2
of the term of years created by a Crown lease dated the 26th September 1911 under which the said prem- ises are held, subject to the payment of the rent and the performance of the covenants and conditions reserved by and contained in the said Crown lease of the same.
(2) The corporation is deemed to have been freed and discharged, with effect from the 6th March 1925, from the following covenant in the said Crown lease-
"AND FURTHER that the said Lessee his suc- cessors and assigns or any other person or persons shall not nor will, during the continuance of this demise, use, or allow to be used the said premises or any part thereof, for any other purpose what- ever than for the promotion of the charitable designs and objects of Saint Paul's College as they may be from time to time legally established without the previous licence or consent of His said Majesty, His Heirs. Successors, or Assigns signified in writing by the Governor of the said Colony of Hong Kong, or other persons duly authorized in that behalf.".
and such covenant shall be deemed to have beeo wholly extinguished.
(3) The corporation shall hold the said premises and all profits arising therefrom upon trust-
(a) for the training of men and women for the ordained and lay ministry of the Anglican Church in Hong Kong:
(b) with the prior approval of the Hong Kong Bishopric Fund Trustees Incorporated, for the augmentation of the income of the holder for the time being of the office of Bishop of Victoria, by an amount not exceeding in any year the sum of sixty thousand dollars or such larger amount as the Governor, on the application of the said Trustees, may approve in respect of any period not exceed- ing five years:
(c) for the promotion of welfare organizations concerned with the education, training and development of young people in Hong Kong:
i
(Cap. 306.)
(d) for providing office accommodation for the administrative work of the Diocese; and (e) for such other purposes as may be sanc- tioned from time to time by the Governor. (4) The Hong Kong Bishopric Fund Trustees Incorporated referred to in paragraph (b) of sub- section (3) are the trustees registered in that name under the Registered Trustees Incorporation Ordin- ance and shall have power to act as trustees for the purposes of that paragraph.
(5) In the event of the whole or any part of the said premises being sold, surrendered, mortgaged, exchanged for other premises, leased in consideration of a premium or otherwise alienated in consideration of a capital sum or in exchange for other premises, the trusts set forth in subsection (3) shall apply to such capital sum or exchanged premises and to the income and profits therefrom; and no person dealing with the corporation in the exercise of any of its powers set forth in section 3 in relation to the said premises or any part thereof shall be concerned to see that the said trusts are or have been observed.
(6) Before the first day of June in each year the corporation shall submit audited accounts to the Colonial Secretary and the Attorney General in such form and in respect of such period as the Colonial Secretary may specify, and shall furnish such further information as he may require.
(7) Use made of the said premises or any part thereof and the income and profits therefrom prior to the commencement of the Bishop of Victoria Incor- poration (Amendment) Ordinance 1972 shall be deemed to have been in accordance with the covenants and conditions contained in the said Crown lease of the said premises.”.
Passed by the Hong Kong Legislative Council this 19th day of January, 1972.
Clerk to the Legislative Council.
No comments yet.
Private notes are available after approval.