:
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1.
LEGISLATIVE
COUNCIL
Meeting to be held on Wednesday, 22nd October, 1958 at 2.30 p.m.
ORDER OF BUSINESS
CONFIRMATION OF MINUTES OF MEETING HELD ON 1ST CCTOBER, 1958.
2.
FARERS TO BE LAID.
3.
GOVERNMENT BUSINESS.
M
(1) Administration of Justice (Summary Offancas) Ordinance,
1955 - Resolution,
The Attorney General to move the following resolution -
Resolved, pursusat to section 11 of the Administration of
Justice (Summary Offences) Ordinance, 1955, that the duration of the said Ordinance be extended for the term of one year with affect from the 28th October, 1958.
(2) Resolution regarding the Development Loan Fund.
The Financial Secretary to move the following resolution :-
Resolved
1. that with effect from the Tat November, 1958, there shall be established a fund styled the Development Loan Fund;
2. that the Fund or any part of it may be held in Hong Kong
dollars or in sterling and shall be administered by the Financial Secretary and may be invested in such securities aa may be approved by the Governor;
3. that there shall be arcdited to the Fund
(a) the assets of the Development Fund and of the Local
Loans Fund, as on the 1st November, 1958, whether in the form of gash, lavastments, loans, advancÓ S or otherwise;
(b) such appropriations from the revenues or other funda of the Colony as may be approved by this Council; (c) all suma received by way of repayment of loans or
advances granted from the Fund;
(a) all sums received by way of interest or dividends on
investments, depoaits, loans or advances of the Fund;
4. that the Fund shall adsunt all the liabilities of the
Development Fund and of the Local Loans Fund as from the 1st November, 1958;
5. that the Financial Secretary may from time to time appropriate
from the Fund monies for the purpose of financing by loans or advances such schemes of development within the Colory as may be approved by the Governor, provided that the amount of appropriation, and the terms and conditions of the loan or advance, shall in every case be subject to the prior approval of the Finance Committee of this Council;
6. that the Development Fund and the Local Loans Fund shall be
closed with effect from the 1st November, 1958.
F. T.0.