WEDNESDAY, MARCH 14, 1990
THE RESOLUTION THEREFORE PROVIDED FOR THE DISESTA ISHMENT OF THE MASS TRANSIT FUND.
Г
THE MAJOR
SIMILARLY THE NEW FUND WOULD BE ABLE TO TAKE OVE FUNCTION OF HE DEVELOPMENT LOAN FUND IN MAKING EQUITY INVESTMENTS IN THE HONG KONG HOUSING AUTHORITY.
THEREFORE, THE RESOLUTION DISESTABLISHMENT OF THE DEVELOPMENT LOAN FUND.
ALSO
PROVIDED
FOR
THF
DEVELOPMENT LOAN FUND
A NUMBER OF RESIDUAL FUNCTIONS OF THE WERE COVERED IN THE SECOND RESOLUTION CONCERNING THE NEW LOAN FUND.
IN MOVING THE SECOND RESOLUTION, SIR OPPORTUNITY WAS BEING TAKEN ΤΟ REORGANISE THE
PRESENT FUNDS.
THE PURPOSE WAS TO BRING TOGETHER LOANS DEVELOPMENT LOAN FUND, THE STUDENT LOAN FUND AND THE UNDER ONE FUND.
PIERS SAID THE STRUCTURE OF THE
MADE UNDER THE GENERAL REVENUE
"THIS RESOLUTION PROVIDES FOR THE ESTABLISHMENT OF A LOAN FUND TO ACHIEVE THIS PURPOSE AND AS A CONSEQUENCE THE DISESTABLISHMENT OF THE STUDENT LOAN FUND.
"LIKE THE FIRST RESOLUTION, THIS RESOLUTION IS CONCERNED PRIMARILY WITH ACCOUNTING ARRANGEMENTS.
AND THE
"THE ESTABLISHMENT OF THE LOAN FUND
DISESTABLISHMENT OF THE STUDENT LOAN FUND WILL IN NO WAY AFFECT THE ELIGIBILITY FOR LOANS OF THOSE WHO QUALIFY AT PRESENT OR THE AVAILABILITY OF FUNDS FOR THE PURPOSE.
"THE AUTHORITY OF FINANCE COMMITTEE TO APPROVE LOANS WILL NOT CHANGE BUT A SINGLE LOAN FUND WILL BE A MORE LOGICAL ARRANGEMENT ΤΟ ACCOUNT FOR ALL LOANS MADE BY THE GOVERNMENT, HE SAID.
[
MOTION ON FUNDING PASSED
* * * *
THE LEGISLATIVE COUNCIL TODAY
(WEDNESDAY) PASSED
PROVIDING FUNDS ON ACCOUNT TO ENABLE THE GOVERNMENT TO EXISTING SERVICES BETWEEN THE START OF THE FINANCIAL YEAR ON AND THE ENACTMENT OF THE APPROPRIATION BILL.
THE FUNDS INVOLVED AMOUNT TO $38.9 BILLION.
THE MOTION WAS MOVED BY THE FINANCIAL SECRETARY, THE PIERS JACOBS, UNDER THE PUBLIC FINANCE ORDINANCE.
A MOTION CARRY ON APRIL 1
HON SIR
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