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An Ordinance to establish the Lord Wilson Heritage Trust and to provide for its administration and related matters. (Enacted 1992) [18 December 1992] (Originally 85 of 1992) Cap 425 s 1 Short title This Ordinance may be cited as the Lord Wilson Heritage Trust Ordinance. (Enacted 1992) Cap 425 s 2 Interpretation In this Ordinance, unless the context otherwise requires- "Board of Trustees" (受人委员会) means the Board of Trustees of the Lord Wilson Heritage Trust established by section 4; "Council" (理事会) means the Council of the Lord Wilson Heritage Trust established under section 7; "objects of the Trust" (信讬宗旨) means the objects specified in section 3(3); "Trust" (信讬) means the Lord Wilson Heritage Trust established by section 3(1); "Trust assets" (信讬资产) means the assets of the Trust specified in section 3(2); "Trust capital" (信讬资本) means Trust assets other than Trust income; "Trust income" (信讬收益) means moneys- (a) earned from the investment of Trust assets; (b) generated by the letting or other use of Trust property or by other activities undertaken by the Board of Trustees or by the Council for promoting the objects of the Trust; or (c) subscribed to the Trust on a recurrent basis. (Enacted 1992) Cap 425 s 3 Establishment of the Trust (1) There is established a trust to be known as the "Lord Wilson Heritage Trust". (2) The assets of the Trust shall consist of- (a) all moneys and property donated, subscribed or bequeathed before the commencement of this Ordinance in anticipation of the establishment of the Trust, together with any moneys earned therefrom; (b) such other moneys and property as may, on or after the commencement of this Ordinance, be donated, subscribed or bequeathed to the Trust and accepted by, or otherwise acquired by the Board of Trustees for the Trust; and (c) Trust income accumulated under section 6(1)(c).(3) The objects of the Trust are the preservation and conservation of the human heritage of Hong Kong. (Enacted 1992) Cap 425 s 4 Establishment of the Board of Trustees Remarks: Adaptation amendments retroactively made - see 59 of 2000 s. 3 (1) There is established a body corporate with perpetual succession to be known as the "Board of Trustees of the Lord Wilson Heritage Trust" which may in that name sue and be sued. (2) The Board of Trustees shall consist of- (a) a Chairman appointed by the Chief Executive; (b) the Secretary for Home Affairs, or his representative, as ex officio member; (Amended L.N. 372 of 1996; 32 of 2000 s. 48) (c) not fewer than 10 nor more than 14 other members appointed by the Chief Executive. (Amended 59 of 2000 s. 3)(3) The Board of Trustees shall be the trustee of the Trust. (4) The Board of Trustees shall have a common seal the fixing of which shall be- (a) authorized or ratified by resolution of the Board of Trustees; and (b) authenticated by the signature of any 2 members of the Board of Trustees authorized by the Board either generally or specially to act for that purpose. (Enacted 1992) Cap 425 s 5 Application of the Trust assets Remarks: Adaptation amendments retroactively made - see 59 of 2000 s. 3 (1) The Board of Trustees shall hold the Trust assets upon trust to apply the same, in such proportions as the Board of Trustees may determine- (a) for promoting the objects of the Trust; (b) for the purpose of investment.(2) After provision has been made for fees and expenses payable under section 10, the Trust income for a financial year may be applied either for promoting the objects of the Trust or for the purpose of investment. (3) Trust capital may be applied- (a) for promoting the objects of the Trust, subject to the written consent of the Chief Executive in respect of each application; (Amended 59 of 2000 s. 3) (b) for the purpose of investment, in such manner as the Board of Trustees may determine. (Enacted 1992) Cap 425 s 6 Additional powers of the Board of Trustees (1) The Board of Trustees may- (a) invest Trust assets in such investments as it thinks fit, whether or not such investments are in Hong Kong or are authorized by section 4 of the Trustee Ordinance (Cap 29); (b) borrow money in such manner, on such terms and against such security as the Board of Trustees thinks expedient; (c) accumulate Trust income not applied under section 5(2) or paid under section 10; (d) acquire, by gift, purchase or other means, property whether or not subject to any mortgage, easement or other charge, and hold and sell, let or otherwise dispose of such property either for promoting the objects of the Trust or for the purpose of investment.(2) The Board of Trustees may accept donations of money or property intended for promoting the objects of the Trust, but shall have the right to refuse such donations. (3) For the purpose of promoting the objects of the Trust, the Board of Trustees may- (a) make grants to any person or body, public or private; (b) subject to any law relating to the lending of money at interest, lend money to any person or body, public or private; |