S
12. Accounts
(1) The Authority shall cause proper accounts and records to be kept of all of its financial transactions and shall, as soon as practicable after the end of; each financial year, cause to be prepared for that financial year a statement of the accounts of the Authority.
(2) A statement of accounts prepared pursuant to subsection (1) shau include an income and expenditure account and a balance sheet
13. Audit
(1) The Authority shall, as soon as practicable after the end of each financial year, submit the statement of the accounts prepared for that year under section. 12 to a professional accountant (to be appointed by the Authority) for audit and such accountant shall also prepare a report on the accounts and send the. report to the Authority which shall, as soon as practicable, send a copy of the report and a copy of the statement of accounts. (as so audited) to the Governor..
(2) A copy of the audited. statement of accounts sent to the Governo- under subsection (1) together with a copy of the professional accountant report thereon shall be laid on the table of the Legislative Council.
(3) In this section "professional accountant" has the meaning assigned to it by section 2 of the Professional Accountants Ordinance (Cap. 50).
(4) Nothing in this section shall be construed as affecting section 15 of the Audit Ordinance (Cap. 122).
14. Investment of funds
Funds of the Authority which are not immediately required may be invested by the Authority in such manner as the Authority shall consider appropriate.
15. Borrowings
(1) Subject to subsection (3), the Authority may, on such terms and conditions as it thinks fit, borrow or otherwise raise money (including mone
a currency other than the currency of Hong Kong) and charge all or any part of its property as security therefor.
(2) In exercising the powers conferred by section 8(1)(a) the Authority may acquire property under an agreement providing for the payment of the whole or part of the purchase price by instalments.
(3) The powers conferred by subsection (1) may only be exercised to provide the Authority with such sums or credits as it may require for-