H
Enclosure No 3
Legal Supplement No. 1
TO THE
HONG KONG
GOVERNMENT GAZETTE
Published by Authority
FRIDAY, 13 MARCH, 1987
SUP. TO GAZETTE No. 11 VOL. CXXIX
PRINTED AND PUBLISHED BY H. MYERS, GOVERNMENT PRINTER AT THE GOVERNMENT PRINTING DEPARTMENT, HONG KONG
SIR EDWARD YOUDE MEMORIAL FUND
Ord. No. 12/87
SIR EDWARD YOUDE MEMORIAL FUND ORDINANCE 1987
ARRANGEMENT OF SECTIONS
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Section
Page
1.
Short title and commencement
A64
2.
Interpretation
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3.
Establishment of Fund
A64
4.
Trustees
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5.
Seal
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6.
Application and purpose of the Fund
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7.
Board of Trustees' powers
A65
8.
Additional payments from the Fund
A66
9.
Establishment of Council
A66
10.
Council's
's powers
:
A66
11.
Appointments under this Ordinance
A66
12.
Transaction of business by circulation of papers
A66
13.
Application of sections 51 and 52 of the Interpretation and General Clauses
Ordinance ...
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14.
Accounts
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15.
Cost of administering the Fund
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Ord. No. 12/87
SIR EDWARD YOUDE MEMORIAL FUND
HONG KONG
No. 12 OF 1987
I assent.
L.S.
David AKERS-JONES,
Acting Governor.
12 March 1987
An Ordinance to establish a trust fund called the "Sir Edward Youde Memorial Fund" and to provide for the administration thereof and for matters connected therewith.
[1 April 1987]
Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.
Short title and
1. (1) This Ordinance may be cited as the Sir Edward Youde commencement. Memorial Fund Ordinance 1987.
Interpretation.
Establishment of Fund.
(2) This Ordinance shall come into operation on 1 April 1987.
2.
In this Ordinance, unless the context otherwise requires—
"Board of Trustees" means the Board of Trustees of the Sir Edward Youde
Memorial Fund established under section 4;
"Council" means the Sir Edward Youde Memorial Fund Council estab-
lished under section 9;
"Fund" means the Sir Edward Youde Memorial Fund established under
section 3.
3. (1) There is established a fund to be known as the "Sir Edward Youde Memorial Fund".
(2) The Fund shall consist of—
(a) the moneys and assets donated, subscribed or bequeathed before the commencement of this Ordinance in anticipation of the establishment of the Fund together with any moneys earned therefrom;
SIR EDWARD YOUDE MEMORIAL FUND
Ord. No. 12/87
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(b) such further moneys and assets as may, on or after the commence- ment of this Ordinance, be donated, subscribed or bequeathed to and accepted by, or otherwise acquired by the Board of Trustees for the Fund; and
(c) any income of the Fund accumulated under section 7(d).
4.
(1) There is established a body corporate with perpetual succes- Trustees. sion to be known as the "Board of Trustees of the Sir Edward Youde Memorial Fund" which may, in that name, sue and be sued.
(2) The Board of Trustees shall be the trustee of the Fund.
(3) The Board of Trustees shall consist of
(a) a Chairman appointed by the Governor;
(b) the Secretary for District Administation, or his representative, as
ex officio member; and
(c) 3 other members appointed by the Governor.
(4) The first members appointed under subsection (3)(c) shall include Lady Youde, widow of Sir Edward Youde.
5.
The Board of Trustees shall have a common seal, and the affixing Seal. of the seal shall-
(a) be authorized or ratified by resolution of the Board of Trustees;
and
(b) be authenticated by the signature of any 2 members of the Board of Trustees, authorized by the Board of Trustees either generally or specially to act for that purpose.
6.
The Board of Trustees shall hold the Fund upon trust to apply the Application and income of the same in such manner, to such extent and subject to such purpose of the conditions as the Council may determine for the general purpose of Fund. providing for and encouraging the education or learning of, or research by, the people of Hong Kong and, in particular, for making grants, or loans with or without interest-
(a) for the furtherance of education, learning or research within or
without Hong Kong; and
(b) to educational institutions within Hong Kong for the furtherance
of education, learning or research.
7.
The Board of Trustees may——
(a) invest any moneys of the Fund in such investments as it thinks fit whether or not such investments are in Hong Kong or are authorized by section 4 of the Trustee Ordinance;
(b) employ any professional person or financial institution to advise it on any matter arising out of or in connexion with its functions under this Ordinance;
(c) borrow money in such manner, on such terms and against such
security as it thinks expedient; and
Board of
Trustees'
powers.
(Cap. 29.)
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