R6.14 - Macbain Research Scholarship In Biology

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Recitals-

1. A sum of money was subscribed to provide a memorial to the Honourable Sir James MacBain, K.C.M.G., late President of the Legislative Council in the Colony of Victoria.
   
2. It was determined by the subscribers that a memorial tablet be erected in Ormond College and that the remainder of the fund be used for the purpose of founding in the University MacBain research scholarship in Biology having special reference to Australian forms of life.
   
3. The sum of £750 was donated to the Council of the University for the establishment of the scholarship.
   
4. The sum of £750 increased to $7,208 at 31 December 1994.

It is provided as follows-

1. The sum of $7,208 and any accumulations or additions to the sum forms the endowment of scholarships called the "MacBain Research Scholarships in Biology" ("the fund") and the fund must be paid into an investment pool and remain there until the Council directs otherwise.
2. There is a scholarship for research in biology having particular reference to Australian flora or fauna.
3. The scholarship is awarded for one year and there is nothing to preclude it being reawarded provided that if the Scholarship is not awarded in any year it must be made available as a special scholarship in the following year.
4. The scholarship is open to students who are enrolled in the degree of doctor of Philosophy or the degree of master of Science.
5. The scholarship is awarded by the Council on the recommendation of the dean of the faculty of Science and comprises the net annual income of the fund.