These by-laws set up the Chater Masonic Scholarship Fund, define its trustees and officers, and require annual meetings, accounting, and rules for awarding scholarships.
Chater Masonic Scholarship Fund By-laws(Cap. 1007, section 4) [1 November 1929](Format changes—E.R. 4 of 2022)Citation 1. These by-laws may be cited as the Chater Masonic Scholarship Fund By-laws.Constitution 2. The fund shall be known as the “Chater Masonic Scholarship Fund”. 3. The fund shall consist of the existing fund in the hands of the honorary treasurer and such further contributions as shall be made by masonic bodies and individuals.Government 4. The trustees shall consist of such brethren as shall be elected by the lodges and chapters contributing to the funds of the corporation and of trustees for life as hereinafter provided. Each Lodge shall elect one brother to be a trustee and every individual brother contributing not less than $500 shall by virtue of such contribution become a trustee for life. Any vacancy or vacancies of elected trustees occurring through death, incapacity, retirement or prolonged absence from Hong Kong may be filled by the Lodge or other masonic body. Any representative of a Lodge shall not be deemed a trustee until the notice referred to in section 2 of the Ordinance including his name as a trustee has been filed with the Registrar of Companies.(G.N.A. 149 of 1949; 55 of 2000 s. 3) 5. The trustees shall appoint annually from among themselves a president and a vice-president. At all meetings the president shall preside, or in his absence the vice-president, or in the absence of both the senior past master present. 6. The trustees shall appoint annually an honorary treasurer who must be a subscribing member of a Lodge in Hong Kong, who shall collect all sums due to the corporation and keep an accurate account of all moneys received and disbursed to be presented at each meeting. He shall also carry out the duties of secretary to the trustees. 7. The trustees shall also appoint one or more auditors (who shall not be trustees) to audit the accounts and present a statement at the annual meeting.Funds 8. All contributions shall be paid to the honorary treasurer and shall by him be placed to the credit of the corporation in a local bank or invested as the trustees may deem advisable. 9. No payment on account of the corporation shall be made without the order of the trustees, payment on petty cash account excepted, for which latter purpose the trustees may place such sum as they think fit at the disposal of the honorary treasurer, who shall furnish a correct account of all such payments at each meeting of the trustees. All cheques shall be signed by the honorary treasurer.Scholarship 10. A scholarship shall be granted to the person selected by the trustees for one year only in the first instance, but such scholarship shall be renewable yearly at the discretion of the trustees. 11. In the event of there being more than one candidate qualified to receive the benefits of this endowment, the trustees shall make the award mainly on the result of a matriculation or equivalent examination but shall also take into consideration the character of the candidate and the financial position of the candidate’s family.(G.N.A. 149 of 1949)Meetings 12. The annual meeting of the trustees shall be held not later than the month of May in every year when the report of the trustees and the audited statement of accounts made up to the 31st December of the previous year shall be presented and any business of the previous year discussed, after which, the accounts and report being passed, the trustees shall proceed with the appointment of the officers for the ensuing year and discuss any business having reference to the corporation which may be brought before the meeting. Emergency meetings may be called at any time by the president or in his absence by the vice-president, or in the absence of both, by the senior past master.Quorum 13. At all meetings three trustees shall form a quorum.