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R6.148 - THE PERCIVAL SERLE BEQUEST

Recitals-

1. Percival Serle late of 70 Church Street Hawthorn who died on the 16th December 1951 bequeathed one-tenth of the residue of his estate "to the Council of the University of Melbourne for the benefit of the English School in the Arts course as the Council may decide from time to time."
   
2. The University received the sum of $8,000 in satisfaction of the bequest, which sum increased to $11,000 at 31 December 1994.
   
3. At 3 August 2004 the capital of the Percival Serle Bequest fund was $24,335.87 and the income was $2,182.83.

It is provided as follows-

1. The sum of $11,000 and any accumulation and additions to the sum forms a fund called the "Percival Serle Bequest" ("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 used to provide the prizes in accordance with section 3 and for the purposes specified in section 4.
   
3. There are four prizes called "Percival Serle Prizes", each having an equal value, but the value of each must not exceed one quarter of the net annual income of the fund. The prizes are open to competition annually among students enrolled for the degree of bachelor of Arts in the following subjects-
   
   1. one prize to be awarded at the assessment in the second year English course;
      
   2. one prize to be awarded at the assessment in the final Honours English course;
      
   3. one prize to be awarded at the final honours assessment in the course for the degree of bachelor of Arts to a candidate taking a combined course in any schools other than English and History; and
      
   4. one prize to be awarded for a thesis of special distinction submitted for the degree of master of Arts through the department of English.
      
      

[s. 3 substituted 4/9/00, Title am., Recital C made, ss. 4 and 5 revoked, 4/10/04 .]