Council and Main Committees

  • Thursday 6 March 2014
  • NO. 5053
  • VOL. 144

General Purposes Committee of Council

Changes in Regulations

The General Purposes Committee of Council has made the following changes in regulations, to come into effect on 21 March.

(a) Establishment of the Sackler Keeper of Antiquities Endowment Fund

Explanatory Note

These regulations establish 'The Sackler Keeper of Antiquities Endowment Fund' for the purpose of endowing the functions and activities of the Sackler Keeper of Antiquities at the Ashmolean.

Text of Regulations

In Part 2 of Council Regulations 25 of 2002, concerning trusts, insert new §310 as follows, and renumber existing §§310–398 as §§311–399:

'§310. Sackler Keeper of Antiquities Endowment Fund

1. The University receives with gratitude the sum of £500,000 and the commitment of a further £1,500,000 from the Dr Mortimer and Theresa Sackler Foundation to be held as permanent endowment on the trusts declared in this regulation. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts. The assets so held will be known as the Sackler Keeper of Antiquities Endowment Fund ("the Fund").

2. The University shall retain as permanent endowment those of the assets in the Fund which are contributed on the express understanding that they are to be treated as permanent endowment ("the Permanent Endowment").

3. The University shall (a) apply the income of the Permanent Endowment; and (b) apply the income and, in its discretion, the capital of the remainder of the Fund, towards the purposes, functions and activities of the Sackler Keeper of Antiquities at the Ashmolean. The Fund shall not be applied to pay the expenses (other than salary) relating to the Sackler Keeper of Antiquities at the Ashmolean, including the overhead, travel, administrative and pension costs associated with such post.

4. The administration of the Fund, and the application of its income, shall be the responsibility of the Board of Visitors of the Ashmolean.

5. The University may in its absolute discretion in the period ending 21 years from the date of this regulation, instead of applying the income of the Fund in any year, accumulate all or any part of such income by investing it, and holding it as part of the capital of the Fund. The University may apply the whole or any part of such accumulated income in any subsequent year as if it were income of the Fund arising in the then current year.

6. The University shall have power to pay out of the capital or the income of the Fund all costs of and incidental to the creation of the Fund, and the management and administration of the Fund.

7. The University may exercise any of its corporate powers in the management and administration of the Fund in so far as those powers are not inconsistent with these regulations.

8. Regulations 1–10 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.

9. Subject to regulation 10, Council may amend, repeal or add to these regulations in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:

(1) cease to be exclusively charitable according to the law of England and Wales; or

(2) be outside the objects of the University.

10. Any amendment to regulation 3 is an amendment to the main objects of the Fund for the purposes of Part D of Statute XVI and must be approved both by Congregation of the University and subsequently by Her Majesty in Council.'

(b) Establishment of the David Walker Fellowship Fund

Explanatory Note

These regulations establish 'The David Walker Fellowship Fund' for the purpose of supporting the costs of visiting fellows at the Bodleian Libraries.

Text of Regulations

In Part 2 of Council Regulations 25 of 2002, concerning trusts, insert new §363 as follows, and renumber existing §§363–391 as §§364–392:

'§363. David Walker Fellowship Fund

1. The University receives with gratitude the sum of £125,000 from the executors of the estate of David Walker to be held as permanent endowment on the trusts declared in this regulation. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts. The assets so held will be known as the David Walker Fellowship Fund ("the Fund").

2. The University shall retain as permanent endowment those of the assets in the Fund which are contributed on the express understanding that they are to be treated as permanent endowment ("the Permanent Endowment").

3. The University shall (a) apply the income of the Permanent Endowment; and (b) apply the income and, in its discretion, the capital of the remainder of the Fund in supporting the costs of visiting fellows at the Bodleian Libraries, to be known as David Walker Fellows. Preference shall be given to those fellows with an interest in the English Renaissance and book illustration and illumination.

4. The administration of the Fund, and the application of its income, shall be the responsibility of the Curators of the University Libraries.

5. The University may in its absolute discretion in the period ending 21 years from the date of this regulation, instead of applying the income of the Fund in any year, accumulate all or any part of such income by investing it, and holding it as part of the capital of the Fund. The University may apply the whole or any part of such accumulated income in any subsequent year as if it were income of the Fund arising in the then current year.

6. The University shall have power to pay out of the capital or the income of the Fund all costs of and incidental to the creation of the Fund, and the management and administration of the Fund.

7. The University may exercise any of its corporate powers in the management and administration of the Fund in so far as those powers are not inconsistent with these regulations.

8. Regulations 1–10 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.

9. Subject to regulation 10, Council may amend, repeal or add to these regulations in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:

(1) cease to be exclusively charitable according to the law of England and Wales; or

(2) be outside the objects of the University.

10. Any amendment to regulation 3 is an amendment to the main objects of the Fund for the purposes of Part D of Statute XVI and must be approved both by Congregation of the University and subsequently by Her Majesty in Council.'

Council of the University

Register of Congregation

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

Fresen, J L, Faculty of Statistics

Herrington, W G, Faculty of Clinical Medicine

Masud, S, Faculty of Clinical Medicine

Ovseiko, P V, Jesus

Reed, R C, St Anne's

Riddle, C L, Research Services

Rolfe, A W, Corpus Christi

Sakellaridis, D, Careers Service

Wilson, F C, St John's