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

12. Disposal of excess income and reserve funds
(1) The committee may direct the Trustee—
(a) to transfer any income received in any year from the general capital which is in excess of the total amount required for payment of the scholarships referred to in Parts I and II of the Register in that year to the General Reserve Fund or to apply that income to form part of the general capital;
(b) to apply the General Reserve Fund or any part thereof to form part of the general capital; or
(c) to apply the General Reserve Fund or any part thereof to augment the income from the general capital in any year.
(2) The committee may direct the Trustee—
(a) to transfer any income received in any year from a separate capital of a scholarship in Part III of the Register which is in excess of the amount required for payment of the scholarship for which it is applicable in that year to the Separate Reserve Fund of such scholarship or to apply that income to form part of the separate capital;
(b) to apply a Separate Reserve Fund of a scholarship in Part III of the Register or any part thereof to form part of the separate capital of such scholarship; or
(c) to apply a Separate Reserve Fund of a scholarship in Part III of the Register or any part thereof to augment the income from the separate capital of such scholarship in any year.
(Replaced 63 of 1973 s. 8)

13. Variation of value of scholarship and creation of additional award
(1) Subject to subsection (4), the committee may in any year, direct the Trustee—
(a) to increase or decrease the value of any scholarship or of any award thereof; or
(b) to create an additional award of any scholarship provided that the value of any other award of that scholarship does not thereby fall below its original value.
(2) Where an additional award of a scholarship is created under subsection (1)(b), the conditions of the award, which shall be specified by the committee, may differ as to school, institution, class, form, subject or otherwise from the conditions of any other award of that scholarship.
(3) The committee may direct the Trustee to cancel any additional award of a scholarship created under subsection (1)(b).
(4) The committee shall not under subsection (1) direct the Trustee to decrease the value of any scholarship or any award thereof, or to create any additional award thereof, without the consent of the donor of that scholarship if he is living.
(5) Notice of any variation of the value of a scholarship or of an award thereof or of the creation of an additional award of a scholarship shall be given by the Permanent Secretary by notice published in the Gazette. (Amended 3 of 2003 s. 32)
(Replaced 63 of 1973 s. 9)

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

14. Future donations to fund
(1) The Trustee, in accordance with the directions of the committee, may refuse any donation to the fund if it appears to the committee that it would not be convenient or proper to administer the scholarship proposed to be paid out of such donation.
(2) Any future donations to the fund accepted by the Trustee may, at the option of the donor or if he shall not have expressed any wish thereon, at the option of the committee be either—
(a) applied to form part of the general capital whereupon the scholarship payable out of such donation shall be entered in Part II of the Register; or (Replaced 63 of 1973 s. 10)
(b) retained in a separate account whereupon the scholarship payable out of such donation shall be entered in Part III of the Register. (Replaced 63 of 1973 s. 10)
(3) Notice of any future donations accepted under this section shall be given by the Permanent Secretary by notice published in the Gazette. (Added 63 of 1973 s. 10. Amended 3 of 2003 s. 32)

15. Postponement of payment of scholarship
(1) The committee may, in its absolute discretion, decide that in any year there is no person eligible to be a recipient of a scholarship and may direct that no payment is made in respect of that scholarship during that year.
(2) If any scholarship is payable by instalments over a period of more than one year the committee may, in its absolute discretion, cancel the scholarship on the grounds that the person to whom the scholarship was awarded has not made sufficient progress to justify the continuance of payments.
(3) Any moneys remaining unpaid by reason of the provisions of subsection (1) or (2) may be applied by the Trustee at the direction of the committee in the same or any subsequent year to augment future scholarships or to create an additional scholarship under the same conditions of award as attached to the original scholarship.

16. Saving
Nothing in this Ordinance shall prevent a person receiving payment in respect of more than one scholarship.

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

17. Change of conditions of award of scholarship
(1) If at any time it appears to the Permanent Secretary that it has become impracticable or impossible to apply— (Amended 3 of 2003 s. 32)
(a) the income from any part of the general capital in payment of any of the scholarships referred to in Parts I and II of the Register; or
(b) the income from the separate capital of a scholarship referred to in Part III of the Register in payment of such scholarship,
the Permanent Secretary may bring such fact to the notice of the committee. (Amended 63 of 1973 s. 11; 3 of 2003 s. 32)
(2) Upon consideration of this fact the committee may decide that it would be in the public interest to change the conditions of award of such scholarship.

18. Notice of change of conditions of award
If in accordance with the provisions of section 17 the committee decides that it is in the public interest to change the conditions of award of a scholarship the secretary shall cause to be published once each and on the same day in one English language daily newspaper and one Chinese language daily newspaper each circulating in Hong Kong a notice stating— (Amended 55 of 2000 s. 3)
(a) the conditions of award of the scholarship as set forth in Part I, II or III of the Register or in respect of moneys donated to the fund in accordance with section 4(1)(c) as stipulated by the donor; (Amended 63 of 1973 s. 12)
(b) that the committee proposes to change the conditions of award of the scholarship;
(c) the proposed new conditions of award;
(d) that any person who objects to the proposal of the committee may submit representations in writing addressed to the secretary and delivered to him at the office of the Permanent Secretary within one month of the date of publication of the notice and in addition may appear before the committee in person at a date to be stipulated in the notice, such date to be not less than one month after the date of publication of the notice, to explain his objection. (Amended 3 of 2003 s. 32)