(ONE, 1040)
Incorporation of the Po Leung Kuk.
Matters relating
to the corpora- Jon. Schedule.
Vesting of property,
"child" means any person who has not attained the age of twenty-
one years:
"corporation" means the Society continuing to exist by virtue of
section 3:
"director" means a director of the board:
"ordinary general meeting" means an ordinary general meeting of
the corporation;
"ordinary member" means an ordinary member of the corpora-
tion:
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"repealed Ordinance" means the Po Leung Kuk Incorporation
Ordinance repcaled by section. 11; [
"secretary" means the secretary of the corporation!
"voting member" means a voting member of the corporation: "year" means the period commencing on the 1st day of April in any year and ending on the 31st day of March in the follow- ing year.
3. (1) The Society incorporated by virtue of the repealed Ordinance shall continue to exist
(2) The corporation~.
(2) shall be known as the Po Leung Kuk and in that pame
may sue and be sued:
(b) shall continue to have perpetual succession; and
(c) may do and suffer all such other acts and things as
bodies corporate may lawfully do and suffer.
4.
The provisions of the Schedule shall have effect with respect to-
(a) the objects and powers of the corporation:
(b) the membership of the corporation;
(e) the board;
(d) the advisory board;
(e) meetings and procedure,
and otherwise in relation to the corporation.
5. (1) All the immovable property vested in the Society at the commencement of this Ordinance shall continue to be vested in the corporation for the residue of the term of years created by the respective Crown leases, subject to the covenants, conditions.
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stipulations, exceptions, reservations, provisos and powers con- tained in and reserved by the said Crown leases.
(2) Any other property, interest, right and privilege vested in the Socicly at the commencement of this Ordinance shall continue to be vested in the corporation on the terms and conditions, if any, on which the same was vested at that date, and the corporation shall continue to be subject to the obligations and liabilities to which the Society was subject at the commencement of this Ordin-
ance.
6. The board may exercise any of the powers of the cor- poration which are not required by this Ordinance to be exercised by the corporation in general meeting.
7.
(1) The board shall cause to be kept proper books of account of all transactions of the corporation.
(2) Such books of account shall be open at all reasonable times to the inspection of any director and of any person appointed by the Governor in that behalf.
(3) A chairman shall within six months after the expiration of his term of office send to the Colonial Secretary a statement of the accounts of the corporation which shall–
(a) be signed by two persons who were directors during the
year to which the statement relates;
(b) be audited in accordance with subsection (4); and
(c)
contain the following particulars—
(1) an account of the assets and liabilities of the corporation at the end of the previous year;
(ii) an account of the receipts and disbursements of the corporation during the previous year; and
(i) a report on the administration of the corporation during the previous year.
(4) The accounts of the corporation and the signed statement of the accounts shall be audited by an auditor who is a profes- sional accountant holding a practising certificate as provided in the Professional Accountants Ordinance and appointed by the corporation. The auditor shall certify the statement of the accounts subject to such report, if any, as he thinks fit.
(5) A copy of the signed and audited statement of the accounts and the auditor's report, if any, shall within six months after the end of the year be sent to each-
(a) director:
Board may exercise powers of corporation.
Accounts.
(p. 50.)