Lugg Fund [F20086]

Lugg Nominees Pty Ltd having donated to the University property/assets to commemorate the association of Emeritus Professor J. W. H. Lugg, the University's Foundation Professor of Biochemistry, and members of the Lugg family with the University and for the promotion and development of Biochemistry, particularly but not exclusively in respect of individual student benefit, a fund to be known as the Lugg Fund is established for that purpose. The fund is administered in accordance with the following regulations.

1.(1) The income from the fund after capitalisation, in accordance with Senate policy, is used to provide—

(a) the Lugg Medal to be awarded each year to the student completing the course for the degree of Bachelor of Science with Honours in Biochemistry who, in the opinion of the Board of Examiners in Life and Physical Sciences, is the best student in that course provided that the student's performance ranks within the best 20 per cent of students for that year and the preceding six years;

(b) the Lugg Prize in Biochemistry to be awarded each year to the student completing the course for the degree of Bachelor of Science with Honours in Biochemistry who, in the opinion of the Board of Examiners in Life and Physical Sciences, is the best student in that course;

(c) short-term student vacation scholarships in Biochemistry which will constitute 50 per cent of the nett disposable income from the Lugg Fund for that year;

(d) awards for postgraduate students in biochemistry to travel interstate or overseas to further their knowledge of biochemistry; and

(e) for any other purpose consistent with the purpose of the fund.

(2) When the recipient qualifies for both the Lugg Prize and the Lugg Medal, the prize will constitute 50 per cent of the nett disposable income from the Lugg Fund for that year.

(3) In the event that the recipient qualifies for the Lugg Prize but not the Lugg Medal, the value of the prize will constitute 25 per cent of the nett disposable income from the Lugg Fund.

(4) In the event that two students are of equal merit in the opinion of the Board of Examiners in Life and Physical Sciences, the Lugg Prize and, if applicable, the Lugg Medal are awarded jointly for that year.

2. The fund is administered by the Vice-Chancellor, having regard to the recommendations of the Head of the School of Biomedical and Chemical Sciences following consultation with the academic staff in biochemistry.

3. The tenure, emoluments and all other terms and conditions of scholarships, and the amount of and the conditions attached to travel awards, grants of financial assistance to distinguished visiting scholars and of all other allocations from the fund are determined by the Vice-Chancellor, having regard to the recommendations of the Head of the School of Biomedical and Chemical Sciences.

4. Unexpended income in any year is either carried forward and becomes part of the income available for expenditure in the following year or capitalised at the discretion of the Vice-Chancellor, having regard to the recommendation of the Head of the School of Biomedical and Chemical Sciences.