Capital Levy, 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.

The 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 to, enhancement and replacement of these facilities thereafter.

CAPITAL LEVY

For pupils 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 is HK$60,000 per year per pupil. The Capital Levy is subject to annual review.

CAPITAL CERTIFICATES AND DEBENTURES

The current batch of Individual Capital Certificates and Corporate Capital Certificates are fully subscribed. No further batch of Capital Certificates is expected to be issued in the near future. The first batch of individual debentures, valued at HK$600,000, was fully subscribed when the School opened in 2012. No further batch of individual debentures will be issued in the near future.

For more information about the Capital Levy, Capital Certificates and Debentures, please contact the Director of Finance, Ms. Miranda Ng.

PRIORITY SYSTEM

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 admissions criteria. Capital Certificate and Debenture holders have priority of places that are available in the waiting pool, should their child be successful in the admissions assessments.

Priority Number	Categories
1	– Corporate Capital Certificate nominees – Individual Capital Certificate Nominees – Individual Debenture nominees – Children of staff
2	– Siblings of current students – Those applying for a boarding place
3	– Those applying from a school which is a member of the Harrow family – Pupils from overseas without a school place in Hong Kong – Returning students

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.