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Certificates of
indebtedness
Revenues and Disbursements
48.
(1) in the case of loans made by the Hong Kong
Government, be repaid, so as to reduce the
principal of the debt, and
(2) in the case of other loans, be paid into the sinking fund, or with the approval of the Governor in Council be utilised in purchasing and cancelling debentures issued by the
Port Trust, or be applied to other capital expenditure.
The Port Trust shall deposit with the Government certificates of indebtedness in such form as the Governor may prescribe representing the capital value of assets transferred to the Port Trust, and the Governor'in Council may from time to time determine the rate of interest which shall be paid by the Port Trust to the Government on such certificates of indebtedness, save only that the rate shall not exceed 3% per annum.
49.(1) All monies received by the Port Trust from whatever source derived shall be paid to the credit of such banking accounts as the Governor may from time to time direct or approve.
(2) Subject to the provisions of this Ordinance the Port Trust may make disbursements on the
requisition of the Commissioners or its authorised. officers, for the following purposes or any of them --
(a) the payment of all necessary expenses
incurred in the administration, management, and control of the ports, harbours, works, and properties under the jurisdiction of the Port Trust;
(b) the purchase of investments for a reserve
fund or sinking fund;
(c) the payment of capital expenditures;
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