A 62
[Subsidiary]
Power of Governor to require retirement in lieu of punishment. L.N. 242/83.
L.N. 30/82.
Maintenance of Fund, L.N. 16/77. L.N. 30/82. L.N. 213/86.
Investments. G.N.A. 68/61. L.N. 16/77. L.N. 213/86. L.N. 65/86.
Valuation of investments.
Realization of investments. L.N. 16/77.
Temporary advances to the Fund. L.N. 16/77.
CAP. 234]
Prison Rules
[1986 Ed.
255K. Notwithstanding anything in these rules, where the Governor is of the opinion that any officer or other person employed in the prisons who has been found guilty of or who has pleaded guilty to a disciplinary offence does not deserve to be punished but the proceedings have disclosed grounds for requiring him to retire in the public interest, the Governor may without further proceedings require him to retire in the public interest.
PART VI
CORRECTIONAL SERVICES DEPARTMENT WELFARE FUND
256. (1) All moneys due to the Correctional Services Department Welfare Fund (hereinafter referred to as the Fund) as prescribed by section 22 of the Ordinance shall be paid in full to the Director of Accounting Services who shall credit them to an account entitled "Deposits--Correctional Services Department Welfare Fund".
(2) The Director of Accounting Services shall render to the Commissioner before the tenth day of each month a return showing all transactions of the Fund in his accounts during the previous month.
257. All sums considered by the Commissioner to be surplus to the normal requirements of the Fund shall at his request-
(a) be invested by the Director of Accounting Services in such securities or placed on deposit in such manner in Hong Kong as the Financial Secretary may from time to time approve for that purpose; or
(b) be remitted to the Crown Agents for investment in such securities or for deposit in such manner as the Secretary of State may from time to time approve for that purpose, and the dividends or interest accruing from such investments or deposits shall be credited to the account specified in rule 256.
258. All investments of the Fund shall be valued at the middle market price in London on 31 March in each year, and the balance of the Fund on that date shall be increased or decreased as may be required in accordance with such valuation.
259. Should at any time the uninvested portion of the Fund fall below a figure which in the opinion of the Commissioner is the minimum necessary for the normal requirements of the Fund, he shall request the Director of Accounting Services to sell on the local market or in London such part of the Fund's investments as will together with the existing uninvested portion provide an adequate working balance.
260. Pending the realization of the proceeds of sale of any investments as mentioned in rule 259, the Director of Accounting Services may with the prior approval of the Financial Secretary