Hong Kong Ordinances

THE HELENA MAY INCORPORATION ORDINANCE - SECT 4

Powers of the corporation

(Past version on 30/06/1997).

Adaptation amendments retroactively made - see 41 of 1999 s. 3

(1) The corporation shall have power to acquire, accept leases of, purchase,
take, hold and enjoy any lands, buildings, messuages or tenements of what
nature or kind soever and wheresoever situate, and also to invest moneys upon
mortgage of any lands, buildings, messuages or tenements, or upon the
mortgages, debentures, stocks, funds, shares or securities of any corporation
or company, and also to purchase, acquire and possess vessels, goods and
chattels of what nature and kind soever.

(2) The corporation shall further have power to grant, sell, convey, assign,
surrender, exchange, partition, yield up, mortgage, demise, reassign, transfer
or otherwise dispose of any lands, buildings, messuages, tenements, mortgages,
debentures, stocks, funds, shares or securities, vessels, goods and chattels
which are for the time being vested in or belonging to the corporation and to
borrow money, give receipts, guarantees and indemnities, upon such terms as to
the corporation may seem fit. (Amended 78 of 1974 s.6)

(3) Notwithstanding the provisions of subsection (2), the corporation shall
not sell, convey, assign or dispose of the lands vested in the corporation or
any buildings thereon or any part thereof to any person without the written
licence of the Chief Executive and if the said lands and buildings or any part
thereof shall at any time cease to be used for the purposes of the corporation
in accordance with the provisions of the constitution the said lands and
buildings or part thereof, as the case may be, shall revert to the Government.
(Amended 78 of 1974 s.6; 41 of 1999 s. 3)