The Institutional Policy Committee met Sunday from 10 a.m. to 4:30 p.m. and discussed both investment policy and educational activities concerning South Africa with President Bok and other University officials. The discussions were useful in improving understanding as to both the substance of the issues and the process to be followed in dealing with them.
The members of the Committee expressed support for the educational activities of the University. With regard to investment policy, members recognized the complexity of the issues and expressed a diversity of views. The Committee spent considerable time discussing how the Board of Overseers could meet its responsibilities for expressing its views to the Corporation on this important subject and how the Board of Overseers and the Corporation could best explore the issues in a thoughtful and cooperative way.
The Committee decided to recommend to the Board of Overseers:
. That all members of the Board of Overseers have an opportunity to express their individual views with respect to investment policy, including divestment, at an early meeting of the Board, preferably the April 10 meeting. Members of the Corporation will be invited to hear this expression of views, in addition to the President and Treasurer, who attend meetings as members of the Board of overseers. It is recommended that the Board not try to formulate a position at that meeting;
. That a joint committee of members of the Board of Overseers and the Corporation be established following the Board discussion in order to examine investment policy in light of the views expressed by Board members and other interested members of the community. It is expected that this joint committee will work expeditiously and will report its progress to the two Governing Boards.
This recommendation of the Committee will have to be discussed with and considered by the full Board of Overseers and the Corporation.
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