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9. All resolutions carried as aforesaid by a majority of the Members present at any ordinary meeting and all resolutions carried as aforesaid by an absolute majority of the Members for the time being at any special meeting and all acts done pursuant to any such resolutions respectively shall be deemed to be the resolutions and acts respectively of the Council.
10. Minutes of the proceedings of every meeting of the Council shall be entered in a book to be kept for that purpose and signed by the chairman of such meeting or of the following meeting; and shall when so entered and signed be prima facie evidence of the facts therein stated.
11. The Council may from time to time by resolution passed at one meeting, and confirmed after due notice at a subsequent meeting held within three months, make and afterwards annul such rules and regulations for and in rela- tion to the conduct of the business of the Corporation, as they may think fit.
12. The Secretary or Treasurer or any Member of Council may call an ordinary meeting of the Council by delivering to each of the other Members, or leaving at their respective dwelling-houses, or sending them respectively. through the post to their last known places of abode in the Colony of Victoria, Hong Kong, seven days' previous notice of such meeting, stating the time and place of holding the meeting and the objects or purposes for which the meeting is to be held. A notice so left or sent shall be effective although the Member of Council for whom it is intended may at the time be absent from home and may never actually receive the notice.
FINANCE.
13. A report upon the College to be signed by the Warden, with a financial statement, shall be presented annually to the Council, and a copy thereof shall be trans- mitted to the local Governing Body in the South China Mission for the information of the Church Missionary Society. The Secretary of the South China Mission shall be the medium of communication between the Council and the Church Missionary Society.
14. A current account of the moneys of the Corporation shall be kept in the name of the Treasurer on behalf of the Corporation at such Bank as the Council shall from time to time approve.
15. All receipts on behalf of the Corporation from whatever source shall be paid in to the credit of such account as soon as conveniently may be, and all drafts on the account shall be signed by the Treasurer.
16. In every year in which there shall be an available surplus of the income over the expenditure, the Council shall set aside and invest on a reserve or sinking fund at least $1,200.00 as provision for extension, for replacing buildings on expiration of leases and for unforeseen contingencies.
17. Future investments may be of such a nature as the Council shall from time to time by resolution approve of, and shall not be limited to strict Trustee investments, and all investments may be from time to time varied under the authority of a resolution of the Council.
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