Chapter XII - 1451k - the University Offices - University of Cambridge

1002 TRUST EMOLUMENTS
Variation by
Deed Poll.
And whereas in the opinion of the University it has now become desirable that other trusts for the original
object should be substituted for those declared by the Principal Deed Poll.
And whereas the Trust Fund constituted by the investments and cash specified in the Schedule to the Principal
Deed is now represented by the investments specified in the Schedule hereto.
Now this deed witnesseth as follows:
1. In exercise of the Power for this purpose conferred upon the University by Clause 16 of the Principal Deed
Poll and of every or any other power enabling the University in this behalf and with the consent and approval of
Lord Wrenbury testified by his joining in and executing this Deed the University hereby revokes and determines
the trusts substituted by the Principal Deed Poll and hereby declares that in lieu thereof the Trust Fund shall be
held upon the trusts and subject to the powers and provisions hereinafter contained.
2. There shall be maintained in the University of Cambridge a Wrenbury Scholarship Fund, the income of
which shall be used for the study of economics and political economy, by the provision of Wrenbury Scholarships
in Political Economy, or otherwise.
3. The University may from time to time make regulations for the Fund. 1
4. Clauses 2 and 3 of this deed shall have effect as though they were a Statute of the University of Cambridge
made under the provisions of the Universities of Oxford and Cambridge Act 1923, save that they shall only be
amended by the procedure set out in clause 5. Without prejudice to the generality of the foregoing, Statutes E, I,
F, IV, and K, 5 of the Statutes of the University of Cambridge shall apply to clauses 2 and 3 of this deed as
though they were a Statute of the University.
5. If at any time in the opinion of the University the purposes for the time being directed for the appropriation
of the Trust Fund shall cease to be the most useful or the manner for the time being directed for its appropriation
to such purposes shall cease to be the most useful and appropriate the University may by Deed Poll under their
Common Seal but only with the consent in writing of the person if any who being sui juris and competent shall
for the time being be the holder of the Barony now held by Lord Wrenbury of Old Castle determine the trusts
for the time being declared and declare such other trusts being trusts for the encouragement of the study of
Economics or any other branch of study as they think fit.
The Schedule hereinbefore referred to
3934 units in the University Amalgamated Fund.
APPENDIX
Managers.
Scholarships.
Value.
Tenure.
Emoluments.
Eligibility.
THE WRENBURY SCHOLARSHIP FUND
1. The Managers of the Wrenbury Scholarship Fund shall be the Faculty Board of Economics.
2. The Faculty Board shall have power to delegate some or all of their functions under these
regulations to a committee not necessarily consisting wholly or partly of members of the Faculty Board.
3. The income of the Fund shall be applied to provide such number of Scholarships called Wrenbury
Scholarships in Political Economy as shall be determined by the Managers from time to time subject
to a maximum approved from time to time by the Council.
4. The value of a Scholarship shall be such sum within a range approved from time to time by the
Council as shall be determined by the Managers, after they have taken account of any other financial
resources that may be available to the Scholar.
5. The Scholarships shall be tenable for one year from 1 October following the election, or from
such date as the Managers may determine.
6. The emoluments of the Scholarship shall be paid in two half-yearly instalments in advance. The
second instalment of the emolument shall not be paid unless the Scholar has satisfied the Managers
that he or she has pursued with sufficient diligence a course of study and training for research approved
by them.
7. The Scholarships shall be open to any member of the University who is or is about to be registered
as a Graduate Student working under the supervision of the Degree Committee for the Faculty of
Economics. It shall be the duty of a Scholar to undertake during the tenure of the Scholarship a course
of full-time study and training for research in some branch of economics or political economy, or
economic history subsequent to the year 1800. A Scholar shall not during the tenure of the Scholarship
follow any business or profession, or engage in any other work which in the opinion of the Managers
would interfere with his or her course of study and training for research, provided that the Managers
may specifically permit a Scholar to hold a Teaching Assistantship in the Faculty of Economics.
8. The Managers may for good cause delay, reduce, or withhold any payment to be made to a
Scholar, and they may for good cause deprive a Scholar of the Scholarship.
1
See Appendix to this Deed Poll.