39
WEDNESDAY, JULY 19, 1989
REVENUE ACCOUNT AND MAJOR FUNDS WERE PUBLISHED IN THE GOVERNMENT GAZETTE, HE SAID.
THE MONTHLY ACCOUNTS OF THE GENERAL
HONG KONG AND THE FINAL ACCOUNTS OF
WHICH DIRECTOR OF ACCOUNTING SERVICES' REPORT LEGISLATIVE COUNCIL IN THE AUTUMN OF EACH YEAR.
THE
WERE PRESENTED IN THE
LAID WAS
BEFORE THE
ACCOUNT AND MR NENDICK SAID,
"THIS REPORT SHOWS DETAILS OF THE GENERAL REVENUE THE VARIOUS FUNDS AS WELL AS A CONSOLIDATED ACCOUNT,
||
IN THE ACCOUNTING POLICIES ADOPTED
OF BALANCES, APPLICATION
"IT ALSO EXPLAINS THE ACCOUNTS, SIGNIFICANT ITEMS AND THE INCLUDING THE FISCAL RESERVE.
THAT SINCE NEITHER IN THIS CONNECTION, MR NENDICK NOTED GENERAL REVENUE NOR THE EXCHANGE FUND WAS A SEPARATE LEGAL ENTITY, HAD BEEN DETERMINED THAT THE TRANSFER OF MONEY FROM ONE TO THE DID NOT CONSTITUTE A BORROWING.
THE
IT
OTHER
PROVISIONS IN OF THE FINANCIAL FUND, SUCH THE
"THE TRANSFER, THEREFORE, IS NOT SUBJECT TO THE THE EXCHANGE FUND ORDINANCE RESTRICTING THE POWERS SECRETARY WHEN HE BORROWS FOR THE ACCOUNT OF THE EXCHANGE
OF BORROWING LIMIT AS THE
$50 BILLION IN SECTION ORDINANCE, HE SAID.
"I
OF 3(4)
MR NENDICK ALSO POINTED OUT THAT THE BORROWING LIMIT
ON COUNCIL
MARCH RAISED BY RESOLUTION IN THE LEGISLATIVE WITH THE APPROVAL OF THE SECRETARY OF STATE.
WAS LAST 11,
1987
BE
ΤΟ RAISED THE FISCAL
THEN IT WAS AGREED
THAT THE LIMIT HAD TO ACCOMMODATE FURTHER TRANSFERS FROM THE GENERAL REVENUE AS RESERVE GREW.
BILLS HAS LIMIT," MR NENDICK
LEGAL POSITION CARRIED "SUBSEQUENT EXTENSIVE RESEARCH ON THE OUT IN CONNECTION WITH THE PROPOSAL TO ISSUE EXCHANGE FUND INDICATED THAT SUCH TRANSFERS FALL OUTSIDE SAID.
THIS
DUAL LANGUAGE PROFICIENCY NOT A GENERAL NEED
* * * * *
THE
ATTORNEY GENERAL,
THE MAJORITY OF LAWYERS WILL NOT HAVE TO BE PROFICIENT IN
TOWARDS BILINGUAL ENGLISH AND CHINESE DESPITE THE MOVE
MATHEWS, THE HON JEREMY LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
BOTH
LEGISLATION,
INFORMED
THE
THIS WAS
AND THE TEXT LANGUAGE
WERE DECLARED ΤΟ BE TO A QUESTION
BECAUSE BOTH THE ENGLISH CHINESE LANGUAGE TEXT OF A BILINGUAL ORDINANCE EQUALLY AUTHENTIC, MR MATHEWS SAID IN A WRITTEN REPLY FROM THE HON PETER WONG.
"ACCORDINGLY,