GOVERMENT HOUSE HONG KONG.
FRI 12 NOW 93 08:21
PG.10
CONFIDENTIAL
and the General Loan and Stock Ordinance, cap. 72.
corporate referred to in the 1979 Act.
This is the body
1.
The
Crown Agents provide the following services
to Hong
Kong :
(a)
The Financial Secretary may borrow by means of
advances from the Crown Agents or from any bank by means of a fluctuating overdraft (see s.27 (2) of the Public Finance Ordinance (Cap. 2));
(b)
The Crown Agents may from time to time raise any sum. of money by debentures or by stock on behalf of the
Hong Kong Government as authorised by various
Ordinances (5.3 of the General Loan and Stock --Ordinance (Cap. 72));
::
(c) The Crown Agents are
authorised for the purpose of
forming a sinking fund to place at interest or invest in the purchase of such securities as may be approved by the Secretary of State moneys remitted to them by the Hong Kong Government (s.29 of Cap. `72);
(d) The Governor whenever authorised by a resolution of the Legislative Council may request the Crown Agents to
borrow the sum So authorised by the issue in London of Hong Kong Government Treasury bills (s.2 of the Hong Kong Treasury Bills (London) Ordinance (Cap. 75));
CONFIDENTIAL