund, provided that these are applied to the Objects.
3. The administration of the Fund, and the application of its capital and income, shall be the responsibility of the Life and Environmental Sciences Board.
4. Regulation 2 above may be amended by Congregation under the provisions of Statute IV, subject to the approval of Her Majesty in Council, in accordance with the Universities of Oxford and Cambridge Act, 1923; regulations 1 and 3 may be amended by Council, so long as the Objects are always kept in view.