310072-1941-Supplementary-Advertisements — Page 3

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property to

6.-(1) All moneys forming part of the Chater (Cathe- Transfer of dral) Endowment Fund and the Chater (St. Andrew's Church) Corporation, Endowment Fund respectively invested in the name of the Trustees of the said Funds in loans issued by the Hongkong Government and by the Government of the United Kingdom and moneys placed on fixed deposit or current account with the Hongkong and Shanghai Banking Corporation in the names of the Trustees of the said Funds are hereby transferred to and vested in the said Corporation.

(2) The benefits of the Trustees of the Chater (Cathedral) Endowment Fund as Mortgagees (in possession and otherwise) of and in The Remaining Portion and Subsections 1, 4, 5, 8, 9, 12 and 13 of Section C of Marine Lot No. 239 and all the estates rights titles and interests of the Trustees of the Chater (Cathedral) Endowment Fund in and to the said properties as such Mortgagees as aforesaid are hereby transferred to and vested in the said Corporation.

(3) The benefits of the Trustees of the Chater (St. Andrew's Church) Endowment Fund as Mortgagees of and in Subsection 1 of Section A of Marine Lot No. 267, Subsection 1 of Section B of Marine Lot No. 267 and Kowloon Inland Lots Nos. 3499, 3803 and 3804 and all the estates rights titles and interests of the Trustees of the Chater (St. Andrew's Church) Endowment Fund in and to the said properties as such Mortgagees as aforesaid are hereby transferred to and vested in the said Corporation.

7. Nothing in this Ordinance shall affect or be deemed to affect the rights of His Majesty His Heirs or 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.

Saving of Crown and of certain

the rights of

other

persons.

Objects and Reasons.

(1) The late Sir C. P. Chater Kt., C.M.G. during his life established two trust funds the income of which was to be applied in assisting in the maintenance of St. John's Cathedral Church and St. Andrew's Church in the Colony and in aug- menting the stipends of the Clergy for the time being holding the respective offices of Chaplain or Assistant Chaplain of the Cathedral and incumbent or curate of St. Andrew's Church.

(2) These two funds have been administered by Trustees.

(3) In order to secure perpetual succession and the other advantages of incorporation it is proposed to incorporate the Trustees under the title of "The Trustees of the Chater (Cathedral and St. Andrew's) Endowment Funds".

(4) The bill now proposed follows the general form of other incorporating Ordinances passed from time to time.