Hong Kong Ordinances

LORD WILSON HERITAGE TRUST ORDINANCE - SECT 6

Additional powers of the Board of Trustees

(1) The Board of Trustees may-

   (a)  invest Trust assets in such investments as it thinks fit, whether or
        not such investments are in Hong Kong or are authorized by section 4
        of the Trustee Ordinance ( Cap 29);

   (b)  borrow money in such manner, on such terms and against such security
        as the Board of Trustees thinks expedient;

   (c)  accumulate Trust income not applied under section 5(2) or paid under
        section 10;

   (d)  acquire, by gift, purchase or other means, property whether or not
        subject to any mortgage, easement or other charge, and hold and sell,
        let or otherwise dispose of such property either for promoting the
        objects  of the Trust or for the purpose of investment.

(2) The Board of Trustees may accept donations of money or property intended
for promoting the objects of the Trust, but shall have the right to refuse
such donations.

(3) For the purpose of promoting the objects of the Trust, the
Board of Trustees may-

   (a)  make grants to any person or body, public or private;

   (b)  subject to any law relating to the lending of money at interest, lend
        money to any person or body, public or private;

   (c)  lend, for payment or otherwise, movable property to any person or
        body, public or private;

   (d)  employ any person or body to manage any property held by the
        Board of Trustees for promoting the objects of the Trust, or to act as
        caretaker or tour guide at such property or elsewhere;

   (e)  employ such librarians, editors, conservators, researchers, curators,
        public relations officers and other professional or non-professional
        staff as may be appropriate.

(4) The Board of Trustees may from time to time delegate to the Council all or
any of its powers under subsection (3) and where it does so the provisions of
section 8(3) shall apply. (Enacted 1992)