1985 Ed.]
Professional Accountants
[CAP. 50
11
(d) purchase, take on lease or in exchange, hire or otherwise acquire any movable or immovable property, and erect any buildings;
(e) sell, lease, mortgage, dispose of or otherwise deal with any movable or immovable property of the Society;
(f) invest moneys of the Society;
(g) borrow moneys upon security or otherwise;
(h) exchange information with similar bodies and with members of the profession in other countries and arrange with such bodies for the reciprocal recognition of accountants;
(i) establish and maintain branches of the Society in Hong Kong and overseas and delegate the powers, duties and functions of the Society to such branches;
(j) institute, conduct, defend, compound or abandon any legal proceedings by or against the Society or its officers or otherwise concerning the affairs of the Society and compound or allow time for payment or satisfaction of any debts due or of any claims or demands made by or against the Society;
(k) refer any claim or demand by or against the Society to arbitration and comply with any award made as a result of such arbitration;
(l) make and give receipts, releases and other discharges for moneys payable to and for claims and demands of the Society;
(m) appoint committees to assist or advise the Council in the exercise of its powers and delegate to such committees such of its powers as it may from time to time determine; and
(n) publish periodicals, booklets or other written material, and produce or sponsor the production of documentary films or other audio-visual material, and distribute the same by sale, loan, hire or otherwise, with or without charge, as the Council thinks fit.
(2) A committee appointed under subsection (1)(m) may, subject to the by-laws of the Society, include persons who are not professional accountants.
19. (1) The Council may, on behalf of the Society, accept property, by way of grant, gift, testamentary disposition or otherwise, on such conditions as it may determine.
(2) A list shall be kept by the Registrar of all donations to the Society and the name of the donor and any special conditions attached to the donation shall be entered in the list.
(3) Property donated to the Society for a specific purpose shall be applied for that purpose.
Council may accept grants, gifts, etc.