Capital Levy, Capital Certificates and Debentures
Harrow Hong Kong is a not-for-profit organisation in Hong Kong. The School does not receive any operating or capital grants from the Hong Kong government or from any other public or private institutions. Capital Levy, Capital Certificates and Debentures are used to help finance the construction and maintenance of the School, the acquisition of new facilities and equipment, and additions, enhancement and replacement of these facilities thereafter.
For students without Capital Certificates and Debentures, there is an annual payment of the Capital Levy. The payment is non-interest bearing, non-refundable and non-transferable.
The levy amount is reviewed each year. The current annual Capital Levy charge of HK$50,000 per year per student, which has remained unchanged since the School opened, will be adjusted to HK$60,000 per year per student from August 2016.
Capital Certificates and Debentures
A new and limited batch of Individual Capital Certificates and Corporate Capital Certificates is now available for subscription in order to help finance the third phase of the School’s building programme. The price is HK$5 million and the terms and conditions are the same as the first batch of capital certificates.
The Capital Certificates are intended mainly for prospective parents and students who are applying for entry in August 2017 and onwards. However, applicants for entry in August 2016, who have not yet been invited for assessment, and parents of current students will also be considered.
Individual Capital Certificates are refundable to any applicants who fail to meet the entry requirements of the School upon request.
The first batch of individual debentures, valued at HK$600,000, was fully subscribed when the School opened in 2012.
For more information about the Capital Levy, Capital Certificates and Debentures, please contact the School directly.
The different types of Capital Certificates and Debentures give different degrees of priority for assessment. However, the Capital Certificates and Debentures do not guarantee the admission of applicants. All admissions of applicants to the School are subject to satisfaction of the School’s admission criteria.
The School reserves the right to alter the types of Capital Certificates and Debentures in issue, the rights attached to the Capital Certificates and Debentures and the priority afforded to applicants thereby, and to issue further capital certificates or debentures or notes or other instruments upon such terms and conditions, with the same or different degrees of priority and with or without guaranteed admission, at any time and in any manner, in its absolute discretion.
Last updated: 18 Aug 2016 14:34