1955-HKRS29-8-22_Part04 — Page 11

Power of Com- missioner to issue

tax reserve certificates.

3. (1) The Commissioner is hereby empowered to issue tax reserve certificates of such denominations and subject to such conditions as the Governor may prescribe by rules.

(a) The certificates shall, subject to such conditions as the Governor may prescribe by rules, be accepted by the Commis- sioner, together with any interest due thereon, in payment by the holder thereof of any amount due by him in respect of any, or all, of the taxes specified in the Schedule, the assessment and collection of which are vested in the Commissjoner.

(3) The Governor may by order, published, in the Gazette amend the Schedule.

Method of 4. (1) All moneys received for the purchase of certificates accounting

issued under this Ordinance shall be paid by the Commissioner for moneys received for into an account in the Treasury to be called "Deposits-Tox purchase of Reserve Certificates", and the principal moneys required for the certificates, redemption of the certificates shall be paid by the Commissioner

out of such account.

tax reserve

and manner

of

redemption

of

(2) Any interest which may become, due and payable in certificates respect of any certificate shall be charged upon and paid out of payment of the general revenue and assets of the Colony.

and

interest.

HONG KONG

No. 67 or 1955-

SCHEDULE.

1. Salaries Tax charged under section 8 of the Inland RevENUE

Ordinance, Chapter 112.

Passed the Legislative Council of Hong Kong, this 21st day of December, 1955.

Deputy Clerk of Councils.

(Secretariat 1/331/54)

I assent.

Mhandou

fighermor.

32nd December, 1955.

An Ordinance to make provision for the establishment of a trust fund to be known as the Education Scholarships Fund and for the due administration thereof and for purposes connected with the matters aforesaid.

WHEREAS—

[23rd December, 1955.]

(1) Before the outbreak of the Pacific War sums of money given by donors for the payment of scholarships to pupils of schools in the Colony were held by the Accountant General in a fund entitled "the Education Scholarships Fund":

(2) The records of the Department of Education were lost as a result of the Japanese occupation of the Colony and all the conditions of award of such scholarships cannot now be ascertained: