1963-HKRS28-8-30_Part03 — Page 25

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Establish-

3. (1) There is hereby established a trust fund to be known as the ment of fund. Li Po Chun Charitable Trust Fund which shall consist of the shares Schedulc. enumerated in the Schedule hereto. donated by Li Po Chun to the Government, together with any interest thereon which shall have accrued prior to the commencement of this Ordinance and together with such further monies and assets as may from time to time be donated to the fund and accepted by the committee, or any investments from time to time representing any such monies and together with such interest and income derived from any such monies and assets.

The trustee.

(Cap. 310).

Administra- tion of the fund.

(2) The committee may, from time to time, solicit and accept on behalf of the trustee donations and bequests to the fund:

Provided that it shall be a condition of the acceptance by the committee of any further donations to the fund that the name of the fund shall remain unchanged.

4. (1) The fund is hereby vested in the Secretary for Chinese Affairs Incorporated, a body corporate incorporated under and by virtue of the Secretary for Chinese Affairs Incorporation Ordinance, as trustee.

(2) The trustee shall hold the fund upon the trusts and with and subject to the powers and provisions hereinafter contained in this Ordinance.

5. (1) The fund shall be administered by a committee, to be known as the Li Po Chun Charitable Trust Fund Committee which shall consist of-

(a) the Secretary for Chinese Affairs who shall be the chairman of

the committee;

()}) Li Po Chun or, during his lifetime, his nominee and after his death such person as may be nominated to be a member in accordance with the provisions of subsection (2);

(c) not more than three members appointed by the Governor. (2) Li Po Chun may by deed executed in his lifetime or by his will appoint any descendant of Li Po Chun to take his place on the committee or to exercise the power to nominate a representative on the committee and such right to sit on the committee and such power of nomination of a representative to sit on the committee may be passed by deed or will by any such person and by any other person to whom such right and power have been duly passed by deed or by will:

Provided that-

(a) save as is hereinafter provided, the right to be a member or the power to nominate a member in substitution for Li Po Chun shall not be exercised other than by a descendant of Li Po Chen; and

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(b) if at any time any descendant of Li Pa Chun who has a right to be a member or the power to nominate a person to be a member dies without having nominated any person to take his place, the power of such nomination shall vest in the Governor who may appoint a descendant of Li Po Chun to be a member or, if no descendant of Li Po Chun is available and in the Colony and willing to be a member, may appoint any other person to be a member so long only as no descendant of Li Po Chun is available and in the Colony and willing to be a member, such power to be in addition to and not in derogation from the power of appointment conferred by paragraph (c) of sub- section (1).

(3) A member appointed by the Governor shall hold office for three years from the date of his appointment, and may be re-appointed or removed by the Governor at his pleasure.

(4) The quorum necessary for the transaction of the business of the committee may be fixed by rules made under section 8 and unless so fixed, three members shall form a quorum.

6. (1) Subject to the provisions of subsection (2), the trustee shall Thẹ trust. apply the income of the fund, in each year ending on the 31st day of August, at the direction of the committee-

(a) as to not more than one thousand four hundred pounds sterling in the payment for the education, travelling expenses and main- tenance in the United Kingdom for the purpose of post-graduate training for periods of up to two years of graduates of univer- sities established in Hong Kong, each such graduate to be resident in Hong Kong at the date of the award and not con- currently holding any other award and to be selected by a Selection Board appointed by the Director of Education, nol more than one graduate to be selected in each year and the continuation for a second year of every such award being dependent on the Director of Education being satisfied us to the progress and conduct of the recipient thereof and not more than seven hundred pounds sterling to be paid to any graduate in any year;

(b) out of the balance remaining after making provision for the payments referred to in paragraph (a), in the payment, by the award of the following Li Po Chun Scholarships for the educa- tion of students resident in the Calony-

O seven scholarships in each of the following schools—

(a) King's College:

(6) Queen's College;

(c) Queen Elizabeth School; (d) Belilios Public School;