TNAG-1807-FCO40-2568-Hong-Kong-pollution-control-Noise-Control-Ordinance-1988-(N-1988 — Page 158

A484

Ord. No. 74/88

Duties and powers of Council

Appointment of committees

Employment of assistants and advisers

QUEEN ELIZABETH FOUNDATION FOR THE MENTALLY HANDICAPPED

(b) the Secretary for District Administration, or his representative; (c) the Commissioner for Rehabilitation, or his representative;

(d) a member nominated by the Royal Hong Kong Jockey Club and

appointed by the Governor; and

(e) not less than 5 nor more than 9 other members appointed by the

Governor.

6. (1) Subject to this Ordinance, the Council, in the name and on behalf of the Foundation-

(a) shall apply Foundation income and may apply Foundation assets for carrying out the purpose of the Foundation as described in section 3(2); and

(b) shall determine and perform all matters relating to the application of that income and those assets and the carrying out of that purpose.

(2) In performing its duties under subsection (1), the Council may apply all Foundation income and all the Foundation assets except that-

(a) sufficient income shall be reserved in each financial year to make payments under sections 9 and 14(b) in respect of that financial year;

(b) a sum of $81 million (being 90 per cent of the value of the Foundation assets described in section 3(4)(a) and (b)) shall be reserved for investment in accordance with subsection (3)(a). (3) The Council may, in the name and on behalf of the Foundation- (a) invest the Foundation assets in such investments as the Council

thinks fit;

(b) convert into money any Foundation assets not acquired in the

form of money;

(c) borrow money in such manner, on such terms and against such

security as the Council thinks expedient;

(d) accumulate Foundation income not applied under subsection (2)

or paid under section 9 or 14(b).

7. (1) The Council may by resolution establish one or more committees to advise it on all or any of its functions under this Ordinance and may appoint persons to be members of such committees.

(2) A person may be appointed to be a member of a committee whether or not he is a member of the Council.

(3) Subject to section 11 and to any direction given by the Council, every committee may regulate its own procedure.

8. The Council may, in the name and on behalf of the Foundation, employ-

(a) one or more persons to assist it in the performance of its functions;

and