A484
Ord. No. 74/88
Duties and powers of Council
Appointment of committees
Employment of assistants and advisers
QUEEN ELIZABETH FOUNDATION FOR THE MENTALLY HANDICAPPED
(b) the Secretary for District Administration, or his representative; (c) the Commissioner for Rehabilitation, or his representative;
(d) a member nominated by the Royal Hong Kong Jockey Club and
appointed by the Governor; and
(e) not less than 5 nor more than 9 other members appointed by the
Governor.
6.
(1) Subject to this Ordinance, the Council, in the name and on behalf of the Foundation-
(a) shall apply Foundation income and may apply Foundation assets for carrying out the purpose of the Foundation as described in section 3(2); and
(b) shall determine and perform all matters relating to the application of that income and those assets and the carrying out of that purpose.
(2) In performing its duties under subsection (1), the Council may apply all Foundation income and all the Foundation assets except that-
(a) sufficient income shall be reserved in each financial year to make payments under sections 9 and 14(b) in respect of that financial year;
(b) a sum of $81 million (being 90 per cent of the value of the Foundation assets described in section 3(4)(a) and (b)) shall be reserved for investment in accordance with subsection (3)(a).
(3) The Council may, in the name and on behalf of the Foundation- (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).
7.
(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.
8. 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
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