R7.26 - Niel Walter Black Fund

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Recitals-

1. The late Niel Walter Black bequeathed £2,000 to the University "to be applied for such purposes and in such way and manner as the Science Faculty shall in its absolute discretion from time to time direct".
2. The University has received £2,000 in satisfaction of the bequest, which sum increased to $5,908 at 31 December 1994.

It is provided as follows-

1. The sum of $5,908 and any accumulations and additions to the sum forms the endowment of a fund called the "Niel Walter Black Fund" (“the fund”) and the fund must be paid into an investment pool and remain there until the Council directs otherwise.
2. The income of the fund is applied to the purchase of special books or apparatus required for research.
3. At half-yearly intervals the whole of the income of the fund for the previous half-year must be allotted to one of the following departments successively in the order set out-
   
   1. Zoology;
   2. Physics;
   3. Botany;
   4. Geology;
   5. Physiology;
   6. Chemistry.
4. The Council may at any time direct that the whole of the capital of the fund or any part thereof be resorted to for the purpose or purposes stated above.