N
Power of corporation,
in the Colony and shall have and may use a common seal, and may from time to time break, change, alter and make anew the said seal as the corporation may deem fit.
4.
(1) The corporation shall have full power-
(c) to manage, administer and operate St. Paul's College in accord- ance with the purpose for which it was originally founded, namely, the offering to Chinese youths of a modern, liberal education in the English language (but including the subject of Chinese language in the curriculum) upon Christian principles, Protestant and Evangelical, as professed by the Church of England, and now continued by the Chung Hua Sheng Kung Hui: (b) to acquire, accept, and grant leases of purchase, take or other- wise hold and enjoy any lands, buildings, messuages or tene- ments of whatsoever nature or kind, and wheresoever situate. (c) to build, rebuild, alter, vary, renew, maintain and repair any buildings, messuages or tenements and to effect any improve- ment thereto;
(d) to acquire, by purchase or otherwise, and possess vessels and
other goods and chattels of whatsoever kind or nature;
(e) to invest moneys on deposit in any bank in the British Commonwealth or upon mortgage of any lands, buildings, messuages or tenements, or upon the mortgage, debentures, debenture-stocks, stocks, funds, shares or securities of any government, municipality, corporation or company:
() to grant, sell, convey, assign, surrender, exchange, partition, yield up, mortgage, pledge, demise, let, reassign, transfer, or otherwise dispose of any lands, buildings, messuages, tene- meals, mortgages, debentures, debenture-stocks, stocks, funds, shares, securities, vessels, goods and chattels, for the time being vested in or belonging to the corporation, upon such terms as the corporation may deem fit;
(g) to borrow money upon such terms as the corporation shall think fit, and to raise money by public or private subscription: (h) to accept grant in aid and subsidy from the Education
Department; and
(D generally to do such other things as may appear to be incidental or conducive to the aims and objects of the corpora- tion as provided by its regulations for the time being, or the purposes aforesaid or any of them.
(2) Notwithstanding the provisions of subsection (1) the corpora tion shall be subject to the provisions of the Charities (Land Acquisition) (23 of 1958). Ordinance, 1958.
S. (1) All property and effects at the time of the coming into Vesting of operation of this Ordinance belonging to and vested in the unincor- property. porated St. Paul's College or in any trustees for it including all shares. stocks, funds, loans or securities held for and on behalf of the unincor+ porated St. Paul's College by its trustees, and all moncys, securities for money, goods, chattels and effects whatsoever shall, at the time of the coming into operation of this Ordinance, be transferred to and be and become vested in the corporation.
(2) On the coming into operation of this Ordinance the corporation shall become liable for all debts and liabilities of the unincorporated St. Paul's College or incurred on its behalf by its trustees.
6. The corporation shall consist of such members as shall be Members. provided by its regulations.
7.
All the existing members of the unincorporated St. Paul's Existing College Council at the date of the coming into operation of this Ordin- Kemberg ance shall be the first members of the corporation.
to become members.
8. (1) The regulations set forth in the Schedule hereto shall be Regulations. the regulations of the corporation, but the same may be changed or Schedule. amended by the corporation at any time and from time to time in accordance with the provisions of the said regulations for the time being in force.
(2) Subject to this section the regulations of the corporation and any amendments thereto shall be deemed to have been made under the terms of this Ordinance.
(3) There shall be no obligation on the corporation to obtain the approval of the Governor in Council to such regulations nor shall it be necessary to publish any such regulations.
9. (1) The corporation shall forward to the Registrar of Com- Registration panies for registration the following-
with Regis-
(a) notice of the address of the principal office of the corporation Companies.
and any change thereof:
trar of
(b) a copy of the regulations and any amendment thereto, certified
as correct by the Chairman; and
(c) a list of the names and addresses of the office-bearers and members of the corporation and any change therein, certified as correct by the Chairman.
(2) Every 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 change, amendment or appointment, as the case may be.