R7.14 - Supreme Court Library Fund

View/Print PDF (9 KB)

Recitals-

1. In 1930 the Judges of the Supreme Court, at the request of the Supreme Court Library Fund, donated out of the Supreme Court Library Fund £30,000 for the endowment of a second professorship in the faculty of Law in the University. The professorship was originally styled The Professor of Public Law, but has since been restyled the Harrison Moore Professor Law.
2. The sum of £30,000 increased to $217,345 at 31 December 1997.
3. In 1940 the Judges, following a similar request, donated out of the same fund a further £25,000 for the purpose of providing out of its income the means of increasing the teaching resources of the faculty of Law.
4. The sum of £25,000 increased to $155,149 at 31 December 1994.

It is provided as follows-

1. The sum of $217,345 and any accumulations and additions to the sum forms the endowment of a fund called the "Harrison Moore Chair Fund" (“the Chair fund”) and the fund must be paid into an investment pool and remain there until the Council directs otherwise.
2. The income from the investment of the Chair fund is applied in the first instance to the payment of the stipend of the Harrison Moore Professor of Law including provision for his or her retirement and the balance is applied as the Council may direct to the expenses of the chair.
3. The provisions of Statute 7.1 apply to the professorship.
4. The sum of $155,149 and any accumulations and additions to the sum forms the endowment of a fund called "The Supreme Court Library Fund for Teaching Resources" ("the Teaching Resources Fund") and the fund must be paid into an investment pool and remain there until the Council directs otherwise.
5. The income from the investment of the teaching resources fund is used to provide the salaries of teachers in the faculty of Law or otherwise to increase the teaching resources of the faculty but must not be applied to relieve the University of expenditure in the faculty of Law to which it was committed at the time of receiving the second sum.
6. Concerning either of the sums, surplus income in any year may be carried forward to a future year or invested by way of addition to the fund as the Council directs.