1. The University accepts with gratitude the sum of £2,500 from the Yamanouchi Research Institute, and any further sums which may contributed for the same purpose, to establish a fund the net income of which shall be used for the award of a prize to be known as Yamanouchi Cell Biology Prize.
2. The fund shall be administered by a board of management consisting of
(1) the Director of Pre-Clinical Studies (or his or her nominee);
(2) a person appointed by the Medical Sciences Board in consultation with the Director of Pre-Clinical Studies for such period or periods as it shall determine.
3. The prize shall be awarded annually, provided that there is a candidate of sufficient merit, for performance in the Final Honour School of Medical Sciences or Final Honour School of Physiological Sciences on such terms as the board of management shall from time to time determine.
4. The board of management may in any year withhold the prize if in its opinion there is no candidate of sufficient merit. Income not expended in any year shall be carried forward for expenditure in subsequent years.
5. Council shall have power to amend this decree from time to time, provided that the purpose of the fund, as defined in clause 1 above, shall always be kept in view.