### Education Scholarships Fund Ordinance 《教育獎學基金條例》

4. Objects of the trust fund
(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. Amended E.R. 4 of 2023)
(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)

### Education Scholarships Fund Ordinance 《教育獎學基金條例》

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)
(c) the principal of Queen’s College;
(d) the principal of King’s College;
(e) such other members not exceeding two as may be appointed by the Chief Executive.
(2A) The chairman of the committee shall be appointed by the Chief Executive. (Added 19 of 1988 s. 2)
(3) Members appointed by the Chief Executive shall hold office for three years from the date of their respective appointments, and may be reappointed or removed by the Chief Executive at his discretion.
(4) The quorum necessary for the transaction of business by the committee may be fixed by standing orders made under section 6 and unless so fixed shall be three members.
(Amended 55 of 2000 s. 3)

6. Standing orders of committee
(1) The committee may make standing orders—
(a) governing its procedure in the transaction of business;
(b) for the maintenance of good order at its meetings; and
(c) generally, for matters relating to the administration and management of the fund and the discharge of its duties.
(2) A copy of such standing orders shall be furnished to the Chief Secretary for Administration and they shall be subject to disallowance by the Chief Executive. (Amended L.N. 226 of 1976; L.N. 242 of 1994; L.N. 362 of 1997; 55 of 2000 s. 3)
(3) All questions arising at any meeting of the committee shall be decided by a majority of votes of members present and, in case of an equality of votes, the chairman shall have a casting vote in addition to his original vote.

7. Secretary
(1) There shall be a secretary to the committee, hereinafter referred to as the secretary

### Education Scholarships Fund Ordinance 《教育獎學基金條例》

8. Register of scholarships
(1) The secretary shall cause a Register of Scholarships to be maintained and the following particulars shall be entered therein—
(a) in Part I—
(i) the names of the scholarships donated before the vesting day in respect of which the amounts donated and the conditions of award as laid down by the donors are unknown;
(ii) the original value of each scholarship;
(iii) the conditions of award as laid down by the committee in respect of each scholarship;
(b) in Part II—
(i) the names of the scholarships donated before the vesting day in respect of which the amounts donated and the conditions of award as laid down by the donors are known, and the names of scholarships donated and accepted after that day under section 14(2)(a);
(ii) the moneys and assets representing the original donation in respect of each scholarship;
(iii) the original number of awards in respect of each scholarship;
(iv) the original value of each scholarship or of the awards thereof;
(v) the conditions of award in respect of each scholarship;
(vi) the name of the donor; and
(c) in Part III—
(i) the Fung Ping Shan scholarship, and the names of the scholarships donated and accepted after the vesting day under section 14(2)(b);
(ii) the moneys and assets representing the original donation in respect of each scholarship;
(iii) the original number of awards in respect of each scholarship;
(iv) the original value of each scholarship or of the awards thereof;
(v) the conditions of award in respect of each scholarship;
(vi) the name of the donor.
(2) The secretary shall note in the Register any changes made in respect of any scholarship under section 13 or 17.
(3) The Register shall be available for public inspection at the office of the Permanent Secretary at all convenient times on payment to the fund of a fee of 5 dollars. (Amended 3 of 2003 s. 32)
(Replaced 63 of 1973 s. 5)

9. Treasurer and auditor
(1) There shall be a treasurer of the fund, hereinafter referred to as the treasurer

### Education Scholarships Fund Ordinance 《教育獎學基金條例》

10. Investment
(1) If the original donor of any moneys at any time forming part of the fund stipulated or shall stipulate at the time when the donation is made any particular kind of investment or gave or shall give the moneys in the form of a particular kind of investment the Trustee may invest and continue to hold invested such moneys in such kind of investment.
(2) The Trustee may continue to hold any investments in which any moneys forming part of the fund are at present invested.
(3) Subject to the provisions of subsections (1) and (2), the Trustee shall invest moneys comprised in the fund only in investments permitted for the investment of trust funds by any enactment or in such other investments as may be specially authorized by the committee.
(4) (Repealed 68 of 1995 s. 44)(5) The Trustee may delegate the treasurer to exercise the powers in respect of investments conferred on him by this section. (Added 68 of 1995 s. 44)

11. Payments into and out of the fund
(1) All income from investments in the name of the Trustee and other revenue of the fund and all uninvested moneys of the fund shall be paid into a bank account in the name of the Trustee. (Amended 63 of 1973 s. 7)
(2) Withdrawal from the fund shall be only by cheques signed by the Permanent Secretary and either the secretary or the treasurer. (Amended 3 of 2003 s. 32)