1. The University receives with gratitude the generous donations from Mr André Hoffmann and from Action Medical Research (formerly known as the National Fund for Research into Crippling Diseases) 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 Hoffmann and Action Medical Research Professorship in Developmental Medicine 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 salary and expenses of the holder of the Hoffmann and Action Medical Research Professorship in Developmental Medicine (“the Professor”) and associated overheads. The Professor shall undertake research, lecture and give instruction in Developmental Medicine. If the salary, expenses and overheads of the Professor are wholly or partly covered from other sources or there are further funds available, there shall be discretion to apply the income and/or capital of the Fund to support the Professor’s research, or other academic activity in the field of Developmental Medicine.
4. The administration of the Fund, and the application of its income, shall be the responsibility of the Medical Sciences Board.
5. The professor shall be elected by a board of electors consisting of:
(1) the Vice-Chancellor, or, if the Principal of Jesus 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 Principal of Jesus College, or, if the Principal is unable or unwilling to act, a person appointed by the Governing Body of Jesus College on the occurrence of a vacancy to act as an elector on that occasion;
(3) a person appointed by the Governing Body of Jesus College;
(4), (5) two persons appointed by Council;
(6)-(9) four persons appointed by the Medical Sciences Divisional Board;
(10) a person holding a clinical appointment appointed by the relevant NHS body with which the post-holder will hold an honorary contract.
6. 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 this chair.
7. The University accepts with gratitude from Action Medical Research (formerly known as the National Fund for Research into Crippling Diseases) the sum of £60,000 to form a fund, the income from which shall be applied to purposes of the Department of Paediatrics under the direction of the Professor (“the Support Fund”).
8. 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 or the Support 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 or the Support Fund (as the case may be). 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 or the Support Fund (as the case may be) arising in the then current year.
9. The University shall have power to pay out of the capital or the income of the Fund or the Support Fund all costs of and incidental to the creation of the Fund or the Support Fund (as the case may be), and the management and administration of the Fund or the Support Fund and the Professorship.
10. The University may exercise any of its corporate powers in the management and administration of the Fund and the Support Fund in so far as those powers are not inconsistent with these regulations.
11. Regulations 1–4 and 7–13 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
12. Subject to regulation 13, 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 or the Support 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.
13. Any amendment to the main objects of the Fund or the Support Fund for the purposes of Part D of Statute XVI must be approved both by Congregation of the University and subsequently by Her Majesty in Council.