1973-HKRS28-16-21_Part04 — Page 43

Amendment of section 3.

Amendment of section 4.

2

"original value" means the value of a scholarship on the first

day it is administered by the Trustee:

"Register" means the register of scholarships referred to in

section 8;

"separate capital" means the moneys and asses of a scholar-

ship referred to in Part III of the Register; "Separate Reserve Fund" means the reserve fund formed in respect of a scholarship referred to in Part III of the Register:",

3. Section 3 of the principal "Ordinance is amended in sub- section (2) by deleting paragraphs (a) and (b) and substituting the following-

"(a) the moneys and assets, including any sum accumu- lated by way of interest therefrom at the vesting day, the income from which is available for payment of the scholarships referred to in Parts I and 11 of the Register:

(b) the moneys and assets of the scholarships referred

to in Part III of the Register:".

Section 4 of the principal Ordinance is amended in sub-

4. section (1)–

(a) by deleting paragraphs (a) and (b) and substituting the

following-

*(a) as to the general capital, to apply the income therefrom in payment of the scholarships referred to in Parts I and II of the Register:

(b) as to the separate capital of each of the scholarships referred to in Part II of the Register, to apply the income therefrom in pay- ment of each scholarship in accordance with the terms laid down by the donor of the scholar- ship. if any, so far as they are not inconsistent with the provisions of this Ordinance:":

(b) in paragraph (c) by deleting "interest thereon" and sub-

stituting the following-

"income therefrom"; and

(c) by deleting paragraph (d) and substituting the follow-

ing-

"(d) as to any fees paid in accordance with sub- section (3) of section 8, to transfer them to the General Reserve Fund.".

5.

Section 8 of the principal Ordinance is repealed and replaced by the following-

"Register of scholar ships.

8. (1) The secretary shall cause a Register of Scholarships to be maintained and the following particulars shall be entered therein-

(a) in Part I-

(i) the names of the scholarships donated before the vesting day in respect of which the amounts donated and the conditions of award as laid down by the donors are unknown:

(1) the original value of each scholar- ship:

(ii) the conditions of award as laid down by the committee in respect of cach scholar- ship:

(b) in Part 1

(i) the names of the scholarships donated before the vesting day in respect of which the amounts donated and the conditions of award as laid down by the donors are known. and the names of scholarships donated and accepted after that day under paragraph (2) of subsection (2) of section 14;

(ii) the moneys and assets representing the original donation in respect of each scholarship:

(i) the original number of awards in respect of each scholarship:

(iv) the original value of each scholarship or of the awards thereof;

(v) the conditions of award in respect of each scholarship;

(vi) the name of the donor; and

(c) in Part III.......

(1) the Fung Ping Shan scholarship, and the names of the scholarships donated and accepted after the vesting day under para- graph (b) of subsection (2) of section 14;

(i) the moneys and assels representing the original donation in respect of each scholar- ship:

Repeal and

replacement of section 8.