R7.41 - J. N. Peters Bequest

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Recitals-

1. John Nicholas Peters, of St. Kilda, in the State of Victoria, ("the testator") who died on 1 September 1946 bequeathed to the University his residuary estate "to be applied or used by the University as the Council of the University thinks desirable from time to time for the endowment of a research Lectureship or Associate Professorship" in the field of "the laws of heredity in man" and "the influence of heredity and environment on human characteristics".
2. The testator further provided that "should there at any time be any funds left over after making provision as aforesaid I would wish the same to be applied towards the cost of any research work in Anthropology or courses of lectures in Anthropology as the said Council may determine."
3. The University received the equivalent of the sum of $27,624 in satisfaction of the bequest in 1949, and the capital of the fund at 31 December 1994 was $435,989.

It is provided as follows-

1. The sum of $435,989 and any accumulations and additions to the sum forms a fund called the "J. N. Peters 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 endow a research lectureship or readership in Genetics or Human Biology or otherwise in promoting the study of those subjects, with special reference to the influence of heredity and environment on human characteristics PROVIDED THAT, if at any time any funds are unexpended, after making such provision they must be applied towards the cost of research work or of a course of lectures in Anthropology.
3. The fund is administered by the Council on the recommendation of a committee it establishes from time to time.