1967-HKRS29-8-34_Part03 — Page 5

(Cop 31)

Incorporation.

Seal of corporation.

Certain 000- tracts and jastrumcats not required to be under seal

Beard of Governors. Schedule.

Vesting of property.

2

"constitution" means the constitution of New Asia College for

the time being in force under section 11;

"corporation" means the corporation established by section 3;

"New Asia College incorporated" means New Asia College

incorporated under the Companies Ordinance.

PART II.

INCORPORATION, VESTING OF PROPERTY AND DISSOLUTION

OF NEW ASia College INCORPORATED, ETC.

3. The members for the time being of the Board of Governors of New Asia College shall be a body corporate, by the name "The Board of Governors of New Asia College” in English and “FEBED**" in Chinese, and in those names shall have perpetual succession and may sue and be sued.

4. The corporation shall have a common seal, and the fixing of the seal shall be authenticated by the signature of the chairman or vice-chairman of the Board of Governors or of such other person as the Board of Governors may appoint.

5, Any contract or instrument which, if entered into er executed by a person not being a body corporate would not be required to be under seal, may be entered into or executed an behalf of the corporation by any person generally or specially authorized in writing for that purpose by the Board of Governors.

6, The persons whose names appear in the Schedule shall constitute the Board of Governors until a constitution for Now Asia College is prescribed under section 11 and shall then cease to hold office pursuant to this section.

7.

On the commencement of this Ordinance--

(2) all that piece and parcel of ground known and registered in the Land Office as Kowloon Inland Lot 6262 shall vest in the corporation subject to the payment of the rent and compliance with the conditions reserved by and contained in the Conditions of Grant of the said Lot known and registered in the Land Office as Conditions of Grant No. 6506; and

(b) the corporation shall succeed to all other property, rights, privileges, obligations and liabilities of New Asia College incorporated.

8. (1) On the commencement of this Ordinance, the Registrar of Companies shall strike New Asia College incorporated off the register kept for the purposes of the Companies Ordinance, and shall publish notice thereof in the Gazette and on the publication in the Gazette of this notice the company shall be dissolved.

(2) After the commencement of this Ordinance, no proceed- ings shall be taken under the Companies Ordinance in respect of New Asia College incorporated.

PART II.

POWERS OF CORPORATION, CONSTITUTION OF NEW ASIA COLLEGE, ETC.

9. (1) Subject to this Ordinance and the constitution, the corporation shall have the management of New Asia College and may do all such things as it considers necessary for that purpose or conducive to the furtherance of the aims and objects of New Asia College as set forth in the constitution,

(2) Without prejudice to subsection (1), the corporation may

(a) subject to the Charities (Land Acquisition) Ordinance.

acquire, bold and dispose of property;

(8) enter into any contract;

(c) invest money on deposit in any bank in the Colony or

elsewhere or in such other manner as it thinks fit;

(d) borrow or otherwise raise money on such security as it thinks fit, and for that purpose charge all or any of the property of New Asia College, other than land heki from the Crown on a grant by private treaty.

10. The corporation may delegate any person or the person for the time being holding any office designated by it to exercise such of its powers, other than the power to acquire, bold and dispose of property, or perform such of its functions or duties on its behalf as it may specify.

Dissolution of New Asia College incorporated,

(CLD. 31.)

Powers of corporation.

(Cap. 305)

Delegation by corporation.