Incorpora- tion.
Powers and
duties of the
Provisional Authority.
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(2) A member of the Provisional Authority may at any time resign his office by notice in writing addressed to the Finan- cial Secretary.
(3) The Provisional Authority shall have power to regulato its own procedure.
(4) The chairman of the Provisional Authority shall preside at meetings of the Provisional Authority and in his absence such member shall preside as the members present select.
*. The Mass Transit Railway Provisional Authority shall be a body corporate with perpetual succession and a common seal and shall be capable of holding and disposing of all kinds of property, of suing and being sued and of doing and suffering all such other acts and things as bodies corporale may lawfully do and suffer.
5. Subject to section 8, the Provisional Authority shall do all such things as are necessary or advantageous and proper in the planning and establishment of a mass transit railway in Hong Kong for the conveyance of passengers and may in particular for those purposes--
(a) appoint on such terms and conditions as it thinks fit such staff (including officers designate of the proposed Mass Transit Railway Corporation) as the Provisional Authority considers necessary for the initial stages of the establishment of the railway;
(b) enter into arrangements with persons, firms or agencies
for the supply of services or facilities;
enter into arrangements with public utility undertakings for the alteration and diversion of apparatus belonging to or maintained by such an undertaking;
(d) make use of the personnel, facilities and services of any department of the Government to any extent not incompatible, in the opinion of the Financial Secretary, with the administration of such department;
(e) delegate to any member of the Provisional Authority, to the extent provided in the resolution of delegation, any of the powers conferred by paragraph (a) or (c).
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6.
of-
The resources of the Provisional Authority shall consist Resources
of the Provisional
(a) such sums as may be available in the Mass Transit Authority.
Fund established by resolution of the Legislative Coun- cil:
(8) such sums as, with the approval of the Financial Secretary, the Provisional Authority may borrow by way of bank overdraft; and
(c) such credits as may be extended to the Provisional Authority in respect of goods purchased from outside Hong Kong.
7. (1) The Provisional Authority shall keep. under the Accounts general direction of the Accountant General, proper accounts and and state- other records and shall prepare in respect of each financial year
a statement of accounts which, after audit and report by the Director of Audit, shall be furnished to the Governor.
(2) The Financial Secretary shall without delay lay a copy of every such statement and report on the table of the Legisla- Live Council.
*.
metly.
Governor
(1) The Governor may give such directions as he thinks Power of the fit, either generally or in any particular case, with respect to to give the exercise or performance by the Provisional Authority of any directions. power or duty under this Ordinance.
(2) The Provisional Authority and every public officer shall in the exercise or performance of any power or duty under this Ordinance, comply with any directions given by the Governor under subsection (1).
9.
Section 20(2) of the Companies Ordinance is amended Amendment
as follows-
(a) by deleting the full stop at the end of paragraph (†
and substituting the following-
*; or": and
(b) by adding after paragraph ( the following-
"(g) contains the words "Mass Transit"", "Under- ground Railway", or other words likely in the opinion of the Registrar to suggest connexion with the proposed Mass Transit Railway.”.
of Com- panies Ordinance. (020. 17)