1964_EDUCATION_SCHOLARSHIPS_FUND_ORDINANCE — Page 9

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CAP. 1085]

Education Scholarships Fund

[1973 Ed.

Future donations to fund.

Postponement of payment of scholarship.

Saving.

Change of conditions of award of scholarship.

14. (1) The Trustee, in accordance with the directions of the committee, may refuse any donation to the fund if it appears to the committee that it would not be convenient or proper to administer the scholarship proposed to be paid out of such donation.

(2) Any future donations to the fund accepted by the Trustee may, at the option of the donor or if he shall not have expressed any wish thereon, at the option of the committee be either-

(a) applied to form part of the general capital whereupon the scholarship payable out of such donation shall be entered in Part II of the Register; or

(b) retained in a separate account whereupon the scholarship payable out of such donation shall be entered in Part III of the Register.

(Amended, 63 of 1973, s. 10)

(3) Notice of any future donations accepted under this section shall be given by the Director by notice published in the Gazette. (Added, 63 of 1973, s. 10)

15. (1) The committee may, in its absolute discretion, decide that in any year there is no person eligible to be a recipient of a scholarship and may direct that no payment is made in respect of that scholarship during that year.

(2) If any scholarship is payable by instalments over a period of more than one year the committee may, in its absolute discretion, cancel the scholarship on the grounds that the person to whom the scholarship was awarded has not made sufficient progress to justify the continuance of payments.

(3) Any moneys remaining unpaid by reason of the provisions of subsection (1) or (2) may be applied by the Trustee at the direction of the committee in the same or any subsequent year to augment future scholarships or to create an additional scholarship under the same conditions of award as attached to the original scholarship.

16. Nothing in this Ordinance shall prevent a person receiving payment in respect of more than one scholarship.

17. (1) If at any time it appears to the Director that it has become impracticable or impossible to apply----

(a) the income from any part of the general capital in payment of any of the scholarships referred to in Parts I and II of the Register; or

(b) the income from the separate capital of a scholarship referred to in Part III of the Register in payment of such scholarship,

the Director may bring such fact to the notice of the committee. (Amended, 63 of 1973, s. 11)

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8 CAP. 1085] Education Scholarships Fund [1973 Ed. Future donations to fund. Postponement of payment of scholarship. Saving. Change of conditions of award of scholarship. 14. (1) The Trustee, in accordance with the directions of the committee, may refuse any donation to the fund if it appears to the committee that it would not be convenient or proper to administer the scholarship proposed to be paid out of such donation. (2) Any future donations to the fund accepted by the Trustee may, at the option of the donor or if he shall not have expressed any wish thereon, at the option of the committee be either- (a) applied to form part of the general capital whereupon the scholarship payable out of such donation shall be entered in Part II of the Register; or (b) retained in a separate account whereupon the scholarship payable out of such donation shall be entered in Part III of the Register. (Amended, 63 of 1973, s. 10) (3) Notice of any future donations accepted under this section shall be given by the Director by notice published in the Gazette. (Added, 63 of 1973, s. 10) 15. (1) The committee may, in its absolute discretion, decide that in any year there is no person eligible to be a recipient of a scholarship and may direct that no payment is made in respect of that scholarship during that year. (2) If any scholarship is payable by instalments over a period of more than one year the committee may, in its absolute discretion, cancel the scholarship on the grounds that the person to whom the scholarship was awarded has not made sufficient progress to justify the continuance of payments. (3) Any moneys remaining unpaid by reason of the provisions of subsection (1) or (2) may be applied by the Trustee at the direction of the committee in the same or any subsequent year to augment future scholarships or to create an additional scholarship under the same conditions of award as attached to the original scholarship. 16. Nothing in this Ordinance shall prevent a person receiving payment in respect of more than one scholarship. 17. (1) If at any time it appears to the Director that it has become impracticable or impossible to apply---- (a) the income from any part of the general capital in payment of any of the scholarships referred to in Parts I and II of the Register; or (b) the income from the separate capital of a scholarship referred to in Part III of the Register in payment of such scholarship, the Director may bring such fact to the notice of the committee. (Amended, 63 of 1973, s. 11)

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8 CAP. 1085] Education Scholarships Fund [1973 Ed. Future donations to fund. Postponement of payment of scholarship. Saving. Change of conditions of award of scholarship. 14. (1) The Trustee, in accordance with the directions of the committee, may refuse any donation to the fund if it appears to the committee that it would not be convenient or proper to administer the scholarship proposed to be paid out of such donation. (2) Any future donations to the fund accepted by the Trustee may, at the option of the donor or if he shall not have expressed any wish thereon, at the option of the committee be either- 3 (a) applied to form part of the general capital whereupon the scholarship payable out of such donation shall be entered in Part II of the Register; or (b) retained in a separate account whereupon the scholarship payable out of such donation shall be entered in Part III of the Register. (Amended, 63 of 1973, s. 10) (3) Notice of any future donations accepted under this section shall be given by the Director by notice publishëd in the Gazette. (Added, 63 of 1973, s. 10) 15. (1) The committee may, in its absolute discretion, decide that in any year there is no person eligible to be a recipient of a scholarship and may direct that no payment is made in respect of that scholarship during that year. (2) If any scholarship is payable by instalments over a period of more than one year the committee may, in its absolute discretion, cancel the scholarship on the grounds that the person to whom the scholarship was awarded has not made sufficient progress to justify the continuance of payments. (3) Any moneys remaining unpaid by reason of the provisions of subsection (1) or (2) may be applied by the Trustee at the direction of the committee in the same or any subsequent year to augment future scholarships or to create an additional scholarship under the same conditions of award as attached to the original scholarship. 16. Nothing in this Ordinance shall prevent a person receiving payment in respect of more than one scholarship. 17. (1) If at any time it appears to the Director that it has become impracticable or impossible to apply---- (a) the income from any part of the general capital in payment of any of the scholarships referred to in Parts I and II of the Register; or (b) the income from the separate capital of a scholarship referred to in Part III of the Register in payment of such scholarship, the Director may bring such fact to the notice of the committee. (Amended, 63 of 1973, s. 11)

2026-05-04 15:25:16 · Baseline

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