Hong Kong Regulations

ST. PAUL'S COLLEGE COUNCIL REGULATIONS - REGULATION 8

Finance

(1) The Honorary Treasurer shall be responsible for the general supervision of
the finances. He shall arrange for the accounts to be audited by such person
as shall be appointed for that purpose by the corporation and shall present a
report thereon to the corporation as soon as possible after the close of the
financial year.

(2) In every year whenever possible the corporation shall set aside a sum to
the credit of a reserve fund as provision for extension, maintaining or
replacing buildings, or for unforeseen circumstances.