【法规名称】
【法规编号】 41993 什么是编号？
【正 文】
第2页 CAP 1037 MORRISON SCHOLARSHIPS FUND ORDINANCE
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[接上页] (b) done in the presence of and signed by the Chairman and one other trustee. (Enacted 1990) Cap 1037 s 6 Application of the Fund (1) The Trustees shall hold the Fund upon trust to apply the available income- (a) for the endowment and maintenance of one or more scholarships, to be known as Morrison Scholarships, for students or graduates of Queen's College, without distinction of class or nationality; and (b) as to not more than 25% towards other educational purposes associated with Queen's College.(2) In this section, "available income" (可动用收益) means the income of the Fund during any financial year available after making any payments required under section 9 or 11 (7) in respect of that financial year. (Enacted 1990) Cap 1037 s 7 Powers of the Trustees Subject to this Ordinance, the Trustees may at their discretion- (a) determine and perform all matters relating to the application of the Fund; (b) grant or renew one or more Morrison Scholarships in each financial year; (c) decide the number of Morrison Scholarships to be granted or renewed, the value of each scholarship, the conditions upon which and the period for which any such scholarship is granted or renewed, and the identity of the recipients of such scholarships; (d) invest the assets of the Fund in such investments as the Trustees think fit, whether or not such investments are in Hong Kong or are authorized by section 4 of the Trustee Ordinance (Cap 29); (e) convert into money any assets of the Fund not acquired in the form of money; (f) borrow money in such manner, on such terms and against such security as the Trustees think expedient; and (g) accumulate income of the Fund not applied under section 6 or paid under section 9 or 11(7). (Enacted 1990) Cap 1037 s 8 Employment of assistants and advisers The Trustees may employ, upon such terms and conditions as the Trustees think fit- (a) one or more persons to assist them or any of them in the performance of their functions; (b) any professional person or financial institution to advise them on any matter arising out of or in connection with their functions under this Ordinance or to manage the investment of the Fund in accordance with such general or specific directions as the Trustees may give in writing from time to time. (Enacted 1990) Cap 1037 s 9 Payment of fees and expenses (1) Any trustee who is required to travel in Hong Kong for the purpose of attending any meeting of the Trustees may be paid out of the income of the Fund reasonable travelling expenses in connection with such attendance. (2) The salaries, fees and expenses of any person or institution employed by the Trustees under section 8 shall be determined by the Trustees and paid out of the income of the Fund. (Enacted 1990) Cap 1037 s 10 Transaction of business and regulation of procedures (1) Meetings of the Trustees shall be held at such times and places as may be appointed by the Chairman, who shall preside at all such meetings. (2) The Chairman shall be the honorary Secretary to the Trustees. (3) Without prejudice to section 4(5) (as to acting trustees) if the Chairman is unable to perform any of his functions for any period due to absence from Hong Kong or for any other reason, he may nominate another trustee to perform those functions in his place and failing such nomination the Trustees, including any acting trustee, shall elect one of their number to perform the duties of Chairman during such period. (4) The Trustees may transact any of their business by circulation of papers, and for that purpose a resolution in writing which is approved in writing by 2 of the trustees shall be as valid and effectual as if it had been passed at a meeting of the Trustees. (5) At meetings of the Trustees 2 trustees shall constitute a quorum. (6) No act or decision of the Trustees shall be valid unless approved by 2 trustees but if so approved shall not be questioned on the ground that the other trustee did not concur or join therein, or objected thereto. (7) Sections 51 and 52 of the Interpretation and General Clauses Ordinance (Cap 1) shall apply in relation to the Trustees. (8) Subject to this section, the Trustees may regulate their own procedure. (Enacted 1990) Cap 1037 s 11 Accounts and audit (1) The Chairman shall be the honorary Treasurer of the Trustees and as such shall collect all sums due to the Fund and keep an account of all moneys received and disbursed to be presented at each meeting of the Trustees. (2) All contributions to the Fund shall be paid to the Chairman as honorary Treasurer, and shall be placed by him to the credit of the Fund in a bank which holds a valid banking licence under the Banking Ordinance (Cap 155) or shall be invested as the Trustees may think fit or placed in the hands of a person or institution employed under section 8(b) to manage the investment of the Fund. (3) Subject to subsection (4), no payment out of the Fund shall be made except on a resolution of the Trustees. |
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