CO129-577-8 Junior Clerical Service- petition for improvements in salaries and conditions of service 6-7-1939 - 19-12-1939 — Page 124

Recital

Administration

Eligibility

(1)

REGULATIONS

as to

Taikoo Long Service Fund

The Fund will be styled the TAIKOO LONG SERVICE FUND and will consist of sums contributed by Messrs. Butterfield & Swire (John Swire & Sons Limited) the China Navigation Company Limited and such asso- ciated companies or firms as agree to participate in the Fund (hereinafter styled the Employer's) for the benefit of approved members of their Chinese and/or Japanese staffs (hereinafter styled the Beneficiaries). No payments will be made by the Beneficiaries to the Fund.

The Fund shall be administered at Shanghai in the Republic of China and/or at Victoria in the Colony of Hongkong by Trustees who shall be the managers or acting managers of Messrs. Butterfield & Swire in Shanghai and/or Hongkong for the time being, and the entire administration of the Fund will be in the sole discretion of the Trustees. The grants hereinafter referred to will be paid and continued only during the pleasure of the Employers and will be subject to the Employers being satisfied with the diligence, ability and zeal of service rendered by the Beneficiaries.

1. Only such members of the Employers' Chinese and/or Japanese staffs as are approved by the Employers are eligible for participation in the Fund, and the date of admission to the Fund is at the absolute discretion of the Employers.