| Debenture |
|
(A) CORPORATE DEBENTURE (HK$60,000)
| 1. | Subject to the approval
of the Board of Directors of Park View and the rules laid down by
this Board; a debenture may be issued to a person (whether an individual,
a firm or a corporate body) even though such person shall not be able
to nominate a child for enrollment in PIPS at the time of acquisition
of the debenture. |
| 2. | Each debenture holder
will automatically become a member of the Parent's Association of
PIPS. |
| 3. | The Register of
debentures and transfers shall be kept at the registered office of
Park View. |
| 4. | The registered holder
of this debenture shall be entitled to nominate a specified child
to receive education at PIPS provided that his/her admission has been
approved by the Principal of PIPS and provided also that such a vacancy
exists for the said child in a class appropriate for his/her age and
development. For the purpose of this clause, a child shall mean 'a
child specified by a debenture holder' or 'a child of an employee
of the debenture holder.' |
| 5. | The debenture certificate
is not negotiable. The debenture holder can call upon Park View to
redeem this debenture at the issued price by giving Park View at least
one month's written notice in advance of the expected date of repayment.
Redemption shall be made subject to the rules laid down by the Board
of Directors of Park View. |
| 6. | This debenture is non-interest bearing. |
| 7. | This debenture is unsecured. |
| 8. | In the event of
the debenture holder having no child enrolled at PIPS prior to the
beginning of the school year, the holder is entitled to place the
name of a specified child on the waiting list of PIPS pending enrollment
and upon receipt by Park View of the Registration fee. Priority between
holders on the waiting list shall be in chronological placement. |
| 9. | This debenture is transferable. |
(B) PERSONAL DEBENTURE (HK$50,000)
| 1. | A debenture can
be obtained by any individual subject to the approval of the Board
of Directors of Park View and the rules laid down by this Board. The
debenture holder is entitled to nominate a specific child to receive
education in Park View International Pre-school ("PIPS"), an organisation
wholly owned by Park View; provided that his/her admission has been
approved by the Principal of PIPS and provided also that such a vacancy
exists for the said child in a class appropriate for his/her age and
development. |
| 2. | Each debenture holder
will automatically become a member of the Parent's Association of
PIPS. |
| 3. | The Register of
debentures and transfers shall be kept at the registered office of
Park View. |
| 4. | The debenture holder
shall be entitled to nominate one specific child to attend PIPS; subject
however, to his right to nominate another child of the same family
whose admission has been approved by the Principal of PIPS and can
take place immediately following the departure of the first nominated
child from the school. For the purpose of this clause, a child shall
mean 'a child of the debenture holder' or 'a child for whom the debenture
holder is legally responsible for maintenance and education. |
| 5. | The debenture certificate
is not negotiable. The debenture holder can call upon Park View to
redeem this debenture at the issued price by giving Park View at least
one month's written notice in advance of the expected date of repayment.
Redemption shall be made subject to the rules laid down by the Board
of Directors of Park View. |
| 6. | This debenture is non-interest bearing. |
| 7. | This debenture is unsecured. |
| 8. | In the event of
the debenture holder having no child enrolled at PIPS prior to the
beginning of the school year, the holder is entitled to place the
name of a specified child on the waiting list of PIPS pending enrollment
and upon receipt by Park View of the Registration fee. Priority between
holders on the waiting list shall be in chronological placement. |
| 9. | This debenture is non-transferable. |