FRIDAY, APRIL 3, 1987
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Q.W. LEE HEADS YOUDE FUND BOARD OF TRUSTEES
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MEMBER OF THE EXECUTIVE COUNCIL AND CHAIRMAN OF THE HANG SENG BANK, MR LEE QUO-WEI, HAS BEEN APPOINTED BY THE ACTING GOVERNOR AS CHAIRMAN OF THE BOARD OF TRUSTEES OF THE SIR EDWARD YOUDE MEMORIAL FUND.
THE BOARD OF TRUSTEES WAS SET UP UNDER THE SIR EDWARD YOUDE MEMORIAL FUND ORDINANCE WHICH CAME INTO EFFECT ON APRIL 1.
MEMBERS OF THE BOARD COMPRISE LADY YOUDE, WHO WILL ALSO BE A MEMBER OF THE COUNCIL OF THE FUND THE SECRETARY FOR DISTRICT ADMINISTRATION, MR DONALD LIAO LEGISLATIVE COUNCIL MEMBERS, MR PETER POON WING-CHEUNG WHO IS AN ACCOUNTANT AND MR J.J. SWAINE, A QUEEN'S COUNSEL AND A STEWARD OF THE ROYAL HONG KONG JOCKEY CLUB. THEY HAVE BEEN APPOINTED TO THE BOARD FOR A PERIOD OF THREE YEARS FROM APRIL 1, 1987 TO MARCH 31, 1990.
IN HER MESSAGE ON THE ESTABLISHMENT OF THE FUND, LADY YOUDE SAID: I WOULD LIKE TO THANK THE PEOPLE OF HONG KONG, DISTRICT ORGANISATIONS AND ALL OTHERS WHO HAVE CONTRIBUTED SO GENEROUSLY TO THE FUND.
+1 AM DELIGHTED TO KNOW THAT THE TOTAL AMOUNT OF DONATIONS HAS SO FAR REACHED $80 MILLION, SHE SAID.
LADY YOUDE ALSO THANKED SIR S.Y. CHUNG AND MEMBERS OF THE FUND COMMITTEE FOR THEIR HARD WORK IN PUBLICISING THE FUND AND IN MAKING ARRANGEMENTS FOR ITS FORMAL ESTABLISHMENT.
+1 LOOK FORWARD VERY MUCH TO SERVING AS MEMBER OF THE BOARD OF TRUSTEES AND OF THE COUNCIL OF THE FUND, SHE ADDED.
UNDER THE ORDINANCE, THE BOARD IS EMPOWERED TO INVEST ANY MONEYS OF THE FUNDS, TO EMPLOY ANY PROFESSIONAL PERSON OR FINANCIAL
INSTITUTION TO ADVISE IT ON INVESTMENT MATTERS, TO BORROW MONEY AND TO ACCUMULATE ANY INCOME OF THE FUND.
THE PURPOSE OF THE FUND WILL BE SUFFICIENTLY BROAD TO COVER THE FURTHERANCE OF EDUCATION, LEARNING OR RESEARCH LOCALLY OR OVERSEAS FOR THE PEOPLE OF HONG KONG AND TO ENABLE GRANTS OR LOANS TO BE MADE FOR THAT PURPOSE TO EDUCATIONAL INSTITUTIONS BASED IN
HONG KONG.
THE APPLICATION OF THE INCOME OF THE FUND WILL BE DETERMINED BY THE SIR EDWARD YOUDE MEMORIAL FUND COUNCIL AND SERVICED BY THE SECRETARY FOR EDUCATION AND MANPOWER.
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