1964_SAILORS_HOME_AND_MISSIONS_TO_SEAMEN_REGULATIONS — Page 5

HK Historical Laws 香港歷史法例 All AI Reviewed
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1985 Ed.]

Sailors Home and Missions to Seamen Regulations

[CAP. 1042

A 5

21. All subscriptions and pecuniary donations and the income of investments and all other moneys from time to time forming part of the general funds of the corporation shall on receipt thereof be paid to the credit of the corporation with its bankers.

22. All capital moneys shall be paid into a separate account with the bankers of the corporation and shall be expended first on the cost of building the institute and as to the balance towards forming an endowment fund which shall be invested and controlled by the committee and used in any way it thinks fit for the benefit of the institute.

23. Cheques shall be drawn on the order of the committee and shall be signed by the chartered accountants and counter-signed by 2 members of the committee.

[Subsidiary]

Duty to pay moneys into bank account.

Payment of capital moneys and the use thereof.

Method of drawing and signing cheques.

INVESTMENTS

24. All moneys standing to the credit of the endowment fund shall be invested by the committee in the corporate name of the corporation or in the names of its nominees in the investments authorized in the Ordinance and any such investments may be sold and the proceeds thereof invested in other such investments as and when the committee may direct.

Investment of endowment fund.

LN51/90

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1985 Ed.] Sailors Home and Missions to Seamen Regulations [CAP. 1042 A 5 21. All subscriptions and pecuniary donations and the income of investments and all other moneys from time to time forming part of the general funds of the corporation shall on receipt thereof be paid to the credit of the corporation with its bankers. 22. All capital moneys shall be paid into a separate account with the bankers of the corporation and shall be expended first on the cost of building the institute and as to the balance towards forming an endowment fund which shall be invested and controlled by the committee and used in any way it thinks fit for the benefit of the institute. 23. Cheques shall be drawn on the order of the committee and shall be signed by the chartered accountants and counter-signed by 2 members of the committee. [Subsidiary] Duty to pay moneys into bank account. Payment of capital moneys and the use thereof. Method of drawing and signing cheques. INVESTMENTS 24. All moneys standing to the credit of the endowment fund shall be invested by the committee in the corporate name of the corporation or in the names of its nominees in the investments authorized in the Ordinance and any such investments may be sold and the proceeds thereof invested in other such investments as and when the committee may direct. Investment of endowment fund. LN51/90
Baseline (Original)
1985 Ed.] Sailors Home and Missions to Seamen Regulations [CAP. 1042 A 5 21. All subscriptions and pecuniary donations and the income of investments and all other moneys from time to time forming part of the general funds of the corporation shall on receipt thereof be paid to the credit of the corporation with its bankers. 22. All capital moneys shall be paid into a separate account with the bankers of the corporation and shall be expended first on the cost of building the finstitute and as to the balance towards forming an endowment fund which shall be invested and controlled by the committee and used in any way it thinks fit for the benefit of the institute. 23. Cheques shall be drawn on the order of the committee and shall be signed by the chartered accountants and counter-signed by 2 members of the committee. [Subsidiary] Duty to pay moneys into bank account. Payment of capital moneys and the use thereof. Method of drawing and signing cheques. INVESTMENTS 24. All moneys standing to the credit of the endowment fund shall be invested by the committee in the corporate name of the corporation or in the names/of its nominees in the investments authorized in the Ordinance and any such investments may be sold and the proceeds thereof invested in other such investments as and when the committee may dire direct. Investment of endowment fund. LN51/90
2026-05-05 11:06:04 · Baseline
View content

1985 Ed.]

Sailors Home and Missions to Seamen Regulations

[CAP. 1042

A 5

21. All subscriptions and pecuniary donations and the income of investments and all other moneys from time to time forming part of the general funds of the corporation shall on receipt thereof be paid to the credit of the corporation with its bankers.

22. All capital moneys shall be paid into a separate account with the bankers of the corporation and shall be expended first on the cost of building the finstitute and as to the balance towards forming an endowment fund which shall be invested and controlled by the committee and used in any way it thinks fit for the benefit of the institute.

23. Cheques shall be drawn on the order of the committee and shall be signed by the chartered accountants and counter-signed by 2 members of the committee.

[Subsidiary]

Duty to pay moneys into bank account.

Payment of capital moneys and the use thereof.

Method of drawing and signing cheques.

INVESTMENTS

24. All moneys standing to the credit of the endowment fund shall be invested by the committee in the corporate name of the corporation or in the names/of its nominees in the investments authorized in the Ordinance and any such investments may be sold and the proceeds thereof invested in other such investments as and when the committee may dire

direct.

Investment of endowment fund.

LN51/90

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