No 6505
Thursday 10 May 2018
Vol cxlviii No 29
pp. 550–569
10 May, Thursday. Ascension day. Scarlet day.
15 May, Tuesday. Discussion in the Senate-House at 2 p.m. (see below).
19 May, Saturday. Congregation of the Regent House at 10 a.m.
20 May, Sunday. Whitsunday. Scarlet day. Preacher before the University at 11.15 a.m., Dr D. Mukarji OBE, formerly Director of Christian Aid and sometime Vice-President of the Methodist Conference.
21 May, Monday. Easter Term divides.
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Discussions (at 2 p.m.) |
Congregations |
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15 May |
19 May, Saturday at 10 a.m. |
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29 May |
20 June, Wednesday at 2.45 p.m. (Honorary Degrees) |
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12 June |
27 June, Wednesday at 10 a.m. (General Admission) |
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26 June |
28 June, Thursday at 10 a.m. (General Admission) |
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10 July |
29 June, Friday at 10 a.m. (General Admission) |
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30 June, Saturday at 10 a.m. (General Admission) |
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20 July, Friday at 10 a.m. |
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21 July, Saturday at 10 a.m. |
The Vice-Chancellor invites those qualified under the regulations for Discussions (Statutes and Ordinances, p. 105) to attend a Discussion in the Senate-House on Tuesday, 15 May 2018 at 2 p.m., for the discussion of:
1.Report of the Council, dated 1 May 2018, pursuant to Special Ordinance A (i) 7(b) concerning an initiated Grace relating to the University and the Universities Superannuation Scheme (Reporter, 6504, 2017–18, p. 539).
The Report published in this issue (p. 556) will be discussed on 29 May 2018.
Further information on Discussions, including details on format and attendance, is provided at https://www.governance.cam.ac.uk/governance/decision-making/discussions/.
The Council has received the remarks made at the Discussion on 1 May 2018 (p. 567) concerning the above Report (Reporter, 6502, 2017–18, p. 514).
The Council acknowledges the note of dissent signed by two members of the Council concerning the above Report (Reporter, 6502, 2017–18, p. 515), and has received the remarks made by Professor Anderson, as supported by Professor Evans. The Council wishes to make the following points by way of clarification.
The Council makes the recommendations in the Report in order to capture a market opportunity of securing external finance at historically low interest rates, with the objective of providing the University with the option of developing its non-operational estate (defined as capital projects outside those directly enabling core academic teaching and research activities). Such projects are of strategic importance, bringing significant indirect benefits, and considered essential to the University’s primary mission. Such income-generating projects will, inter alia, address the critically important housing challenge, provide alternative income streams at a time of significant financial volatility, and add significant long-term value in the service of the University’s academic mission and student interest.
While specific business cases are indeed immature at this stage, the Council has a high degree of confidence in the collective potential of such projects. The Council is therefore seeking to secure the option for the University to progress such projects in the future, if the business cases for individual projects demonstrate it is appropriate to do so. This authority for advancing external borrowings would not have an impact on normal University governance processes for the sanction of individual development projects as their business cases are matured and were ready for formal approval.
While significant lessons have been, and must continue to be, learned from the North West Cambridge Phase 1 development, as identified through the post-implementation audits, it should be remembered in this context that Phase 1 was executed primarily as a strategic project for the provision of affordable key worker housing for postgraduates and staff. It was not wholly justified or optimized in design or execution on commercial grounds. That having been said, there was a clear expectation that the income from rental and capital receipts would enable both the principal and interest on the element of the loan relating to Phase 1 to be repaid on time. As set out below, every effort will be made to enhance the financial position of Phase 1 through optimizing the use of the site over time, in conjunction with North West Cambridge Phase 2, if approved, and with other potential housing developments. Eddington has significant future value as a vibrant, established mixed-usage central city quarter, and ultimately, the University will be in a position to realize value at the end of the original loan term through market disposals, or re‑financing as appropriate, to repay the loan principal. There should be no resultant risk to the academic University’s finances.
For future purposes, the Council will not recommend any new projects serviced by external borrowings unless they have robust, stress-tested, business cases with a high degree of confidence of commercial returns. Changes have been, and will continue to be, made in response to the lessons learned and there is no reason why the University’s governance, decision-making, and management structures should not be capable of managing such opportunities successfully in the future.
The Council through its Finance Committee has considered both the ‘cost of carry’ of the additional borrowings pending project decisions, and a theoretical ‘fall-back option’ of long-term investment in the Cambridge University Endowment Fund should no projects meet these rigorous financial criteria. Under conservative assumptions, these indicate a high level of cover in meeting both interest over the loan life and principal repayment.
The Council is submitting a Grace (Grace 2, p. 562) for the approval of the recommendations of this Report.
The Council has received the remarks made at the Discussion on 1 May 2018 (p. 568) concerning the above Report (Reporter, 6502, 2017–18, p. 516).
The Council notes, in relation to the points made by Dr Thomas, that the current plans for the Harrison Drive Nursery proposal will provide a total of 84 bicycle parking spaces (52 covered and 32 uncovered), available to staff and parents of the proposed nursery, and also to other University users including staff who work at the neighbouring Donald McIntyre Building. Sixty of the places will be situated adjacent to the main entrance of the nursery offering a safe route to the front door. An external buggy store will also be located immediately next to the main entrance. The ongoing development of the proposal will take into account the comments about the parking of cycle child trailers so that adequate provision can be made.
The Council is submitting a Grace (Grace 3, p. 562) for the approval of the recommendations of this Report.
The Council and the General Board have received recommendations from the General Board’s Education Committee concerning the practice of publicly displaying class-lists outside the Senate-House and subsequently publishing them in the Reporter, and other matters concerning class-lists, for implementation by 25 May 2018 (the application date of the GDPR).
The Council is submitting a Grace (Grace 8, p. 562) for the approval of the changes to Ordinances to reflect the proposals in so far as they relate to Graduate Students and recipients of higher degrees, with effect from 25 May 2018, as set out in the Annex to this Notice.
1. By replacing the last two sentences of the Regulations listed below with the following wording:
Subject to the candidate’s agreement being received by the Secretary not later than the last day of the term following the term or vacation in which the decision on her or his candidature was made or in exceptional circumstances, which it shall itself determine, accept a candidate’s agreement at a later date, the Board shall approve the candidate for the award of that degree and the Secretary shall publish a notice of such approval unless the candidate has requested the removal of her or his name from the published list in accordance with a procedure approved from time to time by the General Board.
(i)Doctor of Business (Statutes and Ordinances, p. 449): Regulation 14;
(ii)Doctor of Education (Statutes and Ordinances, p. 463): Regulation 15;
(iii)Doctor of Engineering (Statutes and Ordinances, p. 467): Regulation 15;
(iv)Doctor of Philosophy, Master of Science, Master of Letters, and Master of Philosophy by Dissertation (Statutes and Ordinances, p. 499): Regulation 20.
2. By inserting the following at the end of the first sentence of Regulation 13 of the regulations for the Master of Studies (Statutes and Ordinances, p. 555):
unless the candidate has requested the removal of her or his name from the published list in accordance with a procedure approved from time to time by the General Board. Distinctive marks may be attached to the names of those candidates who in the opinion of the Examiners deserve special credit.
3. By inserting the following wording into the Regulations as specified in the sub-paragraphs below:
unless the candidate has requested the removal of her or his name from the published list in accordance with a procedure approved from time to time by the General Board
(a)Doctor of Business (Statutes and Ordinances, p. 449): at the end of the final sentence of Regulation 12;
(b)Bachelor of Divinity (Statutes and Ordinances, p. 459): at the end of the final sentence of Regulation 8;
(c)Doctor of Divinity (Statutes and Ordinances, p. 461): at the end of the penultimate sentence of Regulation 9;
(d)Doctor of Education (Statutes and Ordinances, p. 463): at the end of the final sentence of Regulation 13;
(e)Doctor of Engineering (Statutes and Ordinances, p. 467): at the end of the final sentence of Regulation 13;
(f)Doctor of Law (Statutes and Ordinances, p. 474): at the end of the penultimate sentence of Regulation 8;
(g)Doctor of Medicine (Statutes and Ordinances, p. 483): at the end of the final sentence of Regulation 14;
(h)Doctor of Medicine, Special Regulations (Statutes and Ordinances, p. 486) at the end of the final sentence of Regulation 15;
(i)Doctor of Medical Science (Statutes and Ordinances, p. 489): at the end of the penultimate sentence of Regulation 9;
(j)Master of Surgery (Statutes and Ordinances, p. 491): at the end of the final sentence of Regulation 11;
(k)Doctor of Music (Statutes and Ordinances, p. 498): at the end of the penultimate sentence of Regulation 7;
(l)Doctor of Philosophy, Master of Science, Master of Letters, and Master of Philosophy by Dissertation (Statutes and Ordinances, p. 499): at the end of the final sentences of Regulation 17 and Regulation 18;
(m)Doctor of Philosophy, Special Regulations (Statutes and Ordinances, p. 503): at the end of the final sentence of Regulation 13;
(n)Master of Philosophy by Advanced Study (Statutes and Ordinances, p. 506): at the end of the final sentence of Regulation 16;
(o)Master of Research (Statutes and Ordinances, p. 547): at the end of the penultimate sentence of Regulation 11;
(p)Doctor of Science and Doctor of Letters (Statutes and Ordinances, p. 554): at the end of the first sentence of Regulation 8;
(q)Doctor of Veterinary Medicine (Old Regulations) (Statutes and Ordinances, p. 572): at the end of the final sentence of Regulation 12;
(r)Doctor of Veterinary Medicine (Revised Regulations) (Statutes and Ordinances, p. 575): at the end of the final sentence of Regulation 11;
(s)Advanced Diploma in Economics (Statutes and Ordinances, p. 578): at the end of the final sentence of Regulation 9;
(t)Postgraduate Diploma in Legal Studies and Postgraduate Diploma in International Law (Statutes and Ordinances, p. 579): at the end of the second sentence of Regulation 9.
4. By amending the first sentence of Regulation 12 of the regulations for the Certificates of Postgraduate Study (Statutes and Ordinances, p. 581) to read as follows:
The awards of Certificates shall be published by the Board of Graduate Studies unless the candidate has requested the removal of her or his name from the published list in accordance with a procedure approved from time to time by the General Board, but no publication shall be made of an award to a Graduate Student who has been given leave by the Board of Graduate Studies to count the period or any part of it during which he or she has been a candidate for the Certificate towards a course of research for the degree of Ph.D., Eng.D., M.Sc., or M.Litt.