17 Accounts
17.1 The Council shall cause proper and sufficient books of account to be kept
with respect to all sums of money received and expended by the College
and the matter in respect of which the receipt and expenditure takes place
and the assets and liabilities of the College
17.2 The books of account shall be kept at the registered office of the College
or at such other place or places as the Council thinks fit, and shall be open
to the inspection of the members of the Council.
17.3 The Council shall from time to time determine at what times and places
and under what conditions or regulations the accounts and books of the
College or any of them shall be open to the inspection of members not
being members of the Council and no member (not being a member of the
Council) shall have any right of inspecting any account or book or
document of the College except as conferred by statute or by the
Ordinance or authorised by the Council or by the College in General
Meeting.
17.4 Once at least in every year, the accounts of the College shall be examined
and the correctness of the balance sheet ascertained by one or more
authorised auditor or auditors.
18 Financial Year
The financial year of the College shall commence on the first day of
January each year and terminate on the last day of December of the same
year, both days inclusive.
19 Audit
19.1 One or more auditors, who need not be members of the College, shall be
appointed or elected annually at the Annual General Meeting. He shall
serve for a term of one year and be eligible for re-appointment or
re-selection.
19.2 In the event of an auditor vacating his office during the term of office, the
Council shall have the power to appoint a suitable person to fill the
vacancy. The appointment will be referred to the next Annual General
Meeting for covering approval.
19.3 The auditor shall audit all the accounts of the College and any subsidiary
accounts, as soon as possible after the close of each financial year and at
other times when necessary. He shall examine all books and accounts of
the College, certify as to their correctness or otherwise and make a report
to the Annual General Meeting.
19.4 A copy of auditor's report shall be conspicuously displayed at the
registered office of the College.
20 Notices
20.1 Notices may be served upon members either personally or by post in
prepaid letters or circulars, addressed to such members at their addresses
last registered with the College or by advertisement twice in one English
and one Chinese daily newspaper circulating in Hong Kong.
20.2 Any notice sent by post shall be deemed to have been served at the time
when the letter or circular containing the same would be delivered in the
ordinary course of post, and, in proof of such service, it shall be
sufficient to show that the letter containing the notice was properly
addressed and posted and any advertised notice shall be deemed to have
been duly served on the day following that on which the second of such
advertisements appeared in the Press.
21 Validity of Proceedings
21.1 The validity of any proceeding of the College shall not be affected by any
defect in the admission of any person to membership thereof or by any
defect in the appointment, election or by any vacancy amongst the
members of the Council;
21.2 The validity of any proceeding of the Council shall not be affected by
any defect in the appointment, election or co-option of any person as a
member thereof or by any vacancy amongst the members thereof.
22 Indemnity
Every member of the Council, officer or other servant of the College
shall be indemnified out of the funds of the College against all liability
incurred by him as such member of the Council, officer or servant in
defending any proceedings, whether civil or criminal, in which
judgement is given in his favour or in which he is acquitted or in
connection with an application under the Ordinance in which relief is
granted to him by the Court.
23 By- Laws
The Council shall have power from time to time to make such by- laws
for the furtherance of the objects for which the College is established and
for the proper conduct and management of the affairs of the College as
the Council may from time to time deem necessary or expedient or
convenient. The Council may also by resolution revoke or alter any by-
laws at any time.
24 Winding Up
24.1 The College can only be wound up with the consent of not less than
two-thirds of the voting members of the current year obtained at a General
Meeting.
24.2 If upon the winding up of the College there remains, after satisfaction of
all its debts and liabilities, any property whatsoever, the same shall not be
paid to or distributed among the members of the College, but shall be
given or transferred to some other institution or institutions having objects
similar to the objects of the College, and which shall prohibit the
distribution of its or their income and property among its or their members
to an extent at least as great as is imposed on the College under or by
virtue of Article 16 hereof, such institution or institutions to be determined
by the members of the College before the time of winding up, and in
default thereof by a Judge of the High Court of Hong Kong having
jurisdiction in regard to charitable funds, and if and so far as effect cannot
be given to the aforesaid provision, then to some charitable object.
25 Interpretation of the Articles
25.1 Interpretation of these Articles shall rest with the Council.
25.2 The Articles are to be taken as mutually explanatory of one another and to
be read as a whole.
25.3 Any matters not provided for in these Articles shall be referred to and
decided upon by the Council.
END