7
Prohibi- tion agalost payment
of dividend or bonus.
Saving.
(2) Notification in accordance with subsection (1) shall be made within twenty-eight days of the coming into operation of this Ordinance or within twenty-eight days of any amendment or change as the case may be.
(3) A fee of five dollars shall be payable for registering any document under this section.
(4) Upon payment of a fee of one dollar, any person may inspect any of the documents registered with the Registrar of Companies under this section.
12. No dividend or bonus shall be paid and no gift or division of money shall be made by or on behalf of the corpora- tion to or anong any of the members of the Council, or, to or among the students of any college or school established or maintained by the corporation except by way of prize, reward or special grant to students approved on each such occasion by a majority of the members of the Council.
13. Nothing in this Ordinance shall affect or be deemed to affect the rights of Her Majesty the Queen, Her Heirs or 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.
SCHEDULE,
RULES.
Citation
[a. 10.]
1. These rules may be cited as the Munsang College Rules, 1967.
2.
t...
The Contrcil.
Subject to the provisions of rules 3 and 4, members of the Council shall hold office for life.
3. The Executive Committee of the Munsang Alumni Association shall be entitled to elect one of its members to serve on the Council, Such meraber, however, shall retire at the second ordinary meeting of the Council held next after his election but shall be eligible for re-election by such Executive Committee.
4. Members of the Council shall vacate office
(a) upon failure to attend meetings of the Council for twelve con-
secutive months; or
(b) upon ceasing to reside in Hong Kong or within one hundred miles
thereof for six months without leave of the Council.
5.
The Council may appoint, subject to the provisions of subsection (D) of section 4 of the Ordinance, additional members thereto, and may All any vacancy occurring thereid.
6.
Managonent.
The functions of the Council shall be
(e) to provide and maintain all necessary buildings, furniture and apparatus for the use of the collegen and schoola established or maintained by the corporation;
(b) to take all measures pocesaury for raising funds and for carrying on the work and administering the affairs of the corporation;
(e) lo elect a Chairman, a Vice Chairman, an Honorary Secretary, an Honorary Treasurer, Supervisors and an auditor who shail be a person includel in the Authorised list of auditors kept under the Companies Ordinance, Chapter 32;
(d) to appoint Principals, acting Principale and Burests, to fix their
remuneration and to dispense with their services;
(e) to approve or reject recommendations by Principals or acting
Principale for appointments of Heads of Departments;
() to fix the scale of fees to be paid by studenta.
Duties of the Principal.
7. Principals and acting Principals shall be responsible for tha internal management and discipline of the colleges and schools established or maintained by the corporation and shall have power-
(c) subject to the approval of the Council, to appoint, dismiss or
suspend Heads of Departments;
(b) to engame, dismiss or suspond any teachers, clerks, servants, and any other employees of such institutions employed by the corporation; and
(c) subject to the approval of the Council ta fx the salaries and
emoluments of all such persons, or any of them.
Afectings of the Council.
8. Ordinary or extraordinary meetings of the Council shall from time to time be held for the despatch of business, and may be adjourned from time to time and from place to place. No meeting shall be valid unless a majority of the members of the Council are present in person.
ឆ. (1) Ordinary meetings eball be held twice a year: fourth week in January and one in the fourth week in July.
one in the
(2) All ordinary meetings shall be held in the Colony of Hong Kong either..
(a) at premises of the Mungang College; or
(6) nt such other convenient place as may be agreed upon by the
Council, and named in the notice convening the meeting.
10. In the absence of the Chairman at any meeting the Vice-Chairman or in his absence a member elected by those present shall be chairman of the meeting.