CO129-291 - Governor Sir Blake - 1899 [5-6] — Page 33

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(7)

subject to the provisions Section 35 hereof.

public officer so admitted to contribute to the fund shall be titled-to- se-semo privileges and shall be subject to the same conditione in respect of the fund be are all-other- -contributorur

5. All moneys belonging to the fund, whether arising Investment of from past or future contributions, fines, interest, or other- fund. wise, shall be invested with the Government of this Colony, Ibid, s. 13.] and shall bear interest payable by the said Government during the continuance of the fund, at the rate of six per centum per annum free from any deduction, and such interest shall be made up on the thirty-first day of December in each year, and shall be calculated upon the mean monthly balance standing in the hands of the Treasurer to the credit of such fund during the course of the year.

6.- (1.) For the due and proper management of the fund Appointment the Governor, with the advice of the Executive Council, of directors, shall appoint any number of public officers, not exceeding lid, su

and 7.] five, as directors thereof.

(2.) It shall be lawful for the Governor, with the advice Cancellation of the Executive Council, to cancel and annul the appoint- of auch

appointment. ment of any person appointed to be a director, and upon' notification thereof in the Government Gazette such person shall cease to be a director, and shall cease to have and exercise the powers of a director,

(3.) In the event of the death of a director, or in the event Substitution of the absence from the Colony of a director, or in the of director. event of the cancellation and revocation of the appoint- ment of any director, the Governor, with the advice of the Executive Council, shall appoint a public officer to be a director in place of the director who shall have died, or shall be absent from the Colony, or whose appointment shall have been cancelled or revoked, and such person so ap-

pointed shall have and exercise all the powers and duties conferred

tapered-in-a director by this Ordinance.

(4.) Thedirectors shall superintend and direct the manage- Management ment and administration of the fund, and shall see that the of fund. laws and regulations relating thereto are duly fulfilled.

(5.) It shall be the duty of the directors annually, on or Aunusl before the thirty-first day of January, to prepare a statement report. and account of the fund for the year ending the thirty-first December preceding, and such statement and account shall

be laid before the Governor and the Legislative Council.

(6.) The Governor may from time to time appoint such Appointment officer or officers as he may consider fit and necessary for of agents, etc. carrying out the provisions of this Ordinance, and all per- sons so appointed shall hold office during the pleasure of the Governor.

(-) The Governor, with the advice of the Executive Pensions to Council, may,ifini

to time prescribe

"the"

him, from time officers

ring pensions employed "under the don this directors. pointed, and the par such

At every meeting of the directors the senior public Meeting of officer present shall preside. Every question shall be decid. directors, ed by the vote of the majority of those directors present at the meeting: provided that if the votes be equally divided the chairman shall have a casting vote in addition to his

vote as director. There shall be no meeting at which there shall not be at the least three directors present and voting.

7. A sum not exceeding five per centum of the annual Cost of man-

contributions to the fund maybe paid by the Treasurer to agement of

fund. the directors for the purpose of defraying all expenses

and imposed

shall

connected with the management and administration of the [Toid, 0.113 Provided that if i

any year any exece fund, provided that no payment shall be made to any di-tional management and rector as salary or remuneration for his own services with administration expense out the consent and approval of the Governor, with the shallarise, it shall be lau

to have

to any a

advice of the Executive Council..

exchen Resource of se

Iprevious

8. The directors may frame rules and regulations not Directors may inconsistent with the provisions of this Ordinance for the make rules five per centur

and regula proper carrying out of the provisions thereof, and such rules tiona. and regulations when approved by the Governor, with the advice of the Executive Council, and published in the Government Gazette, shall be valid and binding upon all persons.

[Ibid, a. 8.] subsequent tot if last valuation:

from salaries

9(1.) From and after the commencement of this Or- Abatement dinance a monthly abatement of four per centum shail be and pensions, made from the salary or pension, as the case may be, of [Ibid, 4. 4.] svery-public officer cxisting contribuitars

to the Sund and of every public officer hereafter appoin and of all members of the Police Force who have atta or shall hereafter attain the rank of Sergeant ar higher rank.