Amcadment of
Section 9.
Addition of new recalce HA. TB, C. 917, 96 and
*F.
Section 903) of the principal Ordinance is amended by deleting "30th day of September" and substituting the following
5.
"lat day of October"'.
The principal Ordinance is amended by adding after section 9 the following new sections—
**Extablishment
and vector or Eund.
Djeca st the tund.
Coat of
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Investment,
Accounts,
9A. (1) There is hereby established a trust fund, to be known as the Agricultural Products Scholarship Fund, which is vested in the Director as trusler.
(2) The trustee shall hold the fund upon the trusts and subject to the provisions contained in this section and sections 9B, PC. 90 and 98.
(3) The fund shall consist of--
(2) the sum of $1,000,000 which shall be appropriated for that purpose by the Director from modeys received by him under this Ordinance; and
(b) such further moneys and assets as may be
(D) donated, subscribed or bequeathed to, and accepted by the trustee; or
(U) otherwise acquired by the trustee.
98. The trustee shall apply the fund for the following objecta-
(a) the provision of scholarships, grants and loans for the education and training of persons who are employed in agriculture and agricultural product marketing industries in Hong Kong and their families and dependants; and
(b) the provision of scholarships, grants and loans for The education and training of persons who wish to enter the agriculture and agricultural product marketing industries in Hong Kong.
9C. (1) The cost of the administration of the fund and costa incurred by the Committee in the discharge of its functions under this Part, other than any audit fee paid under section 9E which shall be a charge on the fund. shall be paid from moneys, other than the fund, received by the Director under this Ordinance.
(2) The Financial Secretary may direct that an annual supervision fee to be determined by him shall be charged against the income of the fund and paid into the general revenue of Hong Kong.
90. The trustee may invest any of the moneys of the fund in investments of any kind whether such investments are permitted For the investment of trust funds or not, subject, in the case of investments which are not so permitted, to the prior approval of the Financial Secretary.
9E. (1) The trustee shall cause proper accounts to be kept of all transactions and shall cause to be prepared for every period of twelve months ending the 31st day of March in each year a statement of the accounts of the fund, which statement shall include an income and expenditure accoun and balance sheet and shall be signed by the trustee.
Establis barke ak
of Adidas Comeliter.
3
(2) The accounts and the signed statement of the accounts shall be audited by an auditor, appointed from time to time by the Governor, who shall certify the statemeal subject la such report, if any, as he may think ft.
(3) A copy of the signed and audited statement of accounts together with the auditor's report, if any, and a report by the trustee on the administration of the fund during the period covered by the audited accounts shall be leid upon the table of the Legislative Council not later than the 31st day of October Dext following the end of such period or so soon thereafter as the Governor may in his discation allow.
9F. (1) There shall be established a committee to be known BLS the Agricultural Products Scholarship Fund Advisory Committee.
(2) The Committee shall advise the trustee on all matters whatsoever touching the administration of the fund and the attainment of the objects thereof.
(3) The Committee shall consist of→
(a) the trustee;
(3) three other members of the Marketing Advisory Board to be elected annually by the said Board;
(c) twe public officers and two members of the public
to be appointed by the Governor.
(4) The trusted shall be ex officio the chairman of the Committee, but in the event of his absence from any meeting the members present shall appoint any other of its members as chairman,
(5) Four members of the Committee shall form a QUOTUM.
(6) The trustee shall appoint a public officer to be
the secretary to the Committee.
(7) The Committee may regulate its own procedure.”.
6. Section 10 (1) of the principal Ordinance is amended in paragraph Amcodingor of
Of) by deleting "social welfare and education of persons employed therein". and substituting the following-
"education, health and welfare of persons employed in agriculture and agricultural product marketing and their families and dependants".
Passed by the Hong Kong Legislative Council this 15th day of February, 1978.
ба
Clerk to the Legislative Council,
This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bil.
Clerk to the Legislative Council.
No comments yet.
Private notes are available after approval.