Appointment
of officers and professional advisers.
Investment of moneys.
Accounts.
Saving
10. (1) The Board may from time to time appoint, upon such salary and upon such terms as it may think proper, a secre tary, a treasurer, and such other officials as it may think necessary for the purpose of carrying out the trusts and may employ any professional person to advise it on any matter arising out of or in connexion with the trust.
(2) All salaries and fees of any person so appointed or employed shall be paid by the Board out of the fund.
11. (1) The Board may invest any moneys of the fund in such investments, whether or not such investments are trust invest- ments, as the Board may decide, subject, in the case of investments which are not trust investments, to the prior approval of the Investment Advisory Committee.
(2) The Governor shall, for the purposes of subsection (1). appoint an lovestment Advisory Committee, which shall consist of not less than three nor more than five persons.
12. (1) The Board shall cause proper accounts to be kept of all transactions of the fund and shall cause to be prepared, in respect of the period from the vesting day to the 31st day of December 1969, and thereafter in respect of every period of one year ending on the 31st day of December, a statement of the accounts of the fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by all the trustees.
(2) The accounts of the fund and the signed statement of the accounts shall be audited by an authorized auditor.
13. Nothing in this Ordinance shall affect or be deemed to affect the rights of Her Majesty the Queen. Her Heirs or Succes- sors, 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.
1
5
Passed by the Hong Kong Legislative Council this 2nd day of July, 1969.
Lave
Deputy Clerk of Councils.
This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.
Deputy Clerk of Councils.
SCHEDULE.
MICHAEL ALEXANDER ROBERT YOUNG HERRIES
(Chairman)
JOHN DOUGLAS CLAGUE
LAWRENCE KADOORIE
GERALD MORDAUNT BROOME SALMON.
Ts. 5.1