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Oxford University Gazette, 1 March 2007: University Acts

COUNCIL OF THE UNIVERSITY

Changes in Regulations

The Council of the University has made the following changes in regulations, to come into effect on 16 March.

Investment Committee

In Council Regulations 15 of 2002, concerning Committees Reporting Directly to Council or One of its Main Committees (Supplement (2) to Gazette No. 4628, 26 June 2002) delete existing regulations 3.64–3.66 and substitute:

'3.64. The Investment Committee shall consist of:

(1) the Vice-Chancellor;

(2) at least five persons appointed by Council who shall not be the holders of teaching or administrative posts in the University, or in any college, society, or Permanent Private Hall, and all of whom shall bring recent and relevant expertise of investment management to the working of the committee, one of whom shall be appointed by Council to serve as chairman of the committee;

(3) at least two other members appointed by Council who shall have recent and relevant expertise of investment management.

All members of the committee shall serve for five years and shall be re-eligible for reappointment.

3.65. The committee shall be responsible, overall, for:

(1) supervising the management of University endowed funds and any funds placed with the University by external bodies within guidelines it determines and with performance measured in relation to a benchmark(s) chosen in order to meet the University's objective; and

(2) for reporting to Council.

3.66. In particular, the committee shall be responsible for:

(1) defining and agreeing with the Council Investment Supervisory Committee the investment objectives;

(2) setting guidelines and a benchmark(s) in order to meet the objective;

(3) recruiting, supporting, appraising and monitoring of the Chief Investment Officer;

(4) recommending (individually and as a committee) managers; and

(5) advising on matters relating to asset allocation and manager selection.'

[This change establishes a new Investment Committee with a majority of members actively involved professionally in fund management. The committee will report to Council.]

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PLANNING AND RESOURCE ALLOCATION COMMITTEE OF COUNCIL

Changes in Regulations

The Planning and Resource Allocation Committee of Council has made the following changes in regulations, to come into effect on 16 March.

Renaming one of the five Professorships of Economics

1 In SCHEDULE A of Council Regulations 3 of 2004, concerning statutory professorships, delete 'Professor of Economics (five)' and substitute 'Professor of Economics (four)'.

2 Ibid., after 'Sir John Hicks Professor of Economics' insert:

'James Meade Professor of Economics'.

3 In Sect. III of Council Regulations 24 of 2002, concerning individual professorships (Statutes, 2000, p. 413, as redesignated as regulations by Decree (5) of 11 July 2002, Gazette, Vol. 132, p. 1461), delete existing § 62 and substitute:

'§ 62. Professors (four) of Economics

1. There shall be four Professors of Economics who shall engage in advanced study and research and shall lecture and give instruction in Economics.

2. The professors shall each be elected by an electoral board consisting of:

(1) the Vice-Chancellor, or, if the head of the college specified in paragraph (2) below is Vice-Chancellor, a person appointed by Council;

(2) the head of the college to which the professorship shall be for the time being allocated by Council under any regulation in that behalf, or if the head is unable or unwilling to act, a person appointed by the governing body of the college;

(3) a person appointed by the governing body of the college specified in paragraph (2) above;

(4), (5) two persons appointed by Council;

(6) a person appointed by the Social Sciences Board;

(7)–(9) three persons appointed by the General Purposes Committee of the Department of Economics.

3. The professors shall be subject to the General Provisions of the regulations concerning the duties of professors and to those Particular Provisions of the same regulations which are applicable to these chairs.

3 Ibid., insert new § 66 and renumber existing §§ 66–109 (pp. 414–30) as §§ 67–110:

'§ 66. James Meade Professor of Economics

1. The James Meade Professor of Economics shall lecture and give instruction in economics.

2. The professor shall be elected by an electoral board consisting of:

(1) the Vice-Chancellor, or if the Warden of Nuffield College is Vice-Chancellor, a person appointed by Council on the occurrence of a vacancy to act as an elector on that occasion;

(2) the Warden of Nuffield College; or if the Warden is unable or unwilling to act, a person appointed by the governing body of Nuffield College on the occurrence of a vacancy to act as an elector on that occasion;

(3) a person appointed by the governing body of Nuffield College;

(4), (5) two persons appointed by Council;

(6) a person appointed by the Social Sciences Board; and

(7)–(9) three persons appointed by the Department of Economics.

3. The professor shall be subject to the General Provisions of the regulations concerning the duties of professors and to those Particular Provisions of the same regulations, which are applicable to the Chair.

[These changes, made on the recommendation of the Social Sciences Board, rename one of the Professorships of Economics in the Social Sciences Division as the James Meade Professor of Economics for the period of proleptic appointment and for the substantive post following retirement of the current post- holder.]

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COUNCIL OF THE UNIVERSITY

Register of Congregation

Mr Vice-Chancellor reports that the following names have been added to the Register of Congregation:

D'Haeseleer, T.M.V., Faculty of Oriental Studies

Gada, S., Faculty of Clinical Medicine

Lee, A.C.H., St John's

Rainey, S.F., University Development Office

Tao, R., Corpus Christi

Teal, A.R., Pembroke

Westbrook, J., Faculty of Clinical Medicine

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BOARDS OF FACULTIES

For changes in regulations for examinations, to come into effect on 16 March, see 'Examinations and Boards' below.

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