HONG KONG SCIENCE AND TECHNOLOGY PARKS CORPORATION ORDINANCE
L.N. 91 of 2001
Powers of Corporation
(1) The Corporation shall have powers-
(a) to do, in any part of the world, such things as are expedient for or conducive to the attainment of the purposes of the Corporation or of any purpose reasonably incidental to or consequential upon any of those purposes;
(b) to do any thing referred to in paragraph (a) jointly with other persons.
(2) Without prejudice to the generality of subsection (1), the Corporation may-
(a) purchase, hire or otherwise obtain, hold, sell, let or otherwise dispose of property of any description;
(b) build, rebuild, repair, maintain, alter, improve or demolish buildings, structures and other facilities;
(c) subject to the terms and conditions contained in the land grant, conveyance or lease related to any specified premises-
(i) lay out land in the specified premises;
(ii) sell, let, sublet or otherwise dispose of land or any facilities in the specified premises on such terms and conditions as the Board considers appropriate; or
(iii) prepare, approve or execute plans for the establishment, improvement or development of the specified premises;
(d) manage any buildings, structures and other facilities (including any land ancillary to them) in specified premises;
(e) enter into contracts or other agreements;
(f) with the prior approval of the Secretary, borrow or raise money on such security or other conditions as the Board considers appropriate;
(g) engage technical, professional or other persons to provide services for the Corporation and determine all matters relating to such engagement;
(h) determine the services and facilities to be provided by the Corporation and the manner in which such services and facilities are to be provided, operated and managed;
(i) fix and charge fees for the services and facilities provided by the Corporation, and such fees need not be limited by reference to the costs incurred or likely to be incurred in the provision of such services and facilities;
(j) be a member, or otherwise take part in the activities, of any association or other body of persons concerned with any matter related to the purposes of the Corporation;
(k) organize and hold seminars or exhibitions;
(l) produce, publish and sell publications and audio-visual materials related to the purposes of the Corporation;
(m) accept gifts of money or other property of any description upon such terms and conditions (if any) as shall be specified by the donor; but a gift shall not be accepted by the Corporation if any term or condition specified by the donor is inconsistent with the purposes of the Corporation;
(n) with the prior approval of the Secretary, establish one or more funds which shall be used for the purposes of the Corporation;
(o) approve the annual budget of the Corporation, which shall include the annual estimate of income and expenditure and a business plan of the Corporation;
(p) approve the annual report of the Corporation, which shall include a statement of accounts referred to in section 23(2); and
(q) establish any subsidiary company within the meaning of the Companies Ordinance (Cap 32) the purposes of which are consistent with the purposes of the Corporation.
(3) (a) Moneys may be paid or transferred by the Corporation to the credit of a fund established under subsection (2)(n) only with the prior consent of the Secretary.
(b) The Secretary may give the Corporation directions in writing as regards the management or operation of a fund established under subsection (2)(n) and the Corporation shall give effect to such directions.
(4) (a) Without prejudice to the generality of subsection (1), the Corporation may, for the purposes of the Corporation, enter into commercial dealings or operations with respect to-
(i) any service developed in the course of the performance of its functions;
(ii) any product or by-product resulting from the performance of its functions;
(iii) any intellectual property resulting from the performance of its functions; and
(iv) its land or other property.
(b) The Corporation may, for the purposes of exercising its powers under paragraph (a)-
(i) establish or join in establishing a company, partnership or trust;
(ii) subscribe for, invest in, or otherwise acquire, or dispose of, shares, units or other interests in a sole proprietorship, company, partnership or trust;
(iii) enter into any joint venture or arrangement for sharing profits; and
(iv) manage, or participate in the management of, a sole proprietorship, company, partnership or trust.