ZETLAND HALL TRUSTEES INCORPORATION Ord. No. 62/77
(AMENDMENT)
(Cap. 29.)
(i) securities of the Government of any part of the Commonwealth; or
(ii) investments listed for the time being in Part II of the Second Schedule to the Trustee Ordinance; (b) by deed under their common seal to grant sell, convey, assign, surrender, exchange, partition, yield up, mortgage, demise, reassign, transfer or other- wise dispose of any lands, buildings, messuages, tenements, mortgages, debentures, stocks, funds, shares or securities, or other goods and chattels whatsoever, which are for the time being vested in or belonging to the trustees upon such terms as the trustees think fit."; and
(f) in subsection (6)
(i) by deleting "corporation" and substituting the following—
"trustees"; and
(ii) by deleting "its absolute discretion" and substituting the following-
"their absolute discretion".
4. Sections 4, 5 and 6 of the principal Ordinance are amended by deleting "corporation" wherever it occurs and substituting in each place the following—
"trustees".
A265
Amendment of sections 4, 5
and 6.
5. The principal Ordinance is amended by adding after section 6 Addition of the following new section-
"Distribution of assets.
6A. (1) If at any time the trustees are of the opinion that they can no longer serve any purpose for the benefit of freemasonry in Hong Kong and that such position is likely to remain unchanged in the then foreseeable future, the trustees shall convert into money such of their assets as they are able.
(2) After such conversion the trustees shall- (a) pay to each lodge then listed in the Schedule the sum of HK$5,000; but if the funds of the trustees are insufficient for this purpose the trustees shall pay the entire funds to the lodges in equal shares; and
(b) divide any balance of the funds that may remain after such payments among the English, Scottish and Irish Constitutions according to the propor- tion in which those constitutions are represented by the lodges then listed in the Schedule and pay the shares thus found to the respective District Treasurers.".
new section 6A.
6. Section 7 of the principal Ordinance is repealed and replaced Repeal and by the following-
"Meetings of trustees,
7. (1) The secretary shall convene a general meeting of trustees during the month of May in each year at which the trustees shall elect from among their own number a chairman and a deputy chairman who shall hold office until the conclusion of the general meeting in the next succeeding year.
replacement of section 7.