Regulation7.4- Nervous System Research Fund

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Recitals-

1. Alexander Morrison, late of East Melbourne, physician and surgeon by his will made the following bequest

"All the remainder of my property to the University of Melbourne upon trust to be invested at interest and to add the interest to the principal and re-invest the same upon security authorized for the investment of trust funds until such time (not being greater than the law allows for accumulation) as the governing body of the said Melbourne University shall deem advisable and to apply the same to the advancement of the knowledge of the structure functions and diseases of the nervous system of man and animals under the following conditions-

First by annually or at longer intervals recompensing original investigators or awarding a prize or prizes to competitors as an encouragement towards original investigation or by both of such methods.

Second that no award or recompense shall be made in any year unless the work done shall have in the opinion of the Examiners or the Committee appointed under this bequest resulted in a substantial addition to the knowledge of the time by original research attained by correct methods.

Third that there shall be no restriction as to nationality or residence of any competitor or candidate.

Fourth that if the fund now founded shall by addition thereto or in any other way be in excess of the amount required to reward the said investigators then I empower the said University of Melbourne to extend the scope of the said foundation in promoting by investigation the advancement of knowledge in vegetable physiology.

Fifth that the Government of the State of Victoria may appoint one of the medical officers of the Lunacy Department of the Government service The Royal Society of Victoria or its successors may appoint an officer of the said Society or its successors and the University of Melbourne shall appoint three persons all of whom shall form a committee to direct and control the operation and application of this fund and all such appointments may be limited revoked and others appointed as aforesaid from time to time as occasion may require.

Sixth the said University of Melbourne may designate this foundation by any name but a personal one."

2. The University received the sum of £473 1s. 4d in satisfaction of the bequest, which sum increased to $31,893 at 31 December 1994.

It is provided as follows-

1. The sum of $31,893 and any accumulations and additions to the sum forms a fund called the "Nervous System Research Fund" and the fund must be paid into an investment pool and must remain there until the Council directs otherwise.
2. Expenditure from the fund is authorised by the Council on the recommendation of the faculty of Medicine, Dentistry and Health Sciences.