Constitution - Chinese Swimming Club

Article 16 - Property and Trustees16.1 The Club may receive or disclaim property of any nature whetheror not it is subject to any expressed conditions or trusts.16.2 The Club may purchase or otherwise acquire and hold real propertyof any nature and in any part of the world and may sell, let, mortgageor otherwise deal with the same.16.3 Any property belonging to the Club shall be vested and managedby not less than two but not more than four Trustees who shall beelected at a general meeting of the Club and the Trustees shall holdoffice until new Trustees are appointed by a general meeting.16.4 The Club’s investments may include securities, funds, financialderivatives and property, real or personal, freehold or leasehold inany part of the world upon such terms and conditions (if any) asmay be authorised by law at the existing time.16.5 The Management Committee may direct the Trustees after obtainingthe approval from a general meeting to sell, vary and transferinvestments and property and use the proceeds thereof for suchpurposes or in such manner as the general meeting shall decide.16.6 No claim shall be made by the Club or its members against anyTrustee for any act or omission by the Trustee in the performanceof his duties as Trustee of the Club unless there is fraud by thatTrustee. The Trustees shall be indemnified by the Club from andagainst any liabilities, costs, expenses and payments whatsoeverwhich may be incurred or made by them in the performance of theirduties as Trustees of the Club.16.7 A Trustee may at any time on his own accord resign from histrusteeship by a written notice to the Club.16.8 If a Trustee dies or becomes of unsound mind or emigrates fromSingapore or is absent from Singapore for a continuous period oftwelve months, he shall be deemed to have resigned from histrusteeship. In the above event and if the number of Trustees thenfalls below two, a general meeting will be called to elect a trustee.16.9 A General Meeting may remove a Trustee from his trusteeship andappoint another trustee in his place.27