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WEDNESDAY, JANUARY 29, 1986
* INITIAL PAYMENTS FOR UNALLOCATED STORES WILL BE CHARGED
TO THE ACCOUNT, AND PAYMENTS MADE BY SUBVENTED ORGANISATIONS AND GOVERNMENT DEPARTMENTS ON ISSUE TO THEM OF SUCH STORES WILL BE CREDITED TO IT;
* THE DIFFERENCE BETWEEN THESE CREDITS AND DEBITS WILL
REPRESENT THE STOCK IN HAND, OR THE LEVEL OF INDEBTEDNESS. THIS DEBT WILL BE A CHARGE TO THE GENERAL REVENUE BALANCE, SO CLAUSE 6 PROVIDES THAT THE AMOUNT OF SUCH DEBT SHOULD NOT EXCEED $200 MILLION. THIS LIMIT IS SET AT A LEVEL ADEQUATE FOR SEVERAL YEARS OPERATION OF THE ACCOUNT TO AVOID THE NEED FOR REGULAR APPROACHES TO THIS COUNCIL TO REVISE IT. CLAUSE 6 ALSO PROVIDES THAT THE FINANCIAL SECRETARY MAY SET A LOWER LIMIT IN THE MEANTIME TO ENSURE PROPER CONTROL, AND
* AS INITIAL PAYMENTS FOR UNALLOCATED STORES WILL BE MADE FROM PUBLIC MONEYS, CLAUSE 5 PROVIDES FOR THE FINANCIAL SECRETARY TO LIMIT THE TOTAL AMOUNT OF SUCH PAYMENTS.
LEGCO DEALS WITH SIX BILLS
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THE JURY (AMENDMENT) BILL 1986 WAS PASSED IN THE LEGISLATIVE COUNCIL TODAY.
FIVE OTHER BILLS THE INLAND REVENUE (AMENDMENT) BILL 1986, THE LABOUR TRIBUNAL (AMENDMENT) BILL 1986, THE LAW AMENDMENT AND REFORM (CONSOLIDATION) (AMENDMENT) BILL 1986, THE FATAL ACCIDENTS BILL 1986 AND THE MASS TRANSIT RAILWAY (LAND RESUMPTION AND RELATED PROVISIONS) (AMENDMENT) BILL 1986 WERE READ A SECOND TIME AND DEBATE ON THEM WERE ADJOURNED.
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THE MEETING WAS ADJOURNED TO FEBRUARY 5.
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