CONFIDENTIAL # 機密
A BILL
ΤΟ
ANNEX TO XCC(74)99
Amend the Exchange Fund Ordinance.
Enacted by the Governor of Hong Kong, with the advice
and consent of the Legislative Council thereof.
Short title.
Amendment of section 3. (Cap. 66.)
1. This Ordinance may be cited as the Exchange
Fund (Amendment) Ordinance 1975.
2.
Section 3(2) of the principal Ordinance is
amended by deleting "Any such purchases or sales of
currency shall be for immediate delivery.".
G.F. 323
Explanatory Memorandum
This Bill seeks to amend the principal Ordinance
so as to enable the Exchange Fund to enter the forward
foreign exchange market whenever it is necessary to do
so for the purpose of a fully effective regulation of the
exchange value of Hong Kong's currency in accordance
with section 3(1) of the principal Ordinance. At present,
purchases or sale of currency by the Exchange Fund must
be for immediate delivery.
CONFIDENTIAL
Attorney General.
機密