11
Notice of change of conditions of award.
Deter- mination
LO
(b) the interest on any moneys or assers listed in the Third Schedule or added thereto in accordance with the pro- visions of subsection (2) of section 15 in payment of the scholarship payable out of such moneys or assets:
the Director may bring such fact to the notice of the committed.
(2) Upon consideration of this fact the committee may decide that it would be in the public interest to change the conditions of award of such scholarship.
19. If in accordance with the provisions of section 18 the committee decide that it is in the public interest to change the conditions of award of a scholarship the secretary shall cause to be published once each and on the same day in one English language daily newspaper and one Chinese language daily newspaper each circulating in the Colony a notice stating-
(a) the conditions of award of the scholarship as set forth in the Second Schedule or the Third Schedule or in respect of moneys donated to the fund in accordance with para- graph (c) of subsection (1) of section 4 as stipulated by the donor;
(b) that the committee proposes to change the conditions of
award of the scholarship;
(c) the proposed new conditions of award;
(d) that any person who objects to the proposal of the com- mittee may submit representations in writing addressed to the secretary and delivered to him at the office of the Director within one month of the date of publication of the notice and in addition may appear before the com mittee in person at a date to be stipulated in the notice, such date to be not less than one month after the date of publication of the notice, to explain his objection.
20. (1) The committee shall meet not less than one month
of change and not more than two months after the date of publication of of condition the notice referred to in section 1g, and shall consider any of award.
objection to a proposal to change the conditions of award of a
scholarship and at such meeting or at any adjournment thereof shall decide whether the conditions of award of such scholarship should be changed and in what manner.
(2) If at such meeting the committee shall decide to change the conditions of award of a scholarship it shall make an order changing such conditions.
(3) Such order shall be published in the Gasette under the hand of the Director.
(4) Upon publication of such order the Trustee shall there- upon hold the moneys vested in him in respect of such scholar- ship upon trust to apply the interest thereon in payment of such scholarship in accordance with such altered conditions of award.
of con-
21. The power of alteration of the conditions of award Restriction contained in sections 18, 19 and 20 shall be exercised in accord- of change ance with the cy prés rule and shall include a power to combine ditions of
sward. any two or more scholarships and to divide any scholarship.
adminis-
22. The cost of administering the fund shall be paid out of Cost of the general revenue of the Colony,
tration.
23. (1) As from the commencement of this Ordinance, any Extin- existing trust attaching to any of the moneys and assets listed in guishment of existing the First Schedule or in the second column of the Third Schedule trusts, or any interest which shall have accrued thereon is hereby extinguished, but without prejudice to any act or thing lawfully done or omitted to be done under any such trust.
(2) Any person who has done or omitted to do any act or thing in relation to such moneys and assets or such interest in good faith and in execution or intended execution of any such trust as is mentioned in subsection (1) is hereby discharged from all liability or claims by any person in respect of such trust.
24. Nothing in this Ordinance shall affect or be deemed to Saving of affect the rights of Her Majesty the Queen, Her Heirs or rights of
Clown. Successors, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Ordinance and those claiming by, from or under them.