Chapter I

THE OBLIGATIONS OF COLLEGES IN RESPECT OF FELLOWSHIPS

1. Every College shall maintain the number of Fellowships without dividend allotted to it in Schedule C for such Professors or other University officers as are specified in Schedule B. The Fellowships required to be maintained as aforesaid are hereinafter termed Professorial Fellowships, and the number of such Fellowships allotted to a College is hereinafter termed the quota. A person holding or appointed or elected to hold an office placed in Schedule B shall not be elected at a College to any Fellowship other than a Professorial Fellowship. An officer specified in Schedule B who is the Head of a College shall be deemed to be the holder of a Professorial Fellowship in that College.

2. The Council shall in the year 1966 and in every tenth year thereafter consider Schedule C and may in that year, or, if they think fit, in any intermediary year propose a revision thereof. The Council shall publish any proposed revision to the University and, save as hereinafter provided, the proposed revision shall become effective when thirty days of full term have elapsed after its publication. At any time within that period any College affected by the proposed revision may make representations to the Chancellor. Thereafter the Chancellor shall have power to make the proposed revision or any modification thereof approved by the Council or to make no revision.

3. The University may make alterations in Schedule B from time to time by Grace.

4. A College shall not have power to elect to a Professorial Fellowship a person holding, or appointed or elected to hold an office placed in Schedule B, unless at the time of the election to such a Fellowship

1. either(i)it has among its Fellows a number competent to hold Professorial Fellowships less than its quota of such Fellowships;
2. or(ii)at each College among its Fellows the number competent to hold Professorial Fellowships is not less than its quota of such Fellowships;
3. or(iii)he or she has held the office for two years and throughout that time it has been placed in Schedule B:

provided that

1. (a)this section shall not debar a College or other competent authority from appointing to the Headship of the College a person holding or appointed or elected to hold an office placed in Schedule B, nor shall it debar a College from electing to a Professorial Fellowship a person holding such an office who at the time of his or her appointment or election to the office (even if the office was not then placed in Schedule B) was or had previously been a Fellow of the College;
2. (b)this section shall not debar a College from electing to a Professorial Fellowship a person holding, or appointed to hold, the office of Vice-Chancellor;
3. (c)this section shall not debar the Dixie Professor of Ecclesiastical History from becoming a Professorial Fellow of Emmanuel College, or the Regius Professor of Greek from becoming a Professorial Fellow of Trinity College, or the Downing Professor of the Laws of England from becoming a Professorial Fellow of Downing College, or the Churchill Professor of Mathematics for Operational Research from becoming a Professorial Fellow of Churchill College;
4. (d)this section shall not debar a College from electing to a Professorial Fellowship, with effect from a date not later than a date in the academical year next but one following, a person holding, or appointed or elected to hold an office placed in Schedule B, if it appears to the University Registrary that on the day from which such election is to take effect the College would, unless the election were made, have among its Fellows a number of such persons less than its quota of Professorial Fellowships;
5. (e)for the purposes of the conditions numbered (i) and (ii) in this section a person elected to a Professorial Fellowship with effect from a future date shall from the day on which such election is made be reckoned as if he or she were already a Fellow competent to hold a Professorial Fellowship;
6. (f)in the application of this section to a College of which only men may be Fellows, Colleges of which only women may be Fellows shall be disregarded and vice versa;
7. (g)in the application of this section to Colleges of which both men and women may be Fellows, Colleges of which only men may be Fellows shall be disregarded if the person to be elected is a woman and vice versa;
8. (h)during the year in which a quota is first allotted to a College and during the five years next following that year, the College shall be deemed to have satisfied the condition numbered (ii) in this section when it has among its Fellows a number competent to hold Professorial Fellowships which is less by one than its quota of such Fellowships;
9. (i)if among the Fellows of any College the total number1 of persons competent to hold Professorial Fellowships has for a continuous period of nine months been less than the quota of such Fellowships for that College, and if the College certifies to the Registrary that during such period it has been unable to elect to Professorial Fellowships a sufficient number of persons to satisfy the condition numbered (ii) in this section, the College may, if it so consents, be deemed for a period not exceeding one year (calculated from the date on which the College's certificate is received by the Registrary) to have satisfied that condition.

5. If among the Fellows of any College the actual number1 of persons competent to hold Professorial Fellowships is less than the quota of such Fellowships for that College, and if there are in the University five or more persons competent to hold Professorial Fellowships but not holding Fellowships at any College, that College shall take steps to ensure that the vacancy is filled not later than one year after its occurrence, provided that

1. (a)in the application of this section to a College of which only men may be Fellows, five or more persons shall mean five or more men, and in the application of this section to a College of which only women may be Fellows, five or more persons shall mean five or more women;
2. (b)if a College shall have offered a Professorial Fellowship to a competent person, and if that person shall have declined the offer, the College shall be entitled to reckon him or her, for the purposes of its obligations under this chapter, as not competent to hold a Professorial Fellowship.

6. A Fellowship with dividend shall not be tenable by an officer specified in Schedule B, provided that this section shall not debar such an officer from receiving from a College as dividend the whole or part of the remuneration due to him or her as Head of the College.

7. Any dispute between the University and a College regarding the obligations of the College under this chapter shall be referred to the Council, from which an appeal shall lie to the Chancellor.

8. If the office of Chancellor is vacant the functions assigned to the Chancellor by this chapter shall be exercised by the High Steward.

9. In the application of this Statute to a College which is able under its Statutes to elect men or women to Fellowships but which, if previously a College of which only men might be Fellows has never elected a woman (other than a bursar) to a Fellowship, or if previously a College of which only women might be Fellows has never elected a man (other than a bursar) to a Fellowship, that College shall be deemed to be a College of which only men may be Fellows or of which only women may be Fellows as the case may be; provided that in either case for the purpose of the first election of a Professorial Fellow of the opposite sex section 4 of this Statute shall apply as if the College were one of which both men and women may be Fellows.

10. A Professorship placed in Schedule B may be specified by Grace as a Professorship which, for the purpose of this Statute, shall also be placed in Schedule H. A Professorship placed in Schedule H shall be governed by the following special provisions notwithstanding anything contained in sections 4 and 5 of this Statute:

1. (a)a College may elect a person or persons holding a Professorship so specified to a Professorial Fellowship although the College has at the time a number of Professorial Fellows not less than its quota of Professorial Fellowships;
2. (b)a College which shall elect a person or persons holding a Professorship so specified to a Professorial Fellowship may include that Fellowship, or those Fellowships, among its Professorial Fellowships for the purpose of satisfying its obligations under section 1 of this Statute;
3. (c)a College which has elected a person or persons holding a Professorship so specified to a Professorial Fellowship may exclude that Fellowship, or those Fellowships, from its Professorial Fellowships for the purpose of determining whether the College is entitled to make a further election.

11. (Repealed by Grace 6 of 13 December 2000 and by Order in Council dated 18 July 2001.)

COLLEGE CONTRIBUTIONS AND THE COLLEGES FUND

1. Every College in the University shall make a yearly contribution, which shall be applied to the purposes hereinafter prescribed.

2. The following items shall constitute the assets of a College:

1. (a)all property, real and personal of whatsoever nature, held by the College, or held in trust for the College;
2. (b)all property held by the College or by or with any other trustee or trustees on trusts any of the purposes of which concerns the College;
3. (c)all property held by a subsidiary of the College;
4. (d)any business of the College, as defined in section 4; and
5. (e)(considered as assets of negative value) all liabilities of the College or of a subsidiary of the College.

But the assets and liabilities relating to any occupational pension scheme registered for income tax purposes shall not be included in the assets of the College.

3. (a) The following assets of a College shall constitute its operational assets:

1.  (i)all interests in land within the precincts of the University held mainly for Collegiate purposes by the College;
2.  (ii)all tangible personal property held mainly for Collegiate purposes within that land; and
3.  (iii)any asset approved as an operational asset by the Finance Committee, having regard to the use of the asset for Collegiate purposes.
4. (b)With the approval of the Finance Committee,
5.  (i)a vacancy or temporary use of an asset shall be disregarded; and
6.  (ii)a College may declare an asset to be non-operational.
7. (c)For the purpose of this section,
8.  (i)a purpose is to be treated as beneficial notwithstanding that the beneficiary may make payment or give any other consideration for the benefit received;
9.  (ii)any matter ancillary to a Collegiate purpose shall be treated as included within that purpose; and
10.  (iii)where different parts of an asset are held for different purposes, those parts shall be treated as separate assets;
11.  (iv)subject to the approval of the Finance Committee, a right held by a College to repayment of a loan made by it in connection with an interest in land may be treated as an interest in land within the scope of subsection (a)(i); and
12.  (v)for the purpose of subsection (a)(ii), the term ‘Collegiate purposes’ shall include purposes associated with a business of the College.

4. A business of a College shall mean any activity that involves the use of the operational assets of the College conducted or permitted by the College or by a subsidiary of the College with a view to deriving income other than from the College or its members, whether or not that activity falls within the charitable purposes of the College.

5. The assessable assets of a College shall comprise all of its assets except (i) its operational assets, and (ii) assets held by the College or by or with any other trustee or trustees on trusts approved by the Finance Committee as being exclusively for non-Collegiate purposes.

6. The assessable amount of a College, in respect of any year, shall be the value of its assessable assets on the valuation date. The valuation date shall be the last day of the accounting period for the preceding year. A change in the accounting period for a College shall require the approval of the Finance Committee.

7. In the case of a trust partly for Collegiate and partly for non-Collegiate purposes, the value of the assets of the trust in respect of any year shall be taken to be the value at the valuation date of the whole assets of the trust multiplied by the Collegiate distribution for the accounting period for that year divided by the income for that accounting period. For the purpose of this section, in relation to a trust,

1. (a)the Collegiate distribution for an accounting period means the amount applied from the trust during that period for Collegiate purposes or transferred from the trust to the College during that period, not including any amount approved as a capital distribution by the Finance Committee for the purpose of this section; and
2. (b)the income for an accounting period shall not include any additions to the trust during that period, and shall not include any gain of a capital nature during that period except to the extent that the computation of income of the trust is in accordance with a rule approved by the Finance Committee for the purpose of this section.

8. The value of a business of a College in respect of any year shall be derived from a notional operating surplus equal to the turnover of the business during the accounting period for that year multiplied by a defined percentage, which notional operating surplus is then capitalized for a yield of 4% (or such other figure as may be determined by Ordinance). For the purpose of this section,

1. (a)turnover shall mean total revenue after deduction of Value Added Tax (or any similar deduction approved by the Finance Committee) and before any other deduction therefrom, but shall not include any revenue derived from the College or its members;
2. (b)the defined percentage shall be determined according to the nature of the business concerned and shall be such figure as the Finance Committee consider to be an appropriate estimate of the profit normally to be expected from a business of that nature, where profit means the turnover less the costs of the operation of the business, not including any costs relating to the operational assets of the College; and
3. (c)where a business involves the use of both operational assets and other assets of the College, an apportionment shall be made, by a method approved by the Finance Committee, to determine its value in relation to the use of operational assets only.

9. The Finance Committee shall make, and may vary from time to time, rules for the purposes of this chapter. Without prejudice to the generality of the foregoing, such rules may include provision for

1. (a)the valuation of assessable assets that are in use in part only as operational assets;
2. (b)the valuation of assets that are owned jointly by the College and some other person or persons;
3. (c)the submission of information and evidence by Colleges in connection with any matters concerning this chapter;
4. (d)the disregard of businesses of a specified nature and the reduction (whether for business of a specified nature, or in relation to income, or otherwise) of the profit percentage defined under section 8;
5. (e)the set off of assets and liabilities between the College and a subsidiary of the College;
6. (f)the variation of the valuation date for certain classes of assets; and
7. (g)the certification of the value of assessable assets.

Such rules shall include provision for the disregard of a business established as a school for the supply of Choristers to the College.

10. The Finance Committee may obtain professional advice in connection with any matter concerning this chapter. The cost of such advice shall be paid from the Colleges Fund.

11. The Finance Committee may give written notice to a College of its intention to review the contribution payable by the College in respect of any year. Such notice shall specify the year in respect of which it is given, and shall be given not later than the end of the accounting year sixth after the accounting year for the year in respect of which it is given. But later notice may be given where the intention of the Finance Committee is based on facts of which it was previously unaware and could not reasonably have been aware. Any such later notice shall specify the facts on which it is based and shall be given not later than three months after the Finance Committee first became aware of those facts. No notice shall be given later than the end of the accounting year twelfth after the accounting year for the year in respect of which it is given. A notice given under this section may require the submission of such information and evidence as is specified in the notice in connection with any matter concerning this chapter. A notice shall state a time by which any information and evidence specified in it, and any representations in relation to it, shall be received from the College.

12. After considering the information, evidence, and representations received from the College within the time stated in the notice (or within any extension of time allowed), the Finance Committee shall conduct its review and shall determine the contribution due from the College in respect of the year concerned. Such determination shall be binding and effectual for the purposes of this chapter, but may be varied by the Finance Committee after further review made on the application of the College. After conducting a review, the Finance Committee may require payment by the College to the Colleges Fund of all or any part of the costs incurred by the University in the review.

13. The Finance Committee may agree with a College the nature, valuation date or value of any of its assets. Such agreement may be unconditional or subject to such conditions as the Finance Committee may determine. Such agreement shall be terminable at will by the Finance Committee, provided that such termination shall not affect the contribution payable by a College in respect of any year the accounting period for which has then passed. An agreement may be made notwithstanding any conflict with rules made by the Finance Committee under this chapter.

14. In making rules under this chapter, and in agreeing with a College under section 13 the nature, valuation date or value of any of its assets, the Finance Committee shall have regard to the desirability of achieving fair, reasonable, and administratively simple outcomes.

15. Any approval by the Finance Committee under this chapter may be given unconditionally or subject to such conditions as the Finance Committee may determine.

16. The contribution of a College shall be calculated in accordance with the provisions of Schedule G.

17. Every College shall pay to the University on or before 31 December following the end of the accounting period for a year one-half of the contribution calculated for that year, and the remaining one-half on or before 30 June next following.

18. The contributions of the Colleges shall be paid into a Colleges Fund. Payments from the Colleges Fund shall be made in accordance with the provisions of this chapter and, in accordance with Ordinances enacted by the University, for grants to the Colleges. Such grants may include investment for the benefit of a College in an amalgamated fund constituted under Statute F, III, 6 subject to such restrictions as may be prescribed by Ordinance.

19. If in the opinion of the Finance Committee inequity or hardship owing to exceptional circumstances would be inflicted upon a College by the enforcement of the provisions of this chapter, the University shall have power to remit or defer payment of the whole or part of the contribution of the College in respect of any year.

20. If there is any dispute between the Finance Committee and a College concerning any matter in relation to this chapter, the question shall be decided by the Council. Any College affected by the decision of the Council may, within six months after notice of the decision, appeal to the Chancellor or, if the office of Chancellor is vacant, the High Steward, who may affirm, reverse, or vary the decision.

21. Where a College becomes aware of any error in the calculation of its contribution, it shall notify the Finance Committee, who shall determine what correction (if any) should be made.

22. Where a correction or other adjustment is made to the assessable amount of a College in respect of any past year, the Finance Committee shall notify all of the Colleges of the changes to be made in relation to that year. Each College shall account for such changes in the accounting period in which notification is given.

23. In the interpretation of this chapter:

1. (a)holding, as regards property, means having (whether alone or with others) a legal or equitable interest in, possession of, or (where appropriate) occupation of the property, and held shall be interpreted accordingly;
2. (b)the assets of a College shall have the meaning given by section 2, and ownership by the College shall be interpreted accordingly;
3. (c)Collegiate purposes shall include
4.  (i)any purpose beneficial to the Head, Fellows, officers or employees of the College (whether currently or formerly) as such,
5.  (ii)any purpose beneficial to resident members of the College as such,
6.  (iii)any purpose directly conducive to operation of the College as a place of education, religion, learning, and research (or of any of those things),
7.  but shall not include
8.  (iv)subject to the approval of the Finance Committee, any provision of benefits which are not granted by the College or by a subsidiary of the College, or
9.  (v)any provision of benefits to persons not within the scope of (i) or (ii) above;
10.  and non-Collegiate purposes shall be construed accordingly;
11. (d)a subsidiary of a College shall include any company, trust or other corporate or unincorporated body which is owned or controlled by or on behalf of the College, and for this purpose ownership shall include entitlement, directly or indirectly, to the benefit of at least one-half of the property of the subsidiary and control shall include entitlement, directly or indirectly, to appoint, control or influence at least one-half of the persons having the general control and management of the administration of the subsidiary, but shall not include any company, trust or other body excluded from this definition with the approval of the Finance Committee;
12. (e)the accounting period for any year shall be the accounting period the last day of which falls in that year; and
13. (f)the Finance Committee shall mean the Finance Committee of the Council.