OCEAN PARK CORPORATION ORDINANCE ORDINANCE

OCEAN PARK CORPORATION ORDINANCE ORDINANCE

LAWS OF HONG KONG

OCEAN PARK CORPORATION
ORDINANCE

CHAPTER 388





CHAPTER 388

OCEAN PARK CORPORATION ORDINANCE

ARRANGEMENT OF SECTIONS

Section ..................................Page
PART I

PRELIMINARY

1. Short title....................... ... ... .... ... ... ... ... ... ... ... 3
2. Interpretation ... ... ... ... ... ... .... ... ... ... ... ... ... ... 3

PART II

ESTABLISHMENT OF THE OCEAN PARK CORPORATION

3. Establishment of the Corporation ... ... ... ... ... ... ... ... ... ... 4
4. Fixing of common seal of the Corporation . ... ... ... ... ... ... ... 4
5. Documents of the Corporation ... ... ... ... . ... ... ... ... ... ... ... 4
6. Certain documents not required to be sealed ... ... .. ... ... ... ... ... 4

PART III

ESTABLISHMENT OF THE 0ARD OF THE CORPORATION

7. Establishment of the Board ... ... ... ... ... ... ... ... ... ... ... ... 4
8. Membership of the Board ... ... ... ... ... ... ... ... ... ... ... ... 5
9. Chairman of the Board ... ... ... ... ... ... ... ... ... ... ... ... 5
10. Proceedings of the Board ... ... ... ... ... ... ... ... ... ... ... ... 5
11. Validity of proceedings ... ... ... ... ... ... ... ... ... ... ... ... ... 6
12. Transaction of business by circulation of papers ... ... ... ... ... ... ... 6

PART IV

CORPORATION To REPLACE THE COMPANY AND RELATED MATTERS

13. Corporation to replace the company ... ... ... ... ... ... ... ... ... ... 6
14. Saving of employees of the company ... ... ... ... ... ... ... ... ... ... 7
15. References in documents to the company ... ... ... ... ... ... ... ... ... 7
16. Dissolution of the company ... ... ... ... ... ... ... ... ... ... ... ... 7

PART V

FUNCTIONS AND POWERS OF THE CORPORATION

17. Functions of the Corporation ... ... ... ... ... ... ... ... ... ... ... 8
18. Powers of the Corporation ... ... ... ... ... ... ... ... ... ... ... 8

PART VI

STAFF OF THE CORPORATION

19. Appointment of Chief Executive and other employees ... ... ... ... ... 9
20. Employment of technical and professional advisers ... ... ... ... ... ... 9
21. Staff benefits ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 9





Section ........................Page
PART VII
COMMITTEES AND DELEGATIONS

22. Creation and functions of committees ...... ... ... ... ... ... ... ... 10
23. Power of Corporation to delegate .......... ... ... ... ... ... ... ... 10
24. Power of Chief Executive to delegate ... ... ... ... ... ... ... ... ... 10

PART VIII

FINANCIAL

25. Power to borrow money .................. ... ... ... ... ... ... ... 11
26. Accounts and statements ................... ... ... ... ... ... ... ... 11
27. Investment of surplus funds ............... ... ... ... ... ... ... ... ... 11
28. Auditors ............................... ... ... ... ... ... ... ... ... 11
29. This Part not to apply to the Fund ..... ... ... ... ... ... ... ... ... 11

PART IX

ESTABLISHMENT OF THE OCEAN PARK TRUST FUND

30. Establishment of the Fund .............. ... ... ... ... ... ... ... ... 12
31. Application of the Fund ................... ... ... ... ... ... ... 12
32. Investment of moneys ...................... ... ... ... ... ... ... ... 12
33. Accounts and statements ................ ... ... ... ... ... ... ... ... 12
34. Fund not to be used as security ........ ... ... ... ... ... ... ... 13
35. Auditors ............................... ... ... ... ... ... ... ... ... 13

PART X

MISCELLANEOUS

36. Corporation not servant or agent of the Crown ... ... ... ... ... ... 13

37. Governor may obtain information ........ ... ... ... .... ... ... ... 13

38. Governor may give directions .............. ... ... ... ... ... ... ... 13

39. By-laws ................................... ... ... ... ... ... ... ... 13





CHAPTER 388

OCEAN PARK CORPORATION

To establish a body corporate to manage and control Ocean Park as a
public recreational and educational park, andfor that purpose to
vest in that body corporate the assets of Ocean Park Limited, to
provide for the establishment and administration of a trustfund,
and to provide for matters incidental thereto or connected
therewith.

[1 July 1987.]

PART I

PRELMINARY

1. This Ordinance may be cited as the Ocean Park Corporation
Ordinance.

2. In this Ordinance, unless the context otherwise requires-

'auditor' means a certified public accountant within the meaning of 1
section 2 of the Professional Accountants Ordinance;

'Board' means the Board of the Ocean Park Corporation established by
section 7(1);

'Chairman' means the Chairman of the Board appointed under section
9 or the Deputy Chairman or any other, member when acting under
that section as the Chairman;

'Chief Executive' means the person appointed under section 19(1) to be
the Chief Executive;

'company' means the company incorporated under the Companies
Ordinance and registered under that Ordinance by the name Ocean
Park Limited;

'contract of employment means a contract of employment or
apprenticeship, whether express or implied and, if express, whether
oral or in writing;

'Corporation' means the Ocean Park Corporation established by
section 3(1);

'employee' means

(a)in relation to the company, a person who works for the
company under a contract of employment; and

(b)in relation to the Corporation, a person who works for the
Corporation under a contract of employment and includes a
person who was, immediately before the commencement of
this Ordinance, a person referred to in paragraph (a);





'financial year' means the period commencing on 1 July each year and
ending on 30 June in the year following and includes the period
commencing on 1 July 1986 and ending on 30 June 1987;

'Fund' means the Ocean Park Trust Fund established by section
30(1);

'member' means a member of the Board referred to in section 8(1);

'Ocean Park' means the public recreational and educational park called
by that name and situate at Brick Hill.

PART 11

ESTABLISHMENT OF THE OCEAN PARK
CORPORATION

3. (1) There is hereby established a body corporate to be called the
Ocean Park Corporation.

(2) The Corporation shall have perpetual succession and a
common seal and shall be capable of suing and being sued.

4. The fixing of the seal of the Corporation shall. be-

(a) authorized by the Corporation; and

(b) authenticated by the signatures of any 2 members authorized
by the Corporation, either generally or specifically, to act for
the purpose.

5. (1) The Corporation 'may make and execute any
document in the performance or exercise of its functions or powers
or in connexion with any matter reasonably incidental to or
consequential upon the performance or exercise of its functions or
powers.

(2) Any document purporting to be duly executed under the seal of
the Corporation shall be admitted in evidence and shall, unless the
contrary is proved, be deemed to have been duly executed.

6. Any contract or instrument which, if entered into or executed
by a person not being a body corporate, would not be required to be
under seal may be entered into or executed on behalf of the Corporation
by any person generally or specifically authorized by the Corporation
for that purpose.

PART 111

ESTABLISHMENT OF THE BOARD OF THE
CORPORATION

7. (1) There is hereby established a Board to be called the Board of
the Ocean Park Corporation.





(2) The Board shall be the governing and executive body of the
Corporation and, as such, shall perform all the functions imposed on the
Corporation and may exercise all the powers conferred on the
Corporation by this Ordinance.

8. (1) The Board shall consist of not less than 7 members
appointed by the Governor.

(2) Without prejudice to section 42 of the Interpretation and
General Clauses Ordinance, a member shall hold office for a period of
not more than 3 years as the Governor may determine, but may from
time to time be re-appointed.

(3) Any member may at any time by notice in writing to the
Governor resign from the Board.

9. (1) The Governor shall, from among. the members, appoint

(a) a Chairman; and

(b) a Deputy Chairman, who shall act as the Chairman during the
absence or incapacity of the Chairman, or if that office
becomes vacant for any reason.

(2) Without prejudice to section 42 of the Interpretation and General
Clauses Ordinance, the Chairman or Deputy Chairman shall hold office
for a period of not more than 3 years as the. Governor may determine,
but may from time to time be reappointed.

(3) Where for any reason both the Chairman and the Deputy
Chairman are absent from Hong Kong or are, for any other reason,
unable to perform the functions of their respective offices, the members
may appoint one of their number to act as the Chairman during that
absence or incapacity of the Chairman and Deputy Chairman.

10. (1) At a meeting of the Board a majority of the members for the
time being shall form a quorum.

(2) At a meeting of the Board the Chairman shall preside.

(3) All questions for determination at a meeting of the Board shall
be decided by a majority of votes of the members present and voting
thereon and where there is an equality of votes the member presiding
shall have a casting vote in addition to his original vote.

(4) Where a member is in any way directly or indirectly interested
in a contract made or proposed to be made by the Corporation

(a) he shall disclose the nature of his interest at a meeting of the
Board;

(b)the disclosure shall be recorded in the minutes of the Board;
and





(c) the member shall not take any part in any deliberation of
the Board with respect to that contract except with the
permission of the Chairman and shall not vote on any
question concerning it.

(5) Subject to this Ordinance, arrangements relating to meetings of
the Board, and the procedure at and *the conduct of its meetings, shall
be such as the Board may determine.

11. The validity of any proceedings of the Board shall not be
affected by

(a) any defect in the appointment of any member;

(b) the absence of any member from the meeting at which any
such proceeding occurred; or

(c) any vacancy among members.

12. The Board may transact any of its business by circulation of
papers amongst members (whether any such member is in or outside
Hong Kong), and a resolution in writing which is approved in writing
by a majority of the members shall be as valid and effectual as if it had
been passed at a meeting of the Board.

PART IV

CORPORATION To REPLACE THE
COMPANY
AND RELATED MATTERS

13. (1) On and from the commencement of this^ Ordinance-

(a) all movable or immovable property that, immediately before
that commencement, was vested in the company shall vest in
the Corporation on the same terms and conditions on which it
was so vested in the company;

(b) all moneys and liquidated and unliquidated claims that,
immediately before that commencement, were payable to or
recoverable by the company shall be moneys and liquidated
and unliquidated claims payable to or recoverable by the
Corporation;

(c) all proceedings commenced before that commencement by the
company and pending immediately before that commencement
shall be deemed to be proceedings pending by the Corporation
and all proceedings so commenced by any person against the
company and pending immediately before that commencement
shall, be deemed to be proceedings pending by that person
against the Corporation;

(d) all contracts, agreements, arrangements and undertakings
entered into with, and all securities lawfully given to





or by, the company and in force immediately before that
commencement shall be deemed to be contracts, agreements,
arrangements and undertakings entered into with and
securities given to or by the Corporation;

(e) the Corporation may, in addition to pursuing any other
remedies or exercising any other powers that may be available
to it, pursue the same remedies for the recovery of money and
claims referred to in this section and for the prosecution of
actions and proceedings so referred to as the company might
have done but for this Ordinance;

the Corporation may enforce and realize any security or
charge existing immediately before that commencement in
favour of the company and may exercise any powers thereby
conferred on the company as if the security or charge were a
security or charge in favour of the Corporation; and

(g) all debts, money and claims, liquidated and unliquidated, that,
immediately before the commencement, were due or payable
by, or recoverable against, the company shall be debts due
by, money payable by and claims recoverable against, the
Corporation.

(2) No stamp duty shall be payable in respect of any vesting under
this section of movable or immovable property.

14. Any person who was, immediately before the commencement
of this Ordinance, an employee of the company shall, on and from that
commencement, be an employee of the Corporation on the same terms
and conditions as he was an employee of the company immediately
before that commencement.

15. (1) On and from the commencement of this Ordinance, a
reference in any document to the company or an employee of the
company shall be a reference to

(a) in the case of the company, the Corporation; and

(b) in the case of an employee of the company, an employee of
the Corporation.

(2) For the purposes of this section 'document' does not include
any document which relates to the incorporation of the company.

16. (1) On the commencement of this Ordinance, the company shall,
notwithstanding any provisions to the contrary in its constitution
governing the winding up or dissolution of the company and
notwithstanding the provisions of any other Ordinance, be deemed to
be dissolved under section 291A(1) of the Companies Ordinance as if,
on that commencement, the High Court had made an order under that
section that the company be struck off the register and dissolved and,
accordingly, the Registrar of Companies





shall, on that commencement, or so soon thereafter as is possible, strike
the company off the register.

(2) For the avoidance of doubt, it is hereby declared that-

(a) section 291A(2) of the Companies Ordinance shall not apply;
and

(b) section 291B of the Companies Ordinance shall apply,
to the company.

PART V

FUNCTIONS AND POWERS OF THE
CORPORATION

17. The functions of the Corporation shall be-

(a) to manage and control Ocean Park as a public recreational
and educational park;

(b)to provide at Ocean Park recreational and educational
facilities and other related facilities as it thinks fit;

(c)to develop Ocean Park for the purposes of recreation or
education generally in such manner as it thinks fit; and

(d)to apply its profits howsoever derived towards the promotion
of its functions specified in paragraphs (a), (b) and (c).

18. Subject to this Ordinance, the Corporation may do all such
things as are necessary for, or incidental or conducive to, the better
performance of its functions and in particular but without prejudice to
the generality of the foregoing, may

(a)acquire, take on lease, purchase hold and enjoy property,
movable or immovable, and sell, let or otherwise dispose of or
deal with such property;

(b) enter into any contract;

(c) apply for and receive sponsorships, receive gifts, whether on
trust or otherwise, and act as trustee of moneys or other
property vested in it on trust;

(d)erect, provide, equip, maintain, alter, remove, demolish,
replace, enlarge, improve and. keep in repair its buildings,
premises, furniture and equipment;

(e)fix and collect fees, subscriptions and charges and specify
conditions for the use of facilities and services provided by it;

(f) fix charges to be paid for any trading or advertising in Ocean
Park; and





(g)reduce, waive or refund fees, subscriptions or charges fixed
in the exercise of its powers under this section generally or in
any particular case or class of case,

PART VI

STAFF OF THE
CORPORATION

19. (1) The Corporation shall appoint a Chief Executive, who shall
be responsible to the Corporation for the day to day management and
administration of Ocean Park.

(2) The Corporation may appoint such other employees as it thinks
fit.

(3) All matters relating to the remuneration, the terms and
conditions of appointment, and the work and conduct, of employees,
and their suspension or dismissal from office, shall be determined by
the Corporation.

20. (1) The Corporation may engage the services of technical and
professional advisers to advise the Corporation in any matter arising
out of or in connexion with any of the functions or powers of the
Corporation.

(2) All matters relating to the remuneration and the terms and
conditions of engagement of advisers, and the manner of their
engagement, under subsection (1) shall be determined by the
Corporation.

21. (1) The Corporation may-

(a) grant, or make provision for the grant of, pensions, gratuities
and retirement benefits to employees;

(b) provide other benefits for the welfare of employees and their
dependants; and

(c) make payments, whether or not legally due, to the personal
representatives of a deceased employee or to any person who
was dependent on such employee at his death.

(2) The Corporation may establish, manage and control or enter in
an arrangement with any company or association for the establishment,'
management and control by such company or association either alone
or jointly with the Corporation of any fund or scheme for the purpose of
providing for the pensions, gratuities, benefits and payments referred to
in subsection (1).

(3) The Corporation may make contributions to any fund or scheme
referred to in subsection (2) and may require employees to make
contributions thereto.

(4) In this section 'employees' includes any class-of employee
which the Corporation may specify and in subsection (1) includes
former employees.





PART VII

COMMITTEES AND DELEGATIONS

22. (1) The Corporation may create, and appoint the
members of, such committees for any general or special purposes for
the better carrying out of the functions and powers of the Corpora-
tion as it thinks fit and any such committee may include persons who
are not members of the Board.

(2) The chairman of a committee created under subsection (1)
shall be appointed by the Corporation and the number of members
of a committee shall be determined by the Corporation.

(3) Subject to the directions of the Corporation, a committee
created under subsection (1) may determine its own procedure for its
meetings.

(4) The proceedings of any committee created under sub-
section (1) shall not be invalidated by any defect in the appointment
of any member thereof, the absence of any such member from the
meeting at which any such proceeding occurred or any vacancy
among such members.

23. (1) Subject to subsection (2), the Corporation may, with
or without restrictions or conditions as it thinks fit, delegate in
writing any of its functions or powers to-

(a) the Chief Executive; or

(b) any committee created under section 22(1).

(2) The Corporation shall not delegate any of its functions or
powers under Part IX or the power-

(a) to appoint the Chief Executive;

(b) to create any committee under section 22(1);

(c)to appoint an auditor under section 26(2) or section 33(2);
or

(d) to make by-laws under section 39.

24. (1) Subject to subsection (2), the Chief Executive may,
with or without restrictions or conditions as he thinks fit, delegate in
writing to such person, or committee created under section 22(1), as
he thinks fit, his functions and powers, including any function or
power delegated to him under section 23.

(2) The power conferred by subsection (1) on the Chief
Executive to delegate any function or power of the Corporation
delegated to him under section 23 and the exercise by any person, or
committee created under section 22(1), of any such function or
power delegated by the Chief Executive under subsection (1), shall
be subject to any restriction or condition imposed by the Corpora-
tion under section 23.





PART VIII

FINANCIAL

25. The Corporation may, for the promotion of its functions
specified in section 17(a), (b) and (c), borrow money and charge all
or any part of its property as security therefor, and pay interest on
any money so borrowed.

26. (1) The Corporation shall cause proper accounts to be
kept of all its financial transactions and shall cause to be prepared
for each financial year a statement of the accounts of the Corpora-
tion, which statement shall-'

(a) include-
(i) an income and expenditure account and balance
sheet; and
(ii) the number of attendances at Ocean Park for that
year; and

(b) be signed by the Chairman.

(2) The accounts of the Corporation and the signed statement
of accounts shall be audited by an auditor appointed by the
Corporation and the auditor shall certify the statement subject to
such report, if any, as he thinks fit.

(3) There shall be laid on the table of the Legislative Council
not later than 31 December next following the end of the period in
respect of which a statement is required to be prepared under
subsection (1) or so soon thereafter as the Governor may allow-

(a)a copy of the signed and audited statement of accounts
together with the auditor's report, if any; and

(b)a report by the Corporation on its activities during that
period.

27. All funds of the Corporation that are not immediately
required shall be invested in such investments as the Corporation
thinks fit.

28. Any auditor appointed under section 26(2) shall be entitled
at any time-

(a)to have access to such books of account, vouchers and
other records of the Corporation; and

(b) to require such information and explanation,

as he considers necessary to discharge his functions.

29. This Part shall not apply to the Fund.





PART IX

ESTABLISHMENT OF THE OCEAN PARK TRUST FUND

30. (1) There is hereby established a trust fund to be called the
Ocean Park Trust Fund.

(2) The Corporation shall be the trustee of the Fund and shall
administer it in accordance with this Part.

(3) The Fund shall consist of-

(a) such moneys and assets as may be donated, subscribed or
bequeathed to, and accepted by, or otherwise acquired by the
Corporation for the Fund; and

(b) any interest, dividends and income derived from the moneys
and other assets of the Fund.

31. The Corporation shall apply-

(a) such of the Fund as consists of the moneys and assets
referred to in section 30(3)(a) directly or indirectly in such
manner as is necessary for

(i) capital expenditure, on development projects for Ocean
Park; or

(ii) the promotion of such other functions specified in
section 17(a), (b) or (e) as the Governor in Council may
approve;and

(b)such of the Fund as consists of any interest, dividends and
income referred to in section 30(3)(b) directly or indirectly in
such manner as is necessary for the promotion of its
functions specified in section 17(a), (b) and (c).

32. The Corporation may invest any moneys of the Fund in such
authorized investment (within the meaning of section 4 of the Trustee
Ordinance) as the Corporation thinks fit.

33. (1) The Corporation shall cause proper accounts to be kept of
all transactions of the Fund and shall cause to be prepared, in respect of
the period from the commencement of this Ordinance to 30 June 1987,
and thereafter for each financial year, a statement of the accounts of the
Fund, which statement shall

(a)include an income and expenditure account and balance
sheet; and

(b) be signed by the Chairman.

(2) The accounts of the Fund and the signed statement of the
accounts shall be audited by an auditor appointed by the Corporation
and the auditor shall certify the statement subject to such report, if any,
as he thinks fit.





(3) There shall be laid on the table of the Legislative Council not later
than 31 December next following the end of each period in respect of
which a statement is required to be prepared under subsection (1) or so
soon thereafter as the Governor may allow

(a)a copy of the signed and audited statement of accounts
together with the auditor's report, if any; and

(b)a report by the Corporation on the administratior ation of the
Fund during that period.

34. The Fund shall not-

(a)be used by the Corporation for the purpose of borrowing
money; or

(b)be charged, mortgaged, pledged or used as security for any
purpose.

35. Any auditor appointed under section 33(2) shall be entitled at
any time

(a)to have access to such books of account, vouchers and other
records of the Fund; and

(b) to require such information and explanation,

as he considers necessary to discharge

PART X

MISCELLANEOUS

36. The Corporation shall not be regarded as a servant or agent of
the Crown or as enjoying any status, immunity or privilege of the
Crown.

37. The Corporation shall upon request by the Governor afford to
him sufficient facilities for obtaining information with respect to the
property and affairs of the Corporation and shall in such manner and at
such times as the Governor may require furnish him with returns,
accounts and other information with respect thereto and afford to him
facilities for the verification of information furnished.

38. The Governor may, if he considers the public interest so
requires, give directions in writing to the Corporation in relation to the
performance of its functions or the exercise of its powers and the
Corporation shall comply with those directions.

39. (1) The Corporation may, under its seal, make by-laws not
inconsistent with this Ordinance for all or any of the following
purposes

(a)the management and control, including the closing or partial
closing, of Ocean Park;





(b)the fixing of the times during which Ocean Park or any part
thereof may be open to members of the public;

(c)the use of any equipment, apparatus, fitting or facility
provided for use at Ocean Park;

(d)the preservation of good order and discipline. and prevention
of nuisances in Ocean Park;

(e)the control (including prohibition).of trading, advertising or
the erection of structures in or on Ocean Park, the removal,
storage and sale of any trading, advertising or advertising or
construction materials that are brought into or remain in or on
Ocean Park in contravention of any by-law made under this
section, the recovery of any costs incurred in respect of such
removal, storage and sale, and the forfeiture of the proceeds
of such sale; and

(f)the better carrying out of the functions and powers of the
Corporation.

(2) Any by-law made under this section may provide that a
contravention of specified provisions thereof shall be an offence and
may prescribe penalties therefor not exceeding a fine of $2,000 and
imprisonment for 3 months.

(3) Without prejudice to any Ordinance relating to the prosecution
of criminal offences or to the powers of the Attorney General in relation
to the prosecution of criminal offences, prosecutions under any by-law
make under this section may be brought in the name of the Corporation.

(4) The Corporation shall cause printed copies of all by-laws made
under subsection (1) to be

(a) prominently displayed in Ocean Park;

(b) kept at its principal office; and

(c) available for sale to any person at a reasonable cost.

(5) In this section, 'Ocean Park' means any premises or land of
the Corporation.
Originally 35 of 1987. L.N. 186/87. Short title. Interpretation. (Cap. 50.) (Cap. 32.) Establishment of the Corporation. Fixing of common seal of the Corporation. Documents of the Corporation. Certain documents not required to be sealed. Establishment of the Board. Membership of the Board. (Cap. 1.) Chairman of the Board. (Cap. 1.) Proceedings of the Board. Validity of proceedings. Transaction of business by circulation of papers. Corporation to replace the company. Saving of employees of the company. References in documents to the company. Dissolution of the company. (Cap. 32.) Function of the Corporation. Powers of the Corporation. Appointment of Chief Executive and other employees. Employment of technical and professional advisers. Staff benefits. Creation and functions of committees. Power of Corporation to delegate. Power of Chief Executive to delegate. Power to borrow money. Accounts and statements. Investment of surplus funds. Auditors. This Part not to apply to the Fund. Establishment of the Fund. Application of the Fund. Investment of moneys. (Cap. 29.) Accounts and statements. Fund not to be used as security. Auditors. Corporation not servant or agent of the Crown. Governor may obtain information. Governor may give directions. By-laws.

Originally 35 of 1987. L.N. 186/87. Short title. Interpretation. (Cap. 50.) (Cap. 32.) Establishment of the Corporation. Fixing of common seal of the Corporation. Documents of the Corporation. Certain documents not required to be sealed. Establishment of the Board. Membership of the Board. (Cap. 1.) Chairman of the Board. (Cap. 1.) Proceedings of the Board. Validity of proceedings. Transaction of business by circulation of papers. Corporation to replace the company. Saving of employees of the company. References in documents to the company. Dissolution of the company. (Cap. 32.) Function of the Corporation. Powers of the Corporation. Appointment of Chief Executive and other employees. Employment of technical and professional advisers. Staff benefits. Creation and functions of committees. Power of Corporation to delegate. Power of Chief Executive to delegate. Power to borrow money. Accounts and statements. Investment of surplus funds. Auditors. This Part not to apply to the Fund. Establishment of the Fund. Application of the Fund. Investment of moneys. (Cap. 29.) Accounts and statements. Fund not to be used as security. Auditors. Corporation not servant or agent of the Crown. Governor may obtain information. Governor may give directions. By-laws.

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