MORRISON SCHOLARSHIPS FUND INCORPORATION ORDINANCE

MORRISON SCHOLARSHIPS FUND INCORPORATION ORDINANCE

CHAPTER 300.

MORRISON SCHOLARSHIPS FUND
INCORPORATION.
To incorporote a body of trustees capable of holding
Properly and empowered to administer a trust fund
known as the iWorrison Scholarships Trust Fund for
the purpose of providing scholarships at Queen's
College in this Colony.

[9th November, 1934.]

WHEREAS at a meeting of a society known as the Morrison
Education Society on the 18th day of March, 1873, it
was agreed, and at a further meeting of the said Society
held on the 24th day of April, 1873, it was confirmed,
that three thousand dollars of the monies of the Society
'should be funded for the purpose of endowing a
scholarship, to be known as the Morrison Scholarship,
at the Central School upon conditions to be drawn up
by the Headmaster of the Central School, the Minister
for the time being of the Union Church and the senior
resident Missionary of the London Missionary Society,
and that, in the event of discontinuance of the Central
School or other circumstances inaking it advisable, the
disposition of the principal should be with the three
gentlemen above named- :
AND WHEREAS the said fund has now appreciated through
investments and further contributions to a capital value
of over fifty thousand dollars, and provides an income
of nearly two thousand dollars per annuin out of which
five Morrison Scholarships are endowed and maintained
at Queen's College in this Colony :
AND WHEREAS doubts have arisen as to the legal position
of the persons now administering the said fund as
trustees thereof, and it is deemed expedient that the
fund should be vested in an incorporated body which
may administer the same for the purpose of endowing
and maintaining such scholarships

1. This Ordinance may be cited as the Morrison
Scholarships Fund Incorporation Ordinance.





2. (1) There shall be a body of trustees which,
subject to the other provisions of this Ordinance, shall
consist of-
(a) the Headmaster of Queen's College, Hong Kong;
(b)the Senior Missionary in Hong Eong of the
London Missionary Society;
(c) the minister of the Union Church, Hong Kong,
and their successors in office for the time being.

(2) In the event of the absence from the Colony of
any trustee the person temporarily fulfilling his duties shall
aet as a trustee during his absence.

(3) No act or decision of the trustees shall be valid
unless approved by two trustees.

(4) If any act be done or discretion be exercised by
the majority of the trustees, or if any instrument be
executed in pursuance thereof, no such act, discretion or
instrument shall be questioned on the ground that the other
trustee did not concur or Join therein, or objected thereto.

3. (1) Any change in the persons constituting the
trustees under subsection (I) Of section 2 shall be notified
to the Colonial Secretary and published by him in the
Gazette.

(2) No such change shall be deemed to have been made
unless it shall have been so published in the Gazette.

(3) The production of a copy of the Gazette containing
any such notification shall be Prima facie evidence as to the
constitution of the trustees.

(4) The trustees shall when required by the Covernor
furnish to him satisfactory proof of the succession of any
new trustee.

4. The trustees shall be a body corporate, hereinafter
called the corporation, under the name of 'The Trustees of
the Morrison Scholarships Fund' 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 and may break, change, alter and make anew the said
seal.

5. (1) Subject to the provisions of subsection (2) the
corporation shall have power to acquire, accept leases of,





purchase, take, hold and enjoy any lands, buildings,
messuages or tenements of what nature and kind soever and
wheresoever situate, and also to invest moneys upon mort-
gage of any lands, buildings, messuages or tenements, or
upon bankers' fixed deposits, or upon the mortgages,
debentures, stocks, funds, shares or securities of any govern-
ment, municipality, corporation or company, and also to
purchase, acquire, and possess goods and chattels of what
nature or kind soever, for the purpose of endowing and main-
taining scholarships, to be known as Yforrison Scholarships,
in Queen's College, Hong Kong.

(2) Notwithstanding the provisions of subsection (i) the
corporation shall not acquire by lease or purchase any
immovable property in the Colony unless it shall previously
have obtained the special consent of the Governor in Council
in each case.

(3) The corporation shall further have power by deed
or writing under their common seal to grant, sell, convey,
assign, surrender, yield up, mortgage, demise, reconvey
reassign, transfer or otherwise dispose of or deal with any
lands, buildings, messuages, tenements, goods and chattels
or other property which are for the time being vested in
belonging to the corporation, upon such terms as to the
trustees may seem fit: Provided that nothing in this section
shall be construed so as to authorize any breach of trust on
the part of the trustees.

(4) All deeds and other documents requiring the seal of
the corporation shall be sealed with such seal in the presence
of the Headmaster of Queen's College and shall be signed
by him.

6. All those stocks or shares of Hong Kong companies
which are at present registered in the narne of the trustees
of the Morrison Scholarship Fund or other like name, and all
moneys deposited in any bank in the name of the said fund,
are hereby transferred to and vested in the corporation.

7. (1) The corporation may from time to time with
the approval of the Governor in Council frarne, and from
time to time with the approval of the Governor in Council
alter, by-laws for its internal management and control, and
all such by-laws when so approved as aforesaid and agreed





upon by the corporation shall be binding on every member
thereof.

(2) Amendments to the by-laws shall be made by the
trustees in general meeting and at least fourteen clear days
notice in writing of any resolution to effect any such amond-
rnent shall be given to each of the trustees.

(3) A copy of the by-laws certified as correct by two
of the trustees and sealed with the common seal or the
corporation shall be deposited and filed with the Registrar
of Companies, and wheriever such by-laws are altered a copy
thereof as altered, certified as aforesaid, shall also be forth-
with deposited and filed with the said Registrar.

(4) The first by-laws shall be those contained in the
Schedule.

8. Nothing in this Ordinance shall affect or be deenied
to affect the rights of His Majesty the King, His Heirs or
Successors, 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.

SCHEDULE.

MORRISON SCHOLARSHIPS FUND BY-LAWS.
(Cap. 300, section 7.)
(Ordinance No. 39 of 1934.)

[9th November, 1934.]

Constitution.
1. The Fund shall be known as 'The Morrison Scholarships
Fund'.
2. The Fund shall consist of the fund in the hands of the
trustees at the commencement of this Ordinance, and the property,
moneys and investments for the time being and from time to time
representing the same, including any contributions, additions and
accumulations thereto as may be made or accrue.

Object.
3. The object of the Fund is to provide and endow scholarships
for boys at Queen's College, Hong Kong, without distinction of class
or nationality.





Government.
4. The government of the Fund shall be in the hands of the
trustees, of whom the Headmaster of Queen's College for the time
being shall be the chairman.
5. The chairman shall at the same time discharge the duties of
honorary secretary and honorary treasurer, and shall collect all sums
due to the corporation and keep an accurate account of all moneys
received and disbursed to be presented at each meeting.

6. The trustees shall also appoint one or more auditors, not
necessarily auditors by profession, who shall not be trustees, to audit
the accounts and present a statement at the annual meeting.

Funds.
7. All contributions to the Fund shall be paid to the honorary
treasurer and shall by him be placed to the credit of the corporation
in a local bank or invested as the trustees may deem advisable.

8. No payment on account of the corporation shall be made
without the order of the trustees, payment on petty cash account
excepted, for which purpose the trustees may place such sum as
they think fit at the disposal of the honorary treasurer, who shall
furnish a correct account of all such payments at each meeting of
the trustees. All cheques shall be signed by one trustee and the
honorary treasurer.

Scholarships.
9. The number of scholarships granted and the value of each,
and the conditions and period on and for which any such scholarship
is granted or may be renewed, shall be in the entire discretion of the
trustees.

Meetings.
10. The annual meeting of the trustees shall be held not later
than the month of May in every year, when the report of the trusteel
and the audited statement of accounts made up to the 31st day of
December of the previous year shall be presented and passed, and
any business of the previous year discussed. Emergency meetings
may be called at any time by the chairman or on the request of any
trustee.
11. At all meetings two trustees shall form a quorum.
39 of 1934. 37 of 1950. Short title. The trustees and their proceedings and acts. Notification of change in trustees. 37 of 1950, Schedule. Incorporation and general powers of the trustees. Power to acquire property. Power to dispose of property. Use of seal. Vesting of certain property. By-laws. [s. 7 cont.] Schedule. Saving. By-laws-Ord. 39/34, Schedule.

39 of 1934. 37 of 1950. Short title. The trustees and their proceedings and acts. Notification of change in trustees. 37 of 1950, Schedule. Incorporation and general powers of the trustees. Power to acquire property. Power to dispose of property. Use of seal. Vesting of certain property. By-laws. [s. 7 cont.] Schedule. Saving. By-laws-Ord. 39/34, Schedule.

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