Certifica-
tion of advance.
Loans by Fund.
Write-off.
Duties of Accountant Gebota) and Director of Audit.
Accounts.
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6. All vouchers submitted to the Accountant General in resped of payments to be made out of the Fund shall either be certified by the Commissioner or shall have attached to them certified true copies of the Commissioner's approval for each withdrawal. In the latter event the certificates and vouchers may be signed by an officer so authorized by the Commissioner. The Accountant General shall pay only on the authority of the Commissioner as indicated above and shall be advised of the name of any officer authorized by the Commissioner to sign on his behalf.
7. When a loan is granted under the authority of section 19 of the Ordinance to a member or to a former member who has been retired, it will normally be subject to the following conditions--
(a) it shall be repaid in such monthly instalments as the Commis- sioner may in his discretion specify, save that the number of monthly instalments shall not exceed twenty-four; upon default in one instalment the whole balance outstanding shall imme- diately become due;
(b) it shall be limited to a maximum sum of one thousand dollars; (c) whenever it shall be necessary to recover the amount of a loan
8.
it shall be deemed to be an amount due to a department of Government.
Upoo a recommendation of the Commissioner, the Financial Secretary may authorize the writing off of any asset or any debt due to the Fund which he considers irrecoverable:
Provided that any such write-off shall take effect for the purpose of accounting records alone and shall not extinguish any right of the Fund to recovery of any such asset or debt.
9. The Accountant General shall keep the Commissioner inforn- ed of all transactions on account of the Fund's investments and the latter shall balance his accounts monthly and reconcile them with the deposit account maintained by the Accountant General. The accounts shall be subject to periodical audit by the Director of Audit.
10. (1) The Commissioner shall cause proper accounts to be kep of all transactions of the Fund and shall cause to be prepared for every period of twelve months ending the 31st day of March in each year à statement of the accounts of the Fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the Commissioner.
(2) The accounts of the Fund and the signed statement of the accounts shall be audited by the Director of Audit, who shall certify the statement subject to such report, if any, as he may think fit.
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(3) A copy of the signed and audited statement of accounts to- gether with the Director of Audit's report, if any, and a report by the Commissioner on the administration of the Fund during the period covered by the audited accounts shall be laid upon the Table of the Legislative Council not later than the 30th day of September next following the end of such period or so soon thereafter as the Governor, in his absolute discretion, may allow.
COUNCIL CHAMBER,
5th September. 1963.
(Secretariat PR6/1610/53)
Clerk of Councils,