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R6.43 - THE KILMANY SCHOLARSHIP

Recitals-

1. William Roy Pearson Esquire late of Commotion Kilsyth Victoria by his will bequeathed to his trustees the sum of £5,000 upon trust for the foundation of a scholarship at the University in or in connection with the study of Political Economy to be called the "Kilmany Scholarship"..
   
2. The University received the sum of £5,000 in satisfaction of the bequest, on 10 July 1926 which sum increased to $32,833 at 31 December 1998.
   
3. At 9 November 2004 the capital of the Kilmany Scholarship was $80,984.58 and the accumulated income was $7,526.27.

It is provided as follows-

1. The sum of $32,833 and any accumulations and additions to the sum forms a fund called the ‘Kilmany Scholarship’ (‘the fund’) and the fund must be paid into an investment pool and remain there until Council directs otherwise.
   
2. The value of the scholarship is to be the net annual income of the fund.
   
3. The scholarship is open to competition amongst persons who have been admitted to, or selected for admission to, PhD candidature in the department of Economics to undertake research in the area of Economics or Econometrics.
   
4. The scholarship is to be awarded annually by Council on the recommendation of the dean of the faculty of Economics and Commerce who, before making any recommendation concerning the scholarship, must consult the head of the department of Economics.
   
5. The scholarship is to be awarded for a term of one year and may be awarded for a further term of one year.

[Reg. Substituted 5/7/99, Title am., Recital C made, ss. 1 and 3 am., ss. 2, 4 and 5 subst., 7/3/05.]