DEVELOPMENT FUND.
Resolution made and passed by the Legislative Council on the 31st day of July, 1957-
WHEREAS
(1) on the 19th day of September, 1951, the Legislative Council by resolution published as Government Notifica- tion No. A. 169 in Supplement No. 2 to the Gazette of the 21st September, 1951, established a Development
Fund
(2) by the Custodian of Property (Termination of Functions) Ordinance, 1937, (hereinafter referred to as the Ordinance) certain property, as therein mentioned, held by or in the custody, supervision or control of the Custodian of Property or by or in the name of any person in trust or otherwise for the Custodian of Property by virtue of or arising out of the provisions of the Custodian Proclamation, 1945, (hereinafter referred to as the assets) became vested in accordance with the provision of the Ordinance in the Crown absolutely.
Now, THEREFORE, BE IT RESOLVED that a sum of ten million dollars only be appropriated to the Development Fund out of the assets vested in the Crown by the Ordinance.
COUNCIL CHAMBER,
31st July, 1957-
(Secretariat GR3/3691/51)
1. LAT
Deputy Clerk of Councils.