1973 Ed.]
Education Scholarships Fund
[CAP. 1085
3
(b) the moneys and assets of the scholarships referred to in Part III of the Register; (Replaced, 63 of 1973, s. 3)
(c) any further donations at any time made to the fund and accepted by the committee;
(d) any sums paid in accordance with section 8(2).
(3) For the purposes of this Ordinance, the person for the time being performing the duties of the office of the Director shall be a corporation sole and shall have the name of the "Director of Education" and shall have perpetual succession and all moneys and assets vested in the Trustee under this Ordinance shall be deemed to be vested in the Director of Education without any further transfer or conveyance.
4. (1) The Trustee holds and stands possessed of the fund subject to such direction and control by the committee as is provided in this Ordinance and subject to and in accordance with the provisions of this Ordinance upon trust-
(a) as to the general capital, to apply the income therefrom in payment of the scholarships referred to in Parts I and II of the Register; (Replaced, 63 of 1973, s. 4)
(b) as to the separate capital of each of the scholarships referred to in Part III of the Register, to apply the income therefrom in payment of each scholarship in accordance with the terms laid down by the donor of the scholarship, if any, so far as they are not inconsistent with the provisions of this Ordinance; (Replaced, 63 of 1973, s. 4)
(c) as to any further moneys donated to the fund and accepted by the committee in trust to apply the income therefrom in accordance with the terms laid down by the donor or by the committee in accordance with section 14; (Amended, 63 of 1973, s. 4)
(d) as to any fees paid in accordance with section 8(3), to transfer them to the General Reserve Fund; (Replaced, 63 of 1973, s. 4)
(2) Payments out of the fund may be made only to persons who at the date of taking their respective examinations were resident in the Colony but may be made in respect of attendance at any educational institution whether within the Colony or not. (Amended, 13 of 1966, Schedule)
5. (1) There is hereby established a committee to be known as the Education Scholarships Fund Committee.
(2) The committee shall consist of—
(a) the Director or his representative who shall be the chairman of the committee;
Objects of the trust fund.
Establishment of committee.
190/88.5.2.