192408-1932-Supplementary-Bills-read-a-first-time- — Page 17

Fower

to make

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thereto belonging or usually held occupied or enjoyed therewith, are hereby transferred to and vested in. Corporation for the unexpired residue of the terms of years created by the Crown Leases thereof, subject to the payment of the rent and the performance and observance of the covenants and conditions therein contained.

(2) All property and effects at the time of the coming into operation of this Ordinance belonging to and vested in the Council or the Trustees shall, at the time of the coming into operation of this Ordinance, be transferred to and be and become vested in the Corporation.

(3) On the coming into operation of this Ordinance the Corporation shall become liable for all debts and liabilities of the Council or the Trustees.

7.-(1) The Council may by resolution passed by the regulations. majority of the Council from time to time make such regula- tions as they may at their discretion deem desirable for the administration of the Corporation and the management of the Corporation's premises and property of whatever description.

Saving of the rights of the

Crown and of certain other

persons.

Any regulations made by the Council shall be filed with the Registrar of Companies.

(2) Subject to the exercise of the above powers, the regulations contained in the Schedule hereto shall be in force from the commencement of this Ordinance and shall be deemed to have been made under this Ordinance.

(3) There shall be no obligation on the Council to obtain the approval of the Governor-in-Council to such regulations nor shall it be necessary to publish any such regulations.

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

SCHEDULE

REGULATIONS.

INTERPRETATION.

"The College" means St. Stephen's College carried on by the Corporation.

THE COUNCIL.

1. Members of the Council, other than Members ex officio, shall vacate their office :-

(a) If they fail to attend meetings of the Council for one whole year.

(b) If they cease to reside in Hong Kong or within one hundred miles thereof for six calendar months without leave of the Council.