The mastership in sacred theology is conferred on those brothers who are considered eminent in promoting sciences, especially the Sacred Sciences. Excellence of this kind is established by an ability to develop and sustain doctrinal reflection and research, as well as by the publication of works of exceptional value; it is also established by an authority in the scientific field already acquired, even outside the Order.

1. In every province there shall be a regent of studies who, under the authority of the prior provincial and with the advice of the commission for the intellectual life of the province, according to the statute of the province, shall:
     1. promote and coordinate, as head of the province’s commission for the intellectual life, the entire intellectual life of the province;
     2. take care especially of the province’s centre of institutional studies, and see to it that the Ratio Studiorum of the province and other legislation of the Order is observed;
     3. collaborate in implementing the programme for ongoing formation drawn up by the commission for the intellectual life of the province;
     4. collaborate with the conventual lectors in the promotion of study in the province’s convents;
     5. assist other centres of studies in the province, according to their proper statutes, and foster collaboration among them and with the centre of institutional studies of the province;
     6. help the prior provincial in solving doctrinal questions;
     7. see to the planning of the province’s intellectual life and the preparation of specialists required by the province and the Order’s centres of study;
     8. present an annual report to the Master of the Order.
2. The following requirements are needed for nomination as regent:
     1. an academic title such as is required of professors in centres of higher studies;
     2. some experience of teaching, especially in theology or philosophy;
     3. being known for his dedication to study and doctrine.
3. The regent is proposed by the provincial chapter and appointed by the Master of the Order for a four year term until the following chapter. He may be proposed for a second term immediately, but not for a third. As regent he:
     1. is a member ex officio of the provincial council;
     2. is ex officio head of the commission on the intellectual life;
     3. is allocated a financial subsidy in the budget of the province;
     4. cannot be nominated to any office that would interfere with the discharge of his duties.

1. Projects which require major financing should not have to depend on financing from ordinary taxation but must be provided for in an extraordinary budget. The resources needed to carry out such undertakings must be arranged for in the kind of planning described in n. 585 and following.
2. With regard to the expenses of a general chapter, the following must be kept in mind:
   1. travelling expenses are to be met by what is known as the ‘paraequatio’ method, whereby each person pays an equal share of the expenses
   2. lodgings and general expenses for a chapter must be shared proportionately by the general curia and by each province, in such a way that equity and proportion are observed, the details to be determined by the chapter itself;
   3. six months before the convocation of a general chapter, the syndic of the Order and the syndic of the convent where the chapter is to be held must prepare a budget of the chapter expenses to be submitted to the Master of the Order with his council. Afterwards, this must be sent to each province for consultation.

Priors Provincial, Vice Provincials, Vicars General and heads of institutions under the immediate jurisdiction of the Master of the Order, assisted by their Syndics, are responsible for sending to the Master of the Order by 31 August each year the following two documents:

1. The Annual Economic Report. This is a comprehensive presentation of the economic situation of the entity. It shall include details of income, expenses, assets, liabilities, and annual budgets as well as major projects undertaken or planned. If, however, it has several vicariates, convents, houses or institutes, the same is to be done for each. The format of this report may vary according to local custom but must include all of the information requested above. A sample format shall be available from the Syndic of the Order.
2. The Contributions (tax-deduction) Questionnaire. This is used to calculate the annual contributions from the entities of the Order. On the basis of this questionnaire entities claim their allowable deductions for formation expenses and donations to other entities of the Order. The questionnaire shall be sent out each year by the Syndic of the Order and its format shall be the same for every entity.

1. Each year, the respective bursars of a province, and a vice-province and a general vicariate must present to their councils accurate and complete accounts of the revenues and expenses, debits and credits of their respective entities, the transactions they have made, and the economic condition of their respective entities; they must also propose budgets or estimates for the following year. Each of these accounts must be approved by the respective council. Furthermore, a bursar must submit his economic report to the superior of the entity each month.
2. Similarly, all regional priors and vicar provincials must send to their prior provincials an accurate report of their economic status, in the manner outlined in paragraph § I. These reports must be approved by their respective councils.

1. Each month, the convent syndic must give an account to the council of all revenues and expenses, debits and credits.
2. Each year, the superior of a house, the conventual prior, and the vicar provincial, and the regional prior must send to the prior provincial an accurate and complete account, prepared by the syndic. It must include a budget for the following year, prepared after consultation with the conventual chapter–if the provincial chapter shall have so determined–and approved by the council of the convent or the vicariate. Copies must be kept in the files of the respective syndic.

1. Entities of the Order are to define in their chapter legislation and/or statutes the proper procedures for financial operations (administration, safe keeping of valuables and negotiables, investments and banking) in a manner suitable to their local conditions (K, n. 384).
2. In each province ethical norms shall be established for the assessment and investment of monies. The prior provincial together with his council should see to this task, having consulted the economic council and promoter or provincial commission for Justice and Peace. Taking these norms into account, the provinces and houses should consider in which banks it is right to deposit their funds (cf. § III) and in which companies it is right to invest.
3. Only in banks of assured security may money be deposited and, in accordance with n. 555, it must be deposited in the name of the respective moral person or institute to which it belongs.
4. The bank must be chosen by the administrator him self with the consent of the superior.

1. The consultation of the voters shall be done by means of a letter which each of them shall send to the prior provincial, containing three names in order of preference.
2. The prior provincial shall appoint as vicar provincial one of the three who received the greater number of votes, unless he judges it to be more conducive to the Order’s good to appoint another brother.