Five of the scholars sojourning in the Hall aforesaid shall be appointed by the Master thereof, who shall have the charge of all the books, of which five persons three and not fewer may lend any book or books for inspection and study; but for copying or transcribing we direct that no book shall be allowed outside the walls of the house. Therefore, when any scholar secular or religious, whom for this purpose we regard with equal favour, shall seek to borrow any book, let the keepers diligently consider if they have a duplicate of the said book, and if so, let them lend him the book, taking such pledge as in their judgment exceeds the value of the book delivered, and let a record be made forthwith of the pledge and of the book lent, containing the names of the persons delivering the book and of the person who receives it, together with the day and year when the loan is made. But if the keepers find that the book asked for is not in duplicate, they shall not lend such book to any one whomsoever, unless he shall belong to the community of scholars of the said Hall, unless perhaps for inspection within the walls of the aforesaid house or Hall, but not to be carried beyond it. But to any of the scholars of the said Hall, any book may be lent by three of the aforesaid keepers, after first recording, however, his name, with the day on which he receives the book. Nevertheless, the borrower may not lend the book entrusted to him to another, except with the permission of three of the aforesaid keepers, and then the name of the first borrower being erased, the name of the second with the time of delivery is to be recorded. Each keeper shall take an oath to observe all these regulations when they enter upon the charge of the books. And the recipients of any book or books shall thereupon swear that they will not use the book or books for any other purpose but that of inspection or study, and that they will not take or permit to be taken it or them beyond the town and suburbs of Oxford. Moreover, every year the aforesaid keepers shall render an account to the Master of the House and two of his scholars whom he shall associate with himself, or if he shall not be at leisure, he shall appoint three inspectors, other than the keepers, who shall peruse the catalogue of books, and see that they have them all, either in the volumes themselves or at least as represented by deposits. And the more fitting season for rendering this account we believe to be from the First of July until the festival of the Translation of the Glorious Martyr S. Thomas next following.