CO129-625-3 Hong Kong University- rehabilitation (1950) 1-1-1950 - 31-1-1951 — Page 57

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UNIVERSITY OF HONG KONG

The Hon. the Colonial Secretary,

The Colonial Secretariat, Hong Kong.

25th October, 1950.

57

Sir,

I have the honour to refer to your 2220/45 of the 1st September, 1950, concerning the COLONIAL DEVELOPMENT and WELFARE GRANTS.

2.

After discussion with both the Financial Secretary and the University Treasurer, we feel that the best method would be to accept your suggestion and apply to the Secretary of State for the Colonies for the University of Hong Kong to be recognized as an administrative authority for the purpose of dealing with the Colonial Development and Welfare Grant.

3.

In compliance with the regulations governing grants from the Higher Education Allocation under the Colonial Development and Welfare Act, I beg to submit the following state- ments in reference to paragraph 2 of the procedure for grants for consideration by the Secretary of State for the Colonies in connection with this application:-

(a) (i) As far as financial matters are concerned the Governing

Body of the University is the Council, for Statute 12

of the University Ordinance lays down that the University Council shall have power

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"to govern, manage and regulate the finances, accounts, investments, property, business and all affairs whatsoever of the University and for that purpose to appoint bankers, counsel, solicitors and such other officer or agents as it may be expedient to appoint;"

(ii) The Finance Committee of the Council is provided for

under Section 11(3) of the University Ordinance which states:-

"For the purpose of assisting the Council in financial matters there shall be a Finance Committee which shall consist of such persons as shall be provided by the statutes and without the previous approval of which

....

(a) no expenditure shall be incurred or made by or on behalf of the University;

(b) no moneys belonging to the University shall be invested;

(c) no immovable property shall be dealt with in any manner by or on behalf of the University;

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(a) no money shall be borrowed by or on behalf of the University.

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'i) Statute 13 lays down that the Finance Committee shall

consist of the following:-

the Treasurer of the University, who shall be chairme-

The Hon. Sir Arthur Morse, Kt., G-B Chief Manager of the Hong Kong & Sha

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