Standing orders of committee.
Secretary,
Register of
scholar.
ships.
Treasurer
And
auditor.
7.
(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 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) There shall be a secretary to the committee (herein- after referred to as the secretary) who shall be appointed by the Governor.
(a) The secretary shall summon such meetings of the committee as may be required of which he shall give at least seven days' notice with an agenda.
(3) The secretary shall maintain minutes of cach meeting of the committee.
9. (1) The secretary shall cause to be maimained a register of scholarships showing-
(e) the name of each scholarship:
(b) the conditions of award of such scholarship;
(c) the moneys set aside for the payment of such scholarship
and the investments representing the same.
(2) The register shall be available for inspection by the general public at the office of the Director at all convenient times on payment to the fund of a fee of five dollars.
10. (1) There shall be a treasurer of the fund (hereinafter referred to as the treasurer) who shall be appointed by the Governor.
(2) The treasurer shall keep full and complete accounts of the fund and separate accounts in respect of-
(a) the moneys and assets listed in the First Schedule; (b) each item of the moneys and assers listed in the second
column of the Third Schedule;
(c) the moneys and assets representing any donations made to the fund in accordance with paragraph (c) of subsection (1) of section 4 and not merged with the moneys and assets set forth in the First Schedule in accordance with section 15.
(d) any sums paid in accordance with subsection (2) of
section 9.
(3) The treasurer shull prepare and submit for audit by an auditor appointed by the Governor annual accounts as at the 31st August as soon as possible after that date in each year to which shall be appended a statement of the investments in respect of the separate moneys shown in the separate accounts listed in sub- section (2).
(4) The audited accounts, together with the auditor's report, shall be included in the Annual Report of the Director of Eduza- tion which is laid upon the table of the Legislative Council.
(5) The treasurer shall make all payments to holders of scholarships in accordance with the directions of the Trustee.
11. (0) If the original donor of any moneys at any time Investment. farming part of the fund stipulated or shall suipulate at the time when the donation is made any particular kind of investment or gave or shall give the moneys in the form of a particular kind of investment the Trustee may invest and continue to hold invested such moneys in such kind of investment.
(2) The Trustee may continue to hold any investments in which any moneys forming part of the fund are at present invested.
(3) Subject to the provisions of subsections (1) and (2) the Trustee shall invest moneys comprised in the fund only in invest- ments permitted for the investment of trust funds by any enactment or in such other investments as may be specially authorized by the committee.
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