| To make provision for the establishment of a trust fund to be known as the Education Scholarships Fund and for the due administration thereof and for purposes connected with the matters aforesaid. [23 December 1955] (Originally 67 of 1955) Cap 1085 s 1 Short title This Ordinance may be cited as the Education Scholarships Fund Ordinance. Cap 1085 s 2 Interpretation In this Ordinance, unless the context otherwise requires- "committee" (委员会) means the Education Scholarships Fund Committee established by section 5; "fund" (基金) means the Education Scholarships Fund established by section 3; "general capital" (一般资本) means the moneys and assets mentioned in section 3(2)(a) and any moneys or assets forming part thereof under section 14(2)(a); (Added 63 of 1973 s. 2) "General Reserve Fund" (一般储备金) means the reserve fund in respect of the scholarships referred to in Parts I and II of the Register; (Added 63 of 1973 s. 2) "original value" (原有价值) means the value of a scholarship on the first day it is administered by the Trustee; (Added 63 of 1973 s. 2) "Permanent Secretary" (常任秘书长) means the Permanent Secretary for Education and Manpower; (Added 3 of 2003 s. 30) "Register" (登记册) means the register of scholarships referred to in section 8; (Added 63 of 1973 s. 2. Amended L.N. 446 of 1994) "separate capital" (独立资本) means the moneys and assets of a scholarship referred to in Part III of the Register; (Added 63 of 1973 s. 2) "Separate Reserve Fund" (独立储备金) means the reserve fund formed in respect of a scholarship referred to in Part III of the Register; (Added 63 of 1973 s. 2) "Trustee" (受讬人) means the Permanent Secretary as trustee of the fund; (Amended 3 of 2003 s. 30) "vesting day" (归属日期) means the 1st day of April, 1956. (G.N. 157 of 1956) (Amended 3 of 2003 s. 30) Cap 1085 s 3 Establishment and vesting of fund (1) There is hereby established a trust fund to be known as the Education Scholarships Fund which is vested in the Permanent Secretary as Trustee. (2) The fund consists of- (a) the moneys and assets, including any sum accumulated by way of interest therefrom at the vesting day, the income from which is available for payment of the scholarships referred to in Parts I and II of the Register; (Replaced 63 of 1973 s. 3) (b) the moneys and assets of the scholarships referred to in Part III of the Register; (Replaced 63 of 1973 s. 3) (c) any further donations at any time made to the fund and accepted by the committee; (d) any sums paid in accordance with section 8(2).(3) For the purposes of this Ordinance, the person for the time being performing the duties of the office of the Permanent Secretary shall be a corporation sole and shall have the name of the "Permanent Secretary for Education and Manpower" and shall have perpetual succession and all moneys and assets vested in the Trustee under this Ordinance shall be deemed to be vested in the Permanent Secretary for Education and Manpower without any further transfer or conveyance. (Amended 3 of 2003 s. 31) Cap 1085 s 4 Objects of the trust fund Remarks: Adaptation amendments retroactively made - see 55 of 2000 s. 3 (1) The Trustee holds and stands possessed of the fund subject to such direction and control by the committee as is provided in this Ordinance and subject to and in accordance with the provisions of this Ordinance upon trust- (a) as to the general capital, to apply the income therefrom in payment of the scholarships referred to in Parts I and II of the Register; (Replaced 63 of 1973 s. 4) (b) as to the separate capital of each of the scholarships referred to in Part III of the Register, to apply the income therefrom in payment of each scholarship in accordance with the terms laid down by the donor of the scholarship, if any, so far as they are not inconsistent with the provisions of this Ordinance; (Replaced 63 of 1973 s. 4) (c) as to any further moneys donated to the fund and accepted by the committee in trust to apply the income therefrom in accordance with the terms laid down by the donor or by the committee in accordance with section 14; (Amended 63 of 1973 s. 4) (d) as to any fees paid in accordance with section 8(3), to transfer them to the General Reserve Fund; (Replaced 63 of 1973 s. 4)(2) Payments out of the fund may be made only to persons who at the date of taking their respective examinations were resident in Hong Kong but may be made in respect of attendance at any educational institution whether within Hong Kong or not. (Amended 13 of 1966 Schedule; 55 of 2000 s. 3) Cap 1085 s 5 Establishment of committee (1) There is hereby established a committee to be known as the Education Scholarships Fund Committee. (2) The committee shall consist of- (a) the Permanent Secretary or his representative; (Amended 19 of 1988 s. 2; 3 of 2003 s. 32) (b) the Director of Accounting Services or his representative; (Amended L.N. 16 of 1977; L.N. 453 of 1993) |
