CO129-481 - Governor Sir Stubbs - 1923 [8-12] — Page 9

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4.

The Ordinance creates a corporation to which all the German

mission property is transferred or is to be transferred, and by

which it is to be administered. The corporation consists of

5 persons, and the power of appointing successors to the first

members of the corporation is vested in the Governor, the inten-

tion being that all members of the corporation shall be of the

Protestant faith.

5. Section 3 of the Ordinance sets out in what is more or less

common form the general powers of the corporation with regard to

the holding, acquisition and disposal of property. These power's

will of course be exercisable only for the purposes of the trusts

under which the property will be held.

6. Section 4 of the Ordinance vests in the corporation all the

leasehold property formerly vested in the German missions or in

trustees for those missions. Movable property and cash balancea

at present held by the Custodian will be transferred to the cor-

poration under an order of the Governor made under the Trading

with the Enemy Amendment Ordinance, 1919.

7.

In the case of some of the property involved the beneficial pwnership is not entirely clear at the moment, but the beneficial

interests will be respected so far as possible when they are as-

certained. The effect of section 4, taken in conjunction with

the rest of the Ordinance, is merely to vest the legal interest

in the leasehold property in the corporation.

A similar remark

will apply to the property handed over by the Custodian.

8.

Section 5 of the Ordinance deals with the trusts under which

the German mission property is to be held. In the first draft

of the Ordinance an attempt was made to set out the trusts of