The Gold Medal for Poetry was instituted by King George V in 1933 at the suggestion of the Poet Laureate, Dr John Masefield. Recommendations for the award of the Medal are made by a committee of eminent men and women of letters, under the chairmanship of the Poet Laureate. The announcement of the award is made on Shakespeare's birthday. The Medal is given for a book of verse published by someone from the United Kingdom or the Commonwealth. Originally the award was open only to British people, but in 1985 the scope was extended to include people from the Commonwealth.
(Source: http://www.royal.gov.uk/output/Page1118.asp (Sighted 7/5/02)