### Li Po Chun Charitable Trust Fund Ordinance 《李寶椿慈善信託基金條例》

1. Short title
This Ordinance may be cited as the Li Po Chun Charitable Trust Fund Ordinance.

2. Interpretation
In this Ordinance, unless the context otherwise requires—
committee (委員會) means the Li Po Chun Charitable Trust Fund Committee established in accordance with the provisions of section 5;
fund (基金) means the Li Po Chun Charitable Trust Fund;
member (成員) means a member of the committee;
trustee (受託人) means the Secretary for Home and Youth Affairs Incorporated as trustee of the fund. (Amended L.N. 68 of 1985; L.N. 263 of 1989; L.N. 144 of 2022)

3. Establishment of fund
(1) There is hereby established a trust fund to be known as the Li Po Chun Charitable Trust Fund which shall consist of the shares donated by Li Po Chun to the Government, together with any interest thereon which shall have accrued prior to the commencement* of this Ordinance and together with such further moneys and assets as may from time to time be donated to the fund and accepted by the committee, or any investments from time to time representing any such moneys and together with such interest and income derived from any such moneys and assets.
(2)  The committee may, from time to time, solicit and accept on behalf of the trustee donations and bequests to the fund:
Provided that it shall be a condition of the acceptance by the committee of any further donations to the fund that the name of the fund shall remain unchanged. 

Editorial Note:
* Commencement date: 8 November 1963.

4. The trustee
(1) The fund is hereby vested in the Secretary for Home and Youth Affairs Incorporated, a body corporate/incorporated under and by virtue of the Secretary for Home and Youth Affairs Incorporation Ordinance (Cap. 1044), as trustee. (Amended L.N. 67 of 1985; L.N. 68 of 1985; L.N. 263 of 1989; L.N. 144 of 2022)
(2) The trustee shall hold the fund upon the trusts and with and subject to the powers and provisions hereinafter contained in this Ordinance.

### Li Po Chun Charitable Trust Fund Ordinance 《李寶椿慈善信託基金條例》

6. The trust
(1) The trustee shall, at the direction of the committee, apply—
(a) the income of the fund, in such proportions as the committee may in its discretion decide—
(i) for educational purposes in accordance with the Schedule; and
(ii) for payment to the Director of Social Welfare for use by him for the relief of distress in cases for which no adequate assistance is available from other sources; and
(b) the capital of the fund for such educational purposes, including the establishment or endowment of educational institutions in Hong Kong, as the committee may in its discretion decide. (Replaced 49 of 1989 s. 2)
(2) Notwithstanding subsection (1), the committee may invest any part of the income of the fund as capital, the income from which shall thereafter form part of the income of the fund.
(Replaced 104 of 1970 s. 3)

7. Investments
(1) Subject to subsections (2) to (5), the trustee may invest any moneys of the fund including the proceeds of the realization of any of the shares donated as aforesaid in such investments, whether or not such investments are trust investments, as the committee may advise. (Amended L.N. 16 of 1977; 48 of 1989 s. 2; 94 of 1991 s. 3)
(2) If the committee so directs, the trustee shall employ such professional person or financial institution as may be nominated by the committee to manage the investment of all or part of the moneys of the fund invested by the trustee under subsection (1). (Added 94 of 1991 s. 3)
(3) A person or institution appointed under subsection (2) shall, in performing his or its functions, act in accordance with any advice of the committee in respect of those functions conveyed to him or it in writing from time to time by the trustee. (Added 94 of 1991 s. 3)
(4) The trustee shall not be responsible for the consequences of any act or omission of a person or institution employed under subsection (2) if he or it was employed in good faith. (Added 94 of 1991 s. 3)
(5) All salaries and fees of a person or institution employed under subsection (2) shall be paid by the trustee out of the fund. (Added 94 of 1991 s. 3)

### Li Po Chun Charitable Trust Fund Ordinance 《李寶椿慈善信託基金條例》

8. Rules
(1) The committee may make rules providing for—
(a) its procedure in the transaction of business and the maintenance of good order at meetings; and
(b) generally all matters relating to the administration and management of the fund and the discharge of the duties of the committee.
(2) A copy of every rule made in accordance with the provisions of subsection (1) shall be furnished to the Chief Secretary for Administration and any such rule shall be subject to disallowance or amendment at any time by the Chief Executive. (Amended L.N. 362 of 1997; 4 of 2000 s. 3)

9. Express powers of committee
(1) The committee shall have power to write off from the moneys of the fund any sums which the committee finds to be irrecoverable.
(2) Save as is provided in section 6(1) and (2), the committee shall not have power to apply or to direct that the trustee should apply any of the capital funds of the trust as income or for any other purpose. (Amended 49 of 1989 s. 3)

10. Determination of questions at meeting
All questions which may arise at any meeting of the committee shall be decided by a majority of votes by members present and, in the case of equality of votes, the chairman shall have a casting vote in addition to his original vote:
Provided that in any case in which the committee is equally divided in opinion without the casting vote of the chairman, any 3 members of the committee may demand that the point be referred to the Chief Executive for his decision and in such event the decision of the Chief Executive shall be final. (Amended 4 of 2000 s. 3)

10A. Transaction of business by circulation of papers
The committee may transact any of its business by circulation of papers amongst members, 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 committee.
(Added 94 of 1991 s. 4)