CO129-627-3 Housing project- contains drawings 1-2-1951 - 31-10-1951 — Page 13

Vesting of

property.

Members.

2

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(g) to enter into any agreement and engage any contractor

or other agent; and

(h) generally to do such other things as may appear to

incidental or conducive to the aims and objects of the Corporation as provided by its constitution, or the pur- poses aforesaid or any of them.

5. The land, buildings, messuages and tenements in the Colony belonging or purporting to belong to the unincorporated Hong Kong Housing Society, and all moneys, securities for money, goods, chattels, and effects whatsoever the property of the unincorporated Hong Kong Housing Society or purporting so to be are hereby transferred to and vested in the Corporation, but subject as regards the said land, buildings, messuages and tenements, to the payment of the rents and observance and performance of all the covenants, conditions, and reservations contained in the Crown Lease under which the same respectively held.

are

6. The Corporation shall consist of such members as provided by its constitution.

Existing

7. All the existing members of the unincorporated Hong members to Kong Housing Society at the date of the passing of this Ordinance members. shall be the first members of the Corporation.

become

Existing constitu-

8. The existing constitution of the unincorporated Hong Kong Housing Society shall be the constitution of the Corporation, but the same may be changed or amended by the Corporation at any time and from time to time in accordance with the provisions corporation. of the constitution for the time being in force.

tion to become constitu- tion of

Filing of Constitu- tion and names of executive members.

Registra- tion fee.

9. A copy of the constitution of the Corporation and of any amendment thereto, and a list of the names and addresses of the

and of any amendment members of the executive committee of the Corporation to the there to time being, certified in each case as correct by the chairman of the executive committee or by the secretary of the Corporation, shall be forwarded to the Registrar of Companies for registration.

10. The Corporation shall pay such fee for registering any document with any public registry as may be payable under any enactment relating thereto.

Inspection 11. Any person may inspect any of the documents registered and search by the Corporation in pursuance of section 9 hereof, upon payment of such fee as may be payable under any enactment relating thereto.

fee.

12. All deeds documents and other instruments requiring the Sealing of seal of the Corporation shall be signed by the chairman of the deeds.

cutive committee and the secretary of the Corporation or by such other person or persons as the executive committee shall from time to time appoint and such signing shall be taken as sufficient evidence of the due sealing of such deeds, documents and other instruments.

13. Nothing in this Ordinance shall affect or be deemed to Saving. affect the rights of His Majesty the King, His Heirs and Successors, or the rights of any body politic or corporate or of any other person except such as are mentioned in this Ordinance and those claiming by, from or under them.

I.

Objects and Reasons.

The object of this Bill is to incorporate The Hong Kong Housing Society.

2.

The Society has existed since April, 1948 as a purely social welfare and non-profit making body. Its aims and objects are to provide, found, secure, promote, encourage and operate housing and its associated amenities on such economic basis as is suitable for persons of small income in the Colony of Hong Kong.

3. It is provided by the Constitution of the Society that the income and property of the Society, whencesoever derived, shall be applied solely towards the promotion of the aims and objects of the Society as set forth herein; and no portion thereof shall be paid or transferred, directly or indirectly by way of dividend, bonus or otherwise howsoever by way of profit, to the members of the Society, but there is nothing therein provided which prevents the payment, in good faith, of remuneration to any officer or servant of the Society, or to any member of the Society in return for any services actually rendered to the Society, or the payment of interest at a rate not exceeding the current rate chargeable by bankers in the Colony on money lent, or reasonable and proper rent for premises demised or let by any member to the Society.

4.

It is also provided in the Constitution of the Society that

in the event of its winding up, its assets, if any, after the satisfac- tion of all its debts and liabilities, shall not be paid to or distributed

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