100/2. I Thes
5
SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY MOVING THE VOTE ON ACCOUNT RESOLUTION
IN THE LEGISLATIVE COUNCIL ON 11th MARCH 1987
Sir,
I move the motion standing in my name in the
Order Paper.
The purpose of this motion is to seek funds on account to enable the Government to carry on existing services between the start of the financial year on 1 April 1987 and the enactment of the Appropriation Bill.
The funds on
on account sought under each subhead have been determined in accordance with paragraph four of the resolution, by reference to percentages of the provision shown in the draft Estimates. As the draft Estimates are changed from time to time, by
to time, by the Finance Committee ór under delegated powers, the provision to Thus which the percentages are applied will also change. the provision on account under each head is not constant but may vary, with every increase being matched by an equal decrease. The initial provision on account under each head is shown in a footnote to this speech. The aggregate total under all heads is fixed, however, at $16,266,785,000 and cannot be exceeded without the approval of this Council.
The resolution also enables the Financial Secretary to vary the funds on account in respect of any subhead, provided that
that these variations do not cause an excess over the amount of provision entered for that subhead in the
the draft
draft Estimates or an excess over the amount of funds on account for the head.
A vote on account warrant will be issued to the Director of Accounting Services authorizing him to make payments up to the amount specified in this motion and in accordance with its conditions. The vote on account will be subsumed upon the enactment of the Appropriation Bill, and the general warrant issued after the enactment of the Appropriation Bill will replace the vote on account warrant and will be effective from 1 April 1987.
Sir, I beg to move.