1954-HKRS29-8-21_Part02 — Page 24

Loans by Fund.

Bad debts.

Accounting details.

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259. When a loan is granted under the authority of section 24 of the Ordinance to a subordinate officer or other persan employed in the prisons who is serving or who has retired on pension or gratuity, it will normally be subject to the following conditions-

(a) it shall be repaid in such monthly instalments as the Commissioner may in his discretion specify, save that the number of monthly instalments shall not exceed twenty- four: Provided that upon default in one instalment the whole balance outstanding shall immediately become due;

(B) it shall be limited to a maximum sum of $800;

(c) whenever it shall be necessary to recover the amount of a loan it shall be deemed to be an amount due to a depart- ment of Government.

280. Upon the recommendation of the Commissioner 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 take effect for the purpose of accounting records alone and shall not extinguish any right of the Fund to recovery of any such asset or debt.

281. Derailed accounts of the Fund shall be maintained by order of the Commissioner, and shall show the amounts received under each of the heads of revenue set out in section 24 of the Ordinance, together with all sums received in repayment of loans and interest thereon, interest or dividends on investments and all sums received on account of sales of investments. All disburse- ments shall be recorded under the following headings-

(a) rewards to subordinate officers and other persons employed in the prisons for extra services rendered by them }

(b) comforts, convenience or other advantages not chargeable

to the public revenue, subdivided into-

(1) purchase of sports gear and clothing;

(ii) expenses incurred on the maintenance of im- provement of playing fields;

(1)

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transport expenses of prison teams or subordinate officers or other persons employed in the prisons taking part in organized sports;

(iv)

grants or assistance to prison clubs, canteens or recreation rooms;

(v) books, magazines and other periodicals; (vi) educational expenses;

(vii) entertainment expenses;

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

(ix) grants on death of serving subordinate officers and other persons employed in the prisons or pensioners;

(x) other suitable purposes under this heading; (c) loans to prison officers;

(d) purchase of securities in accordance with rule 254.

262. The Accountant General will keep the Commissioner Duties of informed of all transactions on account of the Fund's investments Accountant

General and the latter will balance his accounts monthly and reconcile them and sodit. with the deposit account maintained by the Accountant General. The accounts will be subject to periodical audit by the Director of Audit.

accounts.

283. As soon as possible after the 31st March in each year Annual the Commissioner will cause to be prepared a receipts and pay- ments account covering the transactions of the Fund for the year ended on the previous 31st March, together, with a balance sheet showing the state of the Fund as at the same date. The total receipts and payments of the Fund for the year shall be sum- marized in the former under the various headings set out in rule 261. The balance sheet shall show the value of the Fund as on the 1st April in the preceding year, 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 investments held by the Fund at that date showing purchase price nominal value and current market value in each case.