Cap. 1007 - Chater Masonic Scholarship Fund Ordinance

To provide for the incorporation of the Trustees of the Chater Masonic Scholarship Fund. [1 November 1929](Format changes—E.R. 4 of 2022) 1. Short title This Ordinance may be cited as the Chater Masonic Scholarship Fund Ordinance. 1A. Object of Chater Masonic Scholarship Fund (1) The objects of the Chater Masonic Scholarship Fund are—(a) to support, advance and promote education and for such purpose to grant endowments and donations to schools and tertiary institutions and to grant to students and persons pursuing studies scholarships, subsidies, bursaries, allowances, loans (whether subject to payment of interest or otherwise) and other forms of assistance (financial or otherwise) as the trustees may at their absolute discretion consider expedient;(b) to support, advance and promote all charitable activities and projects which will in the absolute opinion of the trustees be conducive to the training or education of children and young persons at their leisure times so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of the society;(c) to support and make donations to such institutions or for such purposes or objects for the advancement and promotion of education at such time or times and in such manner as the trustees may in their absolute discretion think fit; and(d) to provide funds and to make or join in the making of any administrative provisions that the trustees may at their absolute discretion deem necessary for the initiation, support, promotion or sponsoring of any projects for the advancement and promotion of education. (Replaced 95 of 1995 s. 2)(2) The scholarships provided under subsection (1) shall be at the University of Hong Kong, The Chinese University of Hong Kong, The Hong Kong Polytechnic University, the City University of Hong Kong, the Hong Kong Baptist University, The Hong Kong University of Science and Technology and other institutions as the trustees may think fit or any seat of higher learning situated outside Hong Kong. (Replaced 24 of 1981 s. 2. Amended 100 of 1994 s. 10; 95 of 1995 s. 2)(Added 72 of 1975 s. 2) 2. Incorporation (1) The trustees of the Chater Masonic Scholarship Fund and their successors in office as hereinafter defined shall be a body corporate, hereinafter called the corporation, and shall have the name of “The Trustees of the Chater Masonic Scholarship Fund”, and in that name shall have perpetual succession and shall and may sue and be sued in all courts in Hong Kong and shall and may have and use a common seal. (Amended 95 of 1995 s. 3)(2) Trustees shall be appointed in accordance with the by-laws of the corporation hereinafter referred to, and shall for the time being be deemed to be successors in office of the first trustees and be members of the corporation upon notice of their appointment, and of the retirement of the retiring trustees (if any) whom they have been appointed to replace, being filed with the Registrar of Companies.(3) Any such notice shall be signed by 2 of the continuing or retiring trustees and shall be sealed with the common seal of the corporation.(Amended 33 of 1939; G.N. 840 of 1940 Supp. Schedule) 3. Powers of corporation (1) The corporation shall have power 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,on such terms as to the corporation may seem fit.(2) The corporation shall have full power to direct the trustees to invest any funds in any investments listed for the time being in Schedule 2 to the Trustee Ordinance (Cap. 29).(Replaced 95 of 1995 s. 4. Amended E.R. 2 of 2014) 4. Power to make by-laws, method of amendment and the certification and deposit thereof (1) The corporation may make by-laws for its internal management and control, and all such by-laws when agreed upon by the corporation shall be binding on every member thereof. (Amended 72 of 1975 s. 3)(2) Amendments to the by-laws shall be made by the trustees in general meeting, and at least 14 clear days’ written notice of the resolution to effect such amendment shall be given to each of the trustees present in Hong Kong at the time. (Amended 95 of 1995 s. 5)(3) A copy of the by-laws certified as correct by 2 of the trustees and sealed with the common seal of the corporation shall be deposited and filed with the Registrar of Companies, and whenever such by-laws are altered a copy thereof as altered and certified as aforesaid shall also be forthwith deposited and filed with the said Registrar. (Amended 33 of 1939; G.N. 840 of 1940 Supp. Schedule) 5. Execution of documents All deeds and other instruments requiring the corporate seal of the corporation shall be sealed in the presence of 2 of the trustees and shall be signed by 2 of the trustees. 6. 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.(Amended 55 of 2000 s. 3)