Chapter 3
Finance
Article 54
The territory of Macau, as a creditor and debtor, shall act in accord-
ance with the relevant laws and honour its debts and undertakings from contracts.
The Macau Government shall have the power to handle its assets and revenue.
Article 55
The assets of the territory of Macau shall consist of open land,
confirmed non-private or public land, and other chattels and fixed assets not
belonging to any one else and within the territory, and all properties,
outside the territory, lawfully acquired by purchase or originally belonged to
itself, particularly involving proifts and ́all other forms of income.
Article 56
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The territory's finance shall be controlled by the budget book prepared
as planned in accordance with the law.
2)
The budget book shall be a single volume, including all the revenue
and expenditure, together with the various foundation funds and budgets from offices
separately
with autonomous power, where such budgets shall be prepared in detail as
stipulated by law.
3)
The budget book shall map out sufficent revenue to cope with the
expenditure.
Article 57
The budget book shall be prepared every year as instructed by the Governor
in accordance with the law.
2) If, for whatever reason, the new budget as contained in the budget book
cannot be enforced at the commencement of the financial year, then during an
unspecified period or anytime within new financial year, the collection of all
stipulated revenue shall be continued as in accordance with the existing law,
while payment for recurrent expenditure, at the rate of one-twelveth of the last
financial year's budget, and long term payment as well as new obligations
/approved