(b) mortgages of leasehold properties situate in Hong Kong as recommended by a chartered accountant practising in Hong Kong;
(c) shares of The Hongkong & Shanghai Banking Corporation and the Union Insurance Society of Canton, Ltd.:
Provided that the price to be paid will show a return of not less than five per cent based on the last annual dividend paid;
(d) shares of public companies incorporated in Hong Kong and quoted on the Stock Exchange in Hong Kong as recommended by a chartered accountant practising in Hong Kong:
Provided that the price to be paid will show a return of not less than six per cent based on. the last annual dividend paid;
и
and shall have full power to sell, convey, assign,"transfer, surrender and yield up all such investments and may similarly in its absolute discretion re-invest' the proceeds thereof in part or in whole in any of the said investiments as aforesaid.
(6) The corporation shall also have full power to receive and accept gifts, donations, contributions and legacies and to hold or realize the same in its absolute discretion subject to any conditions attached to such gifts, donations, contribu- tions or legacies."
Passed the Legislative Council of Hong Kong, this 12th day of October, 1955.
Depthy Clerk of Councils.
(Secretariat 34/3231/55)
HONG KONG
No. 49 OF 1955-
I assent.
Аланьким.
ESSANTROP
13th October, 1955.
An Ordinance to amend the Masonic Benevolence Fund Incor-
poration Ordinance, Chapter 297.
[14th October, 1955.]
Be it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows-
1. This Ordinance may be cited as the Masonic Benevolence Short title. Fund Incorporation (Amendment) Ordinance, 1955.
2.
Section a of the Masonic Benevolence Fund Incorpora- Amend- tion Ordinance is amended by the addition after subsection (3) ment of
section 2. of the following new subsections—
(Cap. 297).
(4) The corporation shall also have full power to invest its funds not immediately required in any of the following in accordance with the conditions stipulated hereunder-
(a) British Government, British Commonwealth Gov- ernment or British Colonial Government securities;