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[接上页] (a) invest the Foundation assets in such investments as the Council thinks fit; (b) convert into money any Foundation assets not acquired in the form of money; (c) borrow money in such manner, on such terms and against such security as the Council thinks expedient; (d) accumulate Foundation income not applied under subsection (2) or paid under section 9 or 14(b). (Enacted 1988) Cap 399 s 7 Appointment of committees (1) The Council may by resolution establish one or more committees to advise it on all or any of its functions under this Ordinance and may appoint persons to be members of such committees. (2) A person may be appointed to be a member of a committee whether or not he is a member of the Council. (3) Subject to section 11 and to any direction given by the Council, every committee may regulate its own procedure. (Enacted 1988) Cap 399 s 8 Employment of assistants and advisers The Council may, in the name and on behalf of the Foundation, employ- (a) one or more persons to assist it in the performance of its functions; and (b) one or more professional persons or financial institutions to advise it on any matter arising out of or in connection with its functions under this Ordinance or to manage the investment of the Foundation assets in accordance with such general or specific directions as the Council may give in writing from time to time. (Amended 58 of 1991 s. 3) (Enacted 1988) Cap 399 s 9 Payment of fees and expenses (1) Any member of the Council or of any committee who is required to travel to or in Hong Kong or elsewhere for the purpose of attending any meeting of the Council or of that committee, shall be paid out of Foundation income reasonable travelling and accommodation expenses in connection with such attendance. (2) The salaries, fees and expenses of any person or institution employed by the Council under section 8 shall be determined by the Council and paid out of Foundation income. (Enacted 1988) Cap 399 s 10 Appointments by the Chief Executive Remarks: Adaptation amendments retroactively made - see 18 of 1999 s. 3 (1) A person appointed by the Chief Executive under this Ordinance- (a) shall hold office at the discretion of the Chief Executive; (b) subject to paragraph (a), shall hold office for such period as may be specified in the terms of the appointment; (c) may resign by giving notice in writing to the Chief Executive.(2) A person appointed by the Chief Executive under this Ordinance whose appointment expires or who resigns may be re-appointed by the Chief Executive. (3) The Chief Executive shall give notice in the Gazette of every appointment made by him under this Ordinance. (Enacted 1988. Amended 18 of 1999 s. 3) Cap 399 s 11 Transaction of business and regulation of procedures Remarks: Adaptation amendments retroactively made - see 18 of 1999 s. 3 (1) Meetings of the Council shall be held at such times and places as may be appointed by the Chairman, who shall preside at all such meetings. (2) If the Chairman is unable to perform the functions of his office for any period due to absence from Hong Kong or for any other reason, he may nominate a member of the Council to perform those functions in his place, and failing such nomination, the Chief Executive shall appoint a member of the Council to act as Chairman for that period. (Amended 18 of 1999 s. 3) (3) The Council and any committee may transact any of its business by circulation of papers, and for that purpose a resolution in writing which is approved in writing by a majority of members shall be as valid and effectual as if it had been passed at a meeting of the Council or of that committee, as the case may be. (4) With the exception of section 53, Part VII of the Interpretation and General Clauses Ordinance (Cap 1) shall apply in relation to the Council and any committee. (5) Subject to this section, the Council may regulate its own procedure. (Enacted 1988) Cap 399 s 12 Accounts Remarks: Adaptation amendments retroactively made - see 18 of 1999 s. 3 (1) The Council shall- (a) keep such accounts and records of the financial transactions of the Foundation as the Director of Accounting Services may require; and (b) prepare for each financial year a statement of the accounts of the Foundation, which statement shall include an income and expenditure account and a balance sheet and be signed by the Chairman of the Council.(2) The statement of the accounts of the Foundation, signed as required by subsection (1)(b), shall be submitted by the Chairman of the Council to the Director of Audit within 6 months from the end of the financial year to which it relates, or within such longer period as the Chief Executive may determine. (Amended 18 of 1999 s. 3) (3) The accounts of the Foundation and the signed statement of the accounts shall be audited by the Director of Audit who shall certify such statement subject to any report he may think fit to make. (Enacted 1988) Cap 399 s 13 Reports Remarks: |