RAS-2002 — Page 46

# RESOLUTION

# HONG KONG BRANCH

# OF THE ROYAL ASIATIC SOCIETY ANNUAL GENERAL MEETING OF THE SOCIETY

# MARCH 21ST 2003

At the Annual General Meeting of the Hong Kong Branch of the Royal Asiatic Society, held at the Hong Kong Club, on 21 March 2003, the following Resolution was adopted:

Resolved:

That the Society should, at the earliest opportunity, formally establish a Scholarship Fund, as a legal entity separate from the general funds of the Society, to allow the Society to make grants and disburse money for the purpose of sponsoring research in the field of Hong Kong studies, and of assisting publication of books in this field, subject to the Rules for the control and disbursement of such a Fund being agreed by Members, those Rules to include provision for the establishment of a Management Board to oversee the Fund, and for the Annual General Meeting of the Society to see and agree the audited accounts of the Fund year by year.

That the Hon. Treasurer of the Society be appointed Hon. Treasurer of the Scholarship Fund as well as Hon. Treasurer of the Society.

That the Society should, for the future, keep a cash reserve approximately equal to one year's routine expenditure, as assessed by the Hon. Treasurer of the Society.

That the present cash reserves of the Society being approximately HK$400,000 greater than one year's routine expenditure, HK$350,000 should be transferred from the general funds of the Society as soon as a Scholarship Fund has been formally and separately established into a Foundation Fund, so that the income from this sum so transferred can be devoted to the purposes of the Fund, subject to the sum transferred being kept as a Capital Sum, not to be spent, but only to be used for the purposes of generating income for the Fund.

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