1. The fund (formed to enable grants to be made from time to time to teachers in the Oxford Medical School to help them to pursue some special study connected with Medicine outside Oxford, and out of which the expenses of the award of a Bronze Medal every five years to the Oxford medical graduate who shall, in the opinion of the board of awarders, have made the most valuable contribution to the science, art, or literature of Medicine may be defrayed), shall be called the Osler Memorial Fund.
2. A Bronze Medal shall be awarded once in every five years to the Oxford medical graduate who shall, in the opinion of the board of awarders hereinafter constituted, have made the most valuable contribution to the science, art, or literature of Medicine, and who has not previously received the medal. The medal shall, unless the Vice-Chancellor direct otherwise, be formally presented at a meeting of Congregation held for the purpose of the conferment of degrees.
3. For the purposes of the preceding clause the term ‘Oxford medical graduate’ shall mean a person, whether man or woman, who has taken the Degrees of Bachelor of Arts and Bachelor of Medicine at the University of Oxford.
4. The board of awarders shall be constituted as follows:
(1) the Vice-Chancellor;
(2) a member of a clinical department elected by the Medical Sciences Board;
(3) a member of a pre-clinical department elected by the Medical Sciences Board;
(4), (5) two persons not being members of the University elected by Council on the recommendation of the Medical Sciences Board.
The elected members of the board of awarders shall hold office for five years and be reeligible.
5. All expenses in connection with the award of the Bronze Medal shall be paid out of the income of the fund.
6. The residue of the income of the fund may be used at the discretion of the members of the board of awarders resident in Oxford, other than the Vice-Chancellor, in making grants from time to time to teachers in the Oxford Medical School, recognized as such by the Board of the Faculty of Clinical Medicine, to enable them to pursue some special study connected with Medicine outside the University.
7. Applications for such grants shall be made to the Secretary of Faculties, who shall act as Secretary to the board of awarders.