1954-HKRS28-8-21_Part03 — Page 8

1 replant.

Valtimo f ÎNFEST Manta.

Analization al incent munka.

Certification

Iduma bor Fund.

Write-of.

Aeromntinue detalk.

12

(3) The Accountant General sball render to the Chief Officer after the closing of each month's accounts a return showing all transactions of the Fund in his accounts during the previous month.

All summa considered by the Chief Officer to be surplus to the normal requirements of the Fund shall on his request, be invested by the Accountant General in Hong Kong Government, stocks or shall be remitted to the Crown Agents for investment in such securities as are permitted for the investment of Colonial Government funds. The interest or dividende reecived on account of such investments shall be credited to the Account "Deposits-Fire Brigade Welfare Fund."

4. All investment of the Fund shall be valued at the middle market price in Hong Kong or London on the 31st March in each year, and the balanco of the Fund on thai date shall be increased or decreased as inay be required in accordance with such valuation.

Should at any time the uninvested portion of the Fund fall below a figure which in the opinion of the Chief Officer is the minimum necessary for the normal requirements of the Fund, he shall request the Accountaņi General to sell on the local market or in Lundon such part of the Fund's investments as will together with the existing uninvested portion provide an adequate working balance.

All vouchers submitted to the Accountant General in respect of 6. payments to be inside out of the Fund shall either be certified by the Chief Officer or shall have attached to them gertified tras copies of the Chiet Officer's approval for each withdrawal, In the latter event the certificates and vouchers may be signed by an officer so authorized by the Chief Offleer, The Accountant General shall pay only on the authority of the Chief Offeer as indicated above and shall be advised of the name of any officer authorized by the Chief Officer to sign on bia bekalt.

7. When a loan is granted under the authority of auction 16 of the Ordinance to a member or to a former member who has been retired, it will normally be subject to the following conditious-

() it shall be repaid in such monthly instalments as the Chief Officer may in his discretion specify, save that the number of monthly in- stalments shall not exceed twenty-four; upon default in one instalment the whole balanco outstanding shall'immediately became due;

(0) 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 it shall be deemed to be an amount due to a department of Govern- ment.

8. Ipos a recommendation of the Chief Offeer, 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 Lake effect for the purpose of accounting records alone and shall not extin- guish any right of the Fund to recovery of any such asset or debt.

0. Detailed accounts of the Fund shall be maintained by the Chief Officer, and shall show the amounts received under each of the heads of revenue set out in section 14 of the Ordinance, together with all sumns received in repayment of loans and interest thereon, interest or dividends on investments and all gums received on account of sales of investments. All disbursemente shall be recorded under the following headings-

(a) cash awards of a maximum to be fixed by the Chief Officer to the winning crews in the annual fire brigade drill competition and for providing trophies therefor;

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(b) comforts, convenience or other advantages not chargeable to the

public revenue, subdivided into-

(i) purchase of sports gear and clothing;

(i) expenses incurred on the maintenance or improvement of

playing fielda;

(iii) transport expenses of fire brigade teams or members taking

part in organized sporta;

(iv) grants or assistance to fire brigade cluba, canteens or recrea-

tion rooma;

(v) books, magazines and other periodicals;

(vi) educational expenses;

(vi) entertainment expense);

(viii) medical and dental attention not covered by the Government

medical servicea;

(ix) grants on death of verving members or pensionera;

(x) other suitable purposea under this beading;

(c) loans to members;

(d) purchase of securities in accordance with regulation 3.

10. The Accountant General shall keep the Chief Officer informed of halen of all transactions on account of the Fund's investments and the latter shall Accountant balance his accounts monthly and reconcile them with the deposit account and Director

General maintained by the Accountant General. The accounts shall be subject to of Audit. periodical audit by the Director of Audil.

11. As soon as possible after the 31st March in each year, the Chief Agngal Officer shall prepare a receipts and payments account covering the trans- accounts. actions of the Fund for the year ended on the previous 31st March, to- gether with a balance sheet showing the state of the Fund wa at the same date. The total receipts and payments of the Fund for the year shall be summarized in the former under the various headings set out in regulation $. The balance sheet ehall show the value of the Fund us on the 1st April in the preceding your, the excess of receipts over payments or payments over receipts for the year together with the appreciation or depreciation in the valuation of the Fund's investments, the total value of the Fund, the cash balance of the Fund and the market value of investments. There shall be attached to the balance sheet a detailed statement of investmanta held by the Fund at that date showing purchase price nominal value and current market value in each case.

12 After examination by the Director of Audit, the annual accounts Tabling. referred to in regulation 11 shall be laid before the Legislative Council.

Passed the Legistative Council of Hong Kong, this 11th day of August, 1954-

Deputy Clerk of Councils.

(Secretaria 22/3231/33)