Saw this film in the 80’s. In English, in colour. Set at a Boy’s school of some kind. I remember at one point there was a globe used as a cookie-jar, and there were lots of hidden little compartments around the dorm, and one of the guys had a massive Swiss army knife that had a tool for every occasion.
The Double McGuffin (1979) – http://www.imdb.com/title/tt0079070/
Skip to 0:40 of the trailer to see the cookie jar globe.