1957-HKRS30-8-47_Part02 — Page 29

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(4) This regulation shall be deemed to have had effect from the first day of April, 1956,"

Council CHAMBER,

17th June, 1957-

JAK

Clerk of Councils.

Approved this 19th day of June, 1957, by resolution of the Legislative Council.

Council CHAMBER,

19th June, 1957-

LJ. Sugant

Deputy Clerk of Councils.

BANK NOTES ISSUE ORDINANCE, (Chapter 65).

Resolution made and passed by the Legislative Council on the 19th day of June, 1957,

Resolved, pursuant to the proviso to section 3 of the Bank Notes Issue Ordinance, Chapter 65, that this Council hereby extends the powers of all the note-issuing banks to make, issue, re-issue and circulate notes until and including the 12th day of July, 1958.

COUNCIL CHAMBER,

19th June, 1957-

(Secretariat GRs2/2584/45)

1.J. Lazat

Deputy Clerk of Councils.

Explanatory Note.

(This Note is not part of the regulations, but is intended to indicate their general purport).

These regulations amend the Pensions Regulations by adding to them a new regulation 18C. This now regulation, which is rendered desirable by the recent revision of salaries, provides that where the pension or gratuity of an officer is computed on the basis of the average of his pensionable emoluments for the three years prior to his retirement, his pensionable emoluments for this purpose shall be taken as those which he would have enjoyed had he been subject to the new rates of pay at the beginning of that period if this is to the officer's advantage and If he has exercised his option of accepting the terms of the Salaries Revision, 1956. This new regulation is made retrospective to 1st April, 1966, the date from which the revised Balary scules have been brought into effect.

(Secretariat PR4371/48)

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