1. The University shall maintain those lectureships, scholarships, prizes, and other emoluments for which provision is made by any trust for the time being binding on the University, in addition to those mentioned by name in this Statute.
2. When in any regulations governing a trust, which is more than sixty years old at the date of the making of this Statute,2 it is directed that any act shall or may be done by the Senate, the direction is hereby altered so that the act shall or may be done by the University (that is to say, by Grace of the Regent House).
3. When in any regulations governing a trust, which is less than sixty years old at the date of the making of this Statute,2 it is directed that any act shall or may be done by the Senate, the direction is hereby altered so that the act shall or may be done by the University (that is to say, by Grace of the Regent House): provided that if the founder of the trust is alive at the date of the making of this Statute such alteration shall not take effect during the founder's life unless his or her approval is obtained, and that if the trust has a trustee or governing body other than the University such alteration shall take effect only if the consent of such trustee or governing body is obtained.
4. When in any regulations governing a trust it is directed that any act shall or may be done by the General Board of Studies or a Special Board of Studies or a Board of Studies, the direction is hereby altered so that the said act shall or may be done by the General Board of the Faculties or the appropriate Board representing for the time being the branch of studies concerned.
5. The regulations concerning any endowment mentioned by name in Chapters II to XXXII (inclusive) of this Statute, which are contained in any instrument of foundation, Act of Parliament, Order in Council, decree, order, statute or other instrument operative before the commencement of this Statute, are rescinded, save in so far as any of the said regulations may be embodied in this Statute.
6. The name of the founder (or of the person commemorated by the fund) shall be attached to any emolument charged upon any of the said endowments and shall appear in any announcement of the award.
7. The following provisions of this section shall govern existing and future trust funds save in so far as it may be provided otherwise in any instrument of foundation or Statute for the time being governing a particular trust fund.
8. Notwithstanding the provisions of any instrument of foundation governing a particular trust, the University shall have the power to make Ordinances so as to apply part of the income of the fund for the purpose of increasing the value of an emolument or the remuneration of the awarders, or maintaining additional emoluments of the same character, or for another purpose or other purposes: provided that such application is consonant with the original purpose of the endowment and that no such application shall be made during the life of the founder of the trust without his or her consent, and that if the trust is less than sixty years old, and has a trustee or governing body other than the University, no such application shall be made without the consent of such trustee or governing body.