1985 Ed.]
Capital Works Reserve Fund
[CAP. 2
A L
[Subsidiary]
CAPITAL WORKS RESERVE FUND
RESOLUTIONS OF THE LEGISLATIVE COUNCIL
I. Resolution made and passed by the Legislative Council on 20 January 1982.
2.
RESOLVED
(a) that there will, with effect from 1 April 1982, be established a fund styled the Capital Works Reserve Fund;
(b)-(f) [ceased to apply, see paragraph 2 (g)]
Resolution made and passed by the Legislative Council under section 29(1) of the Public Finance Ordinance on 27 July 1983.
3.
RESOLVED with respect to the Capital Works Reserve Fund established by resolution made and passed by this Council on 20 January 1982 and deemed under section 29(3) of the Ordinance to have been established in accordance with that section, that-
(a)-(f) [ceased to apply, see paragraph 3 (g).]
(g) paragraphs (b), (c), (d), (e) and (f) of the resolution made and passed by this Council on 20 January 1982 and published in the Gazette as Legal Notice No. 18 of 1982, which relate to the composition, expenditure and administration of the Fund, cease to apply.
Resolution made and passed by the Legislative Council under section 29(1) of the Public Finance Ordinance on 15 May 1985.
RESOLVED with respect to the Capital Works Reserve Fund established by resolution made and passed by this Council on 20 January 1982 and published in the Gazette as Legal Notice No. 18 of 1982, and for the purpose of giving effect to arrangements for implementing paragraph 6 of Annex III to the Joint Declaration of the Government of the United Kingdom and the Government of the People's Republic of China signed in Peking on 19 December 1984, that with effect from the entry into force of the Joint Declaration
(a) the Fund be administered by the Financial Secretary, who may delegate his power of administration to other public officers;
(b) the Fund comprise a suspense account, a works account and a reserve account;
(c) there be credited to the suspense account--
(i) premium income obtained from land transactions covered by paragraph 6 of Annex III to the Joint Declaration;
L.N. 18/82.
L.N. 250/83. (Cap. 2.)
L.N. 131/85. (Cap. 2.)
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