Run Run Shaw as chairman. In December 1988, Dr. Woo was made a permanent member of the board. Sir Run Run was elected honorary chairman and permanent member of the board in December 1991, and was succeeded by Dr. Ho Tim as chairman. Dr. Ho Tim retired from this position in June 1995, and is now a permanent member of the board. The current elected chairman is Mr. Shum Choi- sang. An endowment fund was established in 1973 under the direction of the board of trustees. It provides essential financial support to many projects and schemes organized by the college, benefiting both students and staff members. The student union of the college was first inaugurated in 1963 as a statutory body to represent the interests of the students of the college and provide them with various services. With financial support from the University and the endowment fund of the college, a wide range of extracurricular activities and intellectual exchange projects are organized every year. In 1999–2000, a total of 2,222 students were assigned to United College, of whom 942 were male and 1,280 were female. Shaw College Named after its patron, Shaw College was made possible by the generosity of Sir Run Run Shaw, chairman of the Shaw Foundation (Hong Kong) Ltd., which donated HK$110 million to the University for the founding of its fourth constituent college. An ordinance which gave legal effect to this new development in the University was passed by the Legislative Council in July 1986, and became law on 1st August of the same year. A Board of Trustees of Shaw College then came into being and helped chart the course of the college’s development in collaboration with a planning committee appointed by the University Council. Chaired by the former vice-chancellor, Prof. Ma Lin, the planning committee was in turn advised by Dr. Lee Quo-wei, Dr. T.K. Ann, Mr. H.J. Shen, and Mr. Louis Page.