To provide financial assistance for special training or educational projects proposed by undergraduate or post-graduate medical or surgical students or by members of the Medical Artists' Association of GB. In making grants particular weight shall be given to the excellence of the applicant, the innovative qualities of the work to be done and the relevance of such work to the ultimate benefit of patient care.
Ronald Raven's Executors will make available to the Barbers' General Charities (Registered Number 265579) the sum of £50,000. The Company will invest this sum and devote the income (approximately £5,000 annually) to the financing of "The Ronald Raven Barbers' Award".
The Worshipful Company of Barbers shall have unrestricted powers of investment with the intention of achieving as generous an income as is compatible with at least maintaining the real value of this bequest.
The amount of the award (which may be given to more than one person in any one year) will depend on the amount of accrued income available from time to time from the capital. The capital itself shall at no time be used to finance the annual awards. Normally the award to an individual will be for one academic year, but in special circumstances it may be given for a maximum of two years, subject to satisfactory reports at the end of the first year.
Nominations for the award shall be sought from the Director of "The Raven Department of Education" of The Royal College of Surgeons of England and the Medical Artists' Association. The selection of the candidate(s) to receive an award shall be carried out by a committee consisting of the Master, the Chairman of the Charity Committee and a Barber-Emeritus and one other (who shall be medically qualified) both selected by the Master. An award shall not be made if the selection committee is of the opinion that there is no candidate of sufficient quality. If no one is selected, then that amount will be carried forward.