132
THE HONGKONG GOVERNMENT GAZETTE, MARCH 31, 1911.
Personal property.
Mortgages.
Construc- tion.
Short title.
21. All monies already subscribed for the purposes of the University whether on deposit in any name or names in any Bank or not and all investments of such monies, and all interest, income and profits arising from such investments and all securities therefor shall vest in the University of Hongkong absolutely.
22. All the leasehold lands, buildings, tenements and premises described in the first column of the Fourth Schedule hereto which were immediately before the passing of this Ordinance vested in the persons whose names are stated in the second column of the said Schedule as Trustees for the University and all rights, easements and appurtenances thereto belonging and the Mortgage debts secured by the several Indentures of Mortgage of the said leasehold lands, buildings, tenements and premises specified in the third column of the said Schedule and all interest accrued or accruing thereon and the benefit of all the covenants powers and provisoes in the said Indentures of Mortgage contained shall immediately after the com- mencement of this Ordinance vest in the University of Hongkong and its Successors for all the unexpired residues of the respective terms of years assigned to the said Trustees or other the interest of the said Trustees therein subject to the equities affecting the same respectively.
23. This Ordinance shall ever be construed benevo- lently and in every case most favourably to the Uni- versity of Hongkong and the promotion of the objects. of this Ordinance.
24. This Ordinance may be cited as the University Ordinance, 1911.
Passed the Legislative Council of Hongkong, this 23rd day of March, 1911.
R. H. CROFTON,
Clerk of Councils,
Assented to by His Excellency the Governor, the 30th
day of March, 1911.
C. CLEMENTI,
Colonial Secretary.