20 Jul 91
FE/1129 C1/8
Article 101. The Macao SAR government may employ Portuguese or other foreign nationals previously serving in the public service in Macao, or those holding permanent regional identity cards, as public servants in government departments at all levels except as prescribed by other provisions of this Law.
The Macao SAR government may also employ Portuguese or other foreign nationals as advisers or to fill professional and technical posts in government departments.
These foreign nationals will be employed only in their individual capacities and will be responsible to the government of the Region.
Article 102. The appointment and promotion of public servants will be on the basis of their qualifications, experience and ability. Macao's previous system of employment, discipline, promotion and normal advancement for the public service will be basically maintained but will be improved corresponding to social development in Macao.
Section 7: Allegiance Pledge
Article 103. The Chief Executive, principal officials, members Executive Council and Legislative Council members, judges and procurators must: Uphold PRC law and the Macao SAR Basic Law; be dedicated to their duties; be people of integrity, serve the Macao SAR wholeheartedly, and must be sworn into office according to law.
Article 104. The Chief Executive, principal officials, Legislative Council president, president of the Court of Final Appeal and chief procurator must pledge allegiance to the PRC when taking office.
Chapter V: Economy
Article 105. The Macao SAR will, in accordance with law, protect the rights of individuals and legal persons to acquire, use, dispose of, and inherit property and their rights to compensation for lawful deprivation of their property.
Such compensation will correspond to the real value of the property concerned at the time and will be freely convertible and paid without undue delay.
The ownership of enterprises and investments from outside the region will be protected by law.
Article 106. The Macao SAR will have independent finances.
The Macao SAR will use its financial revenues exclusively for its own purposes and they will not be handed over to the central people's government.
The central people's government will not levy taxes in the Macao SAR.
Article 107. The Macao SAR will follow the principle of keeping expenditure within the limits of revenues in drawing up its budget and strive to achieve a fiscal balance, avoid deficits, and keep the budget commensurate with the growth rate of its gross domestic product.
Article 108. The Macao SAR will practise an independent taxation system.
The Macao SAR will, taking the low tax policy previously pursued in Macao as reference, enact laws itself own concerning types of taxes, tax rates, tax reductions, allowances and exemptions, and other taxation matters. Franchises will be prescribed by law separately.
Article 109. The monetary and financial systems in the Macao SAR will be prescribed by law.
The Macao SAR government will, on its own, formulate monetary and financial policies, safeguard the free operation of financial business and financial markets, regulating and supervising them according to law.
Article 110. The pataca, as the legal tender in the Macao SAR, shall continue in circulation.
The authority to issue Macao currency will be vested in the Macao SAR government. The issue of Macao currency must be backed by a 100% reserve fund. The Macao currency issuing system and the reserve fund system will be prescribed by law.
The Macao SAR government may authorize designated banks to exercise, or continue to exercise, the operational function of issuing Macao currency.
Article 111. No foreign exchange control policies will be applied in the Macao SAR and the pataca will be freely convertible.
The Macao SAR government will safeguard the free flow of capital within, into, and out of the region.
Article 112. The Macao SAR will maintain the status of a free port and will not impose any tariff unless otherwise prescribed by law.
Article 113. The Macao SAR will pursue the policy of free trade and safeguard the free movement of goods, intangible assets, and capital.
Article 114. The Macao SAR will be a separate customs territory.
The Macao SAR may, using the name "Macao, China", participate in relevant international organizations and international trade agreements (including preferential trade arrangements), such as GATT, and arrangements regarding international trade in textiles.
Export quotas, tariff preferences and other similar arrangements, which have been obtained by the Macao SAR will be enjoyed exclusively by the region.
Article 115. The Macao SAR has the right to issue its own certificates of origin for products in accordance with prevailing rules of origin.
Article 116. The Macao SAR will protect the free operations of industrial and commercial enterprises according to law and, on its own, formulate policies for industrial and commercial development.
The government of the Macao SAR will improve the economic environment and provide legal guaranteea for promoting industrial and commercial development, encouraging investments and technological progress, and developing new industries and new markets.