Cap. 1034 - Masonic Benevolence Fund Incorporation Ordinance

To provide for the incorporation of the trustees of the Hong Kong and Far East Masonic Benevolence Fund. (Amended 48 of 1978 s. 2)[2 August 1893](Format changes—E.R. 2 of 2023) 1. Short title This Ordinance may be cited as the Masonic Benevolence Fund Incorporation Ordinance.(Amended 50 of 1911; 1 of 1912 Schedule; 5 of 1924 s. 6) 2. Interpretation In this Ordinance, unless the context otherwise requires—custodian trustee (保管受託人) means the custodian trustee appointed in accordance with section 5.(Added 19 of 1966 s. 2) 3. Incorporation of trustees of Hong Kong and Far East Masonic Benevolence Fund (1) The trustees of the Hong Kong and Far East Masonic Benevolence Fund, who have been certified as such on behalf of the corporation by a statutory declaration made by the secretary and filed with the Registrar of Companies, shall be a body corporate, hereinafter called the corporation, and shall have the name of “The Hong Kong and Far East Masonic Benevolence Fund Corporation”, and by that name shall have perpetual succession, and shall and may sue and be sued in all courts, and shall and may have and use a common seal. (Amended 50 of 1911; 51 of 1911; 1 of 1912 Schedule; 2 of 1912 Schedule; 48 of 1978 s. 3)(2)-(4) (Repealed 94 of 1995 s. 2)(5) The custodian trustee may invest in its name or under its control in such manner as the custodian trustee thinks fit or in the name of any limited liability company or corporation as nominee or nominees of the custodian trustee and any such investments or property as aforesaid or any other property subject to the trusts hereof may remain for any period however long in the name or names of such nominee or nominees at the sole discretion of the custodian trustee. (Replaced 19 of 1966 s. 3)(6) (Repealed 94 of 1995 s. 2)(7) The custodian trustee shall be deemed to have all powers required to give effect to any direction made by the corporation under this section as though the custodian trustee were the absolute owner of the funds vested in the custodian trustee: Provided that all deeds and other instruments requiring the seal of the corporation shall be sealed and signed as provided in section 4. (Added 19 of 1966 s. 3)(8) The corporation shall have full power and shall be deemed to always have had, to direct the custodian trustee to—(a) acquire, accept leases of, purchase, take, hold, and enjoy any lands, buildings, messuages, or tenements in Hong Kong or elsewhere;(b) accept mortgages of any lands, buildings, messuages, or tenements in Hong Kong or elsewhere;(c) invest moneys on deposit in any bank in Hong Kong or elsewhere;(d) purchase such stocks, funds, shares or other investments or property of whatever nature and wherever situated in addition but not limited to the purchase of stocks, funds, shares or other investments or property provided for the time being in Schedule 2 to the Trustee Ordinance (Cap. 29);(e) sell, convey, assign, reassign, transfer, surrender and yield up all or any of the above investments, or to reinvest the proceeds thereof in part or in whole in any of such investments;(f) receive and accept gifts, donations, contributions or legacies and to hold or realize the same subject to any conditions attached to such gifts, donations, contributions and legacies;(g) from time to time lend moneys to any person or to any company on a secured or unsecured basis and with or without interest,on such terms as may to the corporation seem fit. (Added 94 of 1995 s. 2)(9) The corporation shall have full power to direct the custodian trustee to invest any funds in any investments listed for the time being in Schedule 2 to the Trustee Ordinance (Cap. 29). (Added 94 of 1995 s. 2)(Amended E.R. 2 of 2014) 4. Execution of deeds, etc. All deeds and other instruments requiring execution by the said corporation shall be sealed with its seal and signed in manner provided by its by-laws.(Amended 51 of 1911; 2 of 1912 Schedule) 5. Appointment of custodian trustee (1) HSBC Trustee (Hong Kong) Limited, shall be, and is hereby appointed, custodian trustee for the corporation to hold all or any property vested in it on behalf of the corporation on trust in accordance with the Trustee Ordinance (Cap. 29), and the appointment of the custodian trustee shall be upon the usual terms and conditions for the time being in force including those governing the right to remuneration in accordance with the published scale of fees or such other scale of fees as may from time to time be agreed between the custodian trustee and the corporation. (Amended 94 of 1995 s. 3; 31 of 2025 s. 230)(2) The corporation may at any time appoint another corporation as custodian trustee in place of the HSBC Trustee (Hong Kong) Limited as to the corporation may seem fit provided that the outgoing trustee is given not less than 3 months prior notice in writing of such appointment. (Added 94 of 1995 s. 3)(Added 19 of 1966 s. 4) 6. Keeping of accounts The corporation shall keep proper books of account with respect to all sums of money received and expended by the corporation and the matters in respect of which the receipt and expenditure takes place and the assets and liabilities of the corporation. The corporation instead of keeping such accounts itself may employ the custodian trustee to keep such accounts and may pay the custodian trustee for such work.(Added 19 of 1966 s. 4) 7. Adoption and making of by-laws, etc. (1) The said corporation may adopt the existing by-laws of the Hong Kong and Far East Masonic Benevolence Fund, so far as they are not inconsistent with this Ordinance, and may (notwithstanding that such existing by-laws provide that alterations therein can be proposed only at the annual meeting therein mentioned) alter the same, or may frame other by-laws for its internal management and control. (Amended 50 of 1911; 1 of 1912 Schedule; 94 of 1995 s. 4)(2) All such by-laws, when agreed upon by the said corporation, shall be binding on every member thereof.(3) A copy of the by-laws, and of any amendment thereof, certified as correct by the secretary, shall be deposited and filed with the Registrar of Companies. (Amended 50 of 1911; 51 of 1911; 1 of 1912 Schedule; 2 of 1912 Schedule) 8. Fees (1) The corporation shall pay such fees for registering any document with any public registry as may be payable under the regulations made under section 26 of the Companies Ordinance (Cap. 622) for the registration with the Registrar of Companies of a document.(2) Any person may inspect any of the documents registered under this section upon payment of such fee as may be payable under the regulations made under section 26 of the Companies Ordinance (Cap. 622) for the inspection of a document.(Replaced 94 of 1995 s. 5. Amended 28 of 2012 ss. 912 & 920) 9. Saving Nothing in this Ordinance shall affect or be deemed to affect the rights of the Central Authorities or the Government of the Hong Kong Special Administrative Region under the Basic Law and other laws, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Ordinance and those claiming by, from or under them.(Replaced 37 of 1950 Schedule. Amended 21 of 2024 s. 78)