14By-laws

14 By-laws

14 By-laws

(1) Statutory Trustees may, in relation to a Fund of which they are trustees, make by-laws not inconsistent with this Act or the substituted trusts relating to that Fund, for or with respect to all matters or things that by this Act are required or permitted to be prescribed or that are necessary or convenient to be prescribed for giving effect to this Act and those substituted trusts.

(2) Without limiting the generality of subsection (1), Statutory Trustees of a Fund may make by-laws referred to in that subsection for or with respect to:

(a) prescribing the terms and conditions upon which awards may be made,

(b) determining eligibility for awards,

(c) prescribing the courses, subjects or fields in respect of which, and the stages at which, an award may be made,

(d) specifying the purposes for which an award may be utilised,

(e) prescribing the educational establishment at which the conditions governing an award may be fulfilled,

(f) prescribing the form of an award,

(g) prescribing the time at which an award may be made,

(h) the expenditure of surplus income pursuant to section 13,

(i) empowering the Statutory Trustees to determine matters relating to awards in accordance with their opinion, or at their discretion, or to direct the manner in which such matters may be determined,

(j) empowering the Statutory Trustees to determine the terms and conditions on which, or the purposes for which, a scholarship may be awarded or an award by virtue of section 13, a grant or a donation may be made.

(3) A by-law may be general or particular in its application and its application may vary according to time, place or circumstance.

(4) When making a by-law, Statutory Trustees shall certify that they have had regard to the intentions of the donor of the Fund to which the by-law relates, as expressed by the trust instrument relating to that Fund.

(5) A by-law made under this Act shall be submitted to the Governor for approval.

(6) (Repealed)