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Pundat the Third was a corrupt Lord President of the High Council of Time Lords. His grandfather had also been Lord President, and had rewritten the constitution of the Time Lords to enable the President to appoint his successor. Pundat's grandfather had hoped to create a dynasty.
Near the end of Pundat the Third's reign, prior to the Doctor's departure from Gallifrey, a group of students attempted to overthrow him and his High Council, but their revolt was ruthlessly suppressed. Survivors of the purge attempted to recruit the Doctor to their cause, but he declined when he learned that they planned to assassinate Pundat.