1. The University accepts with deep gratitude from the Michael Aris Trust for Tibetan and Himalayan Studies, through the generosity of Hans and Märit Rausing and Joseph and Lisbet Koerner, a sum which, together with any further sums which may be donated for the same purpose, shall be used to establish a fund, to be known as the Michael Aris Fund for Tibetan and Himalayan Studies, the net income of which shall be used for the advancement of Tibetan and Himalayan Studies within the University.
2. The fund shall be administered by a board of management comprising the Chairman of the Board of the Faculty of Oriental Studies (chairman), a person appointed by the faculty board, the Keeper of the Oriental Collections in the Bodleian Library, the Boden Professor of Sanskrit, a person appointed by Council, and a person appointed by the Curators of the University Libraries.
3. The first charge on the net income of the fund shall be the salary and associated costs of a university lecturership in Tibetan and Himalayan Studies. Other charges on the fund shall be the provision, under such arrangements as the board of management may from time to time determine, of support for Tibetan language instruction, library provision (both for staff and for materials relating to Tibetan and Himalayan Studies), teaching materials and research expenses for the lecturer, research fellowships, and any other purpose approved by the board of management as contributing to the advancement of Tibetan and Himalayan Studies within the University.
4. The University Lecturer in Tibetan and Himalayan Studies shall lecture and give instruction and carry out advanced study and research in Tibetan and Himalayan Studies under the direction of the Board of the Faculty of Oriental Studies. The lecturer shall be appointed by the Board of the Faculty of Oriental Studies, in accordance with the provisions of Ch. VII, Sect. IV, § 3.
5. Any income unspent in any year on the first and other charges as defined in clause 3 above, whether in consequence of a vacancy in the lecturership or for any other reason, shall, at the discretion of the board of management, either be carried forward for expenditure in subsequent years or be spent in any other way or ways conducive to the advancement within the University of teaching, scholarship, and research in Tibetan and Himalayan Studies.
6. Council shall have power to amend this decree from time to time, provided that the main object of the fund, namely the advancement of Tibetan and Himalayan Studies within the University, shall always be kept in view.