1960-HKRS28-8-27_Part04 — Page 42

Amendment

2

3. Section 5 of the principal Ordinance is amended in para- of section 5. graph (a) of subsection (1) by the deletion of the words "Director of Agriculture, Fisheries and Forestry" and the substitution therefor of the following-

Amendment

"Director of Agriculture and Forestry".

4. Section 6 of the principal Ordinance is repealed and replaced

of section 6. by the following-

Addition of now section TA.

Repeal and replacemeat

of section. 11.

**The trusts.

6. (1) The trustee shall apply the Fund in such manner as the committee may direct for the purpose of encouraging or improving agriculture in the Colony by the issue of loans to farmers, groups of farmers or persons intending to become farmers, at such rates of interest, if any, and subject to such terms or conditions as the committee may direct, or by such other means 29 may from time to time be approved by the Governor.

(2) For the purpose of subsection (1), the expression "agriculture" includes all forms of animal husbandry, poultry breeding, crop raising, fish culture and the cultiva tion of oysters for food.".

!

5. The principal Ordinance is amended by the addition after section 7 of the following new section-

**Borrowing powers,

6.

7A. The trustee may borrow such sums of money at such rates of interest and subject to such terms or conditions as the committee may from time to time direct for the furtherance of any of the purposes specified in section 6, and the capital and assets of the Fund shall be chargeable as security for the repayment thereof.".

Section 11 of the principal Ordinance is repealed and replaced by the following- **Accounts.

11. (1) The trustee shall cause proper accounts to be kept of all transactions of the Fund and shall cause to be prepared for every period of twelve months ending on the 31st day of March in each year, a statement of the accounts of the Fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the trustee,

(2) The accounts of the Fund and the signed statement of the accounts shall be audited by an auditor appointed by the Governor and the auditor shall certify the statement subject to such report, if any, as he may think fit.

(3) A copy of the signed and audited statement of the accounts together with the auditor's report, if any, and a report by the committee on the administration of the

3

Fund during the period covered by the audited accounts shall be laid on the Table of the Legislative Council not later than the 30th day of September next following the end of such period or so soon thereafter as the Governor, in his absolute discretion, may allow.".

7. Section 13 of the principal Ordinance is repealed.

Passed the Legislative Council of Hong Kong. this 21st day of September, 1960.

(Secretariat GR6/2321/55)

Shape

And

Deputy Clerk of Councils.

Repeal of section 13,