1955-HKRS28-8-22_Part01 — Page 17

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Control by committee.

Standing ordera.

Appoint- ment of officers.

Investment

(4) The quorum necessary for the transaction of business by the committee may be fixed by standing orders made under section 7 and unless so fixed shall be three members.

6. Subject to the provisions of this Ordinance, the com- mittee may determine all matters whatsoever touching the administration of the fund and the attainment of the objects thereof.

(1) The committee may make standing orders- (a) governing their procedure in the transaction of business; (b) for the maintenance of good order at their meetings; and (c) generally for matters relating to the administration and management of the fund and the discharge of their duties. (2) A copy of such standing orders shall be furnished to the Colonial Secretary and they shall be subject to disallowance, alteration or amendment by the Governor.

(3) All questions arising at any meeting of the committee shall be decided by a majority of votes of members present and, in case of an equality of votes, the chairman shall have a casting vote in addition to his original vote.

8. (1) The committee may from time to time appoint upon such salary and upon such terms as they may think proper, a secretary, treasurer, and such other officials as they may think necessary for the purpose of carrying out the trusts; and may employ any professional person to advise them on any point arising out of or in connexion with the said trusts.

(2) All salaries and fees of any person or persons so appointed or employed shall be paid by the trustee out of the fund.

9. The trustee may invest any moneys of the fund in such of monoys. investments, whether or not such investments are trust invest-

ments, as the committee may direct.

Accounla.

10. (1) The trustee shall cause proper accounts to be kept of all income and expenditure of the fund, and such accounts shall be audited at least once in every year from the date of the commencement of this Ordinance by an auditor appointed from time to time by the Governor.

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(2) The accounts kept under subsection (1) together with a copy of the auditor's report thereon, and a copy of a report by the committee on the administration of the fund during the previous year shall be laid upon the Table of the Legislative Council.

ment of

11. (1) As from the commencement of this Ordinance, any Extinguish- existing trust attaching to the Brewin Fund is hereby extinguish- existing ed, but without prejudice to any act or thing lawfully done or fund. omitted to be done under any such trust,

(a) Any person who has done or omitted to do any act or thing in relation to the Brewin Fund in good faith and in execution or intended execution of any such trust as is mentioned in subsection (1) is hereby discharged from all liability or claims by any person in respect of such trust.

SCHEDULE.

Tas FOND

fas at the 30th day of November, 1954).

I.

Cash.

$83,806.07.

Leasehold Property.

[3]

Inland Lot No. 1191. (Nos. 54 and 56, Bonham Strand West, Victoria).

Shares.

The Hongkong Electric Co. Ltd/1,760 shares of $10 each, fully paid.

The Hongkong and Shanghai Banking Corporation-5 shares of $125 each, fully paid.

Lombard Insurance Co. Ltd.-150 shares of $10 each, fully paid,

Passed the Legislative Council of Hong Kong, this and day of March, 1955-

Deputy Clerk of Councils.

(Secretariat 2/2321/52)