1964_GRNTHAM_SCHOLARSHIPS_FUND_ORDINANCE — Page 4

1985 Ed.]

Grantham Scholarships Fund

[CAP. 1076

3

of-

4. (1) The fund shall be managed by a committee consisting

Home Affairs

Committee of

management.

(a) the Secretary for District Administration, who shall be the LN 262 of 1ppp

chairman of the committee; (Amended, L.N. 67/85)

(b) the Director of Education;

(c) [Deleted, 50 of 1973, s. 2]

(d) the Chairman for the time being of the Tung Wah

Hospital;

(e) the Chairman for the time being of the Po Leung Kuk; and (ƒ) such other members not exceeding 4 as may be appointed

by the Governor.

(2) The persons named in subsection (1)(a) to (c) shall, whilst holding their respective offices, be ex officio members of the com- mittee.

(3) Members appointed by the Governor shall hold office for 3 years from the date of their respective appointments, and may be re-appointed or removed by the Governor at his pleasure.

5. The trustee shall apply the fund, in such manner as the committee may direct, for the promotion and encouragement of local education, and in particular-

(a) for the provision of scholarships and maintenance grants in primary schools, secondary schools and industrial and technical schools in the Colony for persons resident in the Colony and in need of financial assistance for their educa- tion; and

(b) for the provision of scholarships and maintenance grants

for the persons mentioned in paragraph (a) in places of higher education in the Colony.

6. The scholarships and maintenance grants referred to in section 5 shall be awarded, at such intervals and as the result of such examination or other method of selection and in such manner and shall be held and enjoyed for such period and upon and subject to such terms and conditions as shall, from time to time, be prescribed by regulation made by the committee, or in default of such regulation, then as the committee shall determine; and the committee may, at any time, alter or revoke any regulation made under this section, and make new regulations in place thereof.

7. The trustee may invest the moneys of the fund in the name of the trustee in such investments of any kind, including shares in local companies, whether such investments are permitted for the investment of trust funds or not, as the committee may direct; and, in like manner, such investments may at any time be varied.

The trusts.

Intervals, and terms and conditions of awards.

Investments.