This memorandum will create and set out preliminary rules for the fundraising, management, and expenditure of the fund to support research in rare neurological diseases.
Art. 1
The Trustees agree that fundraising may be necessary to boost, facilitate and support young researchers, especially those coming from disadvantaged backgrounds.
Art. 2
To that end, the Trustees agree to create a fund to support this particular Initiative, in accordance with the Act of Foundation of the Society.
Art. 3
The Trustees recommend the proposing Fellow, Dr Max Brzezicki, to manage the fund for the first 12 months of its inception. To that end, Dr Brzezicki will be obliged to:
- Propose effective methods of raising funds from the general public;
- Make use of third parties who may be professionally involved in fundraising;
- Provide record of all activities and funds raised during this period;
- Stand available for all audits, monitoring and queries raised by Members and Fellows not least limited to but ultimately responsible before the Council of Praetors;
Art. 4
Since the success of this venture is not assured, the Trustees will exercise leeway in the initial set up and organisation of the fund. This will by no means allow any funds to be spent, repurposed, transferred or otherwise misplaced from the fund.
Art. 5
No funds shall be spent without direct and written consent of the Trustees. Such consent will only be issued once another memorandum is established, in which the terms and conditions of grant-making and appropriate fair policies of monitoring and approval are constituted.
Art. 6
Dr Brzezicki will inform the Trustees without delay but at latest after the 12th month since the date of this memorandum if the fund has exceeded the value of £100.
Art. 7
In case of Art. 6 being triggered, the Trustees will form another memorandum to constitute laws that will lay grounds for Art. 5 to be subsequently invalidated. The Trustees will make sure that any laws in the subsequent memorandum will be concordant with the regulations prescribed in relevant legislation of England and Wales and rules of professional conduct. The Trustees agree that the subsequent memorandum will be in line with the purpose of the fund outlined in this document. Details, definitions, policies, procedures and monitoring standards will be agreed in subsequent memoranda.
Art. 8
Dr Brzezicki proposes that the third-party contract shall be constituted, as submitted in the Appendix 1. The ratification of this memorandum grants him permission to enter and sign this agreement with the third party in question. Further agreements will require subsequent memoranda from the trustees.
Art. 9
The fund shall cease its existence after 12th month since the date of this memorandum unless subsequent laws are constituted in line with art. 7. All funds remaining on the balance on that date shall be credited against the Society’s account and declared to the relevant financial and regulatory bodies. This will include but will not be limited to any tax liabilities.
Art. 10
The memorandum is enacted by agreement of all parties automatically unless complaints are registered within 7 days of the date of this memorandum. Further complaints may be filed after this deadline but will not invalidate the memorandum. In both cases, disputes will be adjudicated by the Council of Praetors in line with the Act of Foundation.
Laid before the Trustees – Oxford 2021
Updated Michaelmas 2022
Pursuant to art. 6, President of the Society would like to inform the House that the fund has now exceeded £100. A call will be made for further discussions across the House and the Members. This is likely to take place after Christmas.