1962-HKRS30-8-53_Part04 — Page 36

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PREVENTIVE SERVICE ORDINANCE, 1963.

(No. 25 of 1963).

PREVENTIVE SERVICE (WELFARE FUND)

REGULATIONS, 1963.

Io exercise of the powers conferred by section 22 of the Preventive Service Ordinance, 1963, the Governor in Council has made the following regulations-

1. These regulations may be cited as the Preventive Service Chatoo. (Welfare Fund) Regulations, 1963.

1 (1) All moneys due to the Preventive Service Welfare Fund Maintenance (barcinafter referred to as the Fund) as prescribed by section 18 of the of Fund, Ordinance shall immediately be paid in full to the Accountant General who shall credit them to an account entitled "Deposits-Preventive Service Welfare Fund".

(2) The Accountant General shall render to the Commissioner after

the closing of each month's accounts a return showing all transactions

of the Fund in his accounts during the previous month.

3. All sums considered by the Commissioner to be surplus to the Investment. normal requirements of the Fund shall at his request-

(0) be invested in such securities or deposited in such manner in the Colony by the Accountant General as the Financial Secre- tary may from time to time approve for that purpose; or

(6) be remitted to the Crown Agents for investment in such securities or deposit in such manner as the Secretary of State may from time to time approve for that purpose,

and the dividends or interest accruing from such investments or deposits

shall be credited to the account referred to în regulation 2.

4. All investments of the Fund shall be valued at the middle valuation of market price in Hong Kong or London on the 31st March in each year,

and the balance of the Fund on that date shall be increased or decreased

s may be required in accordance with such valuation.

investments.

meni..

5. Should at any time the uninvested portion of the Fund fall Realization below a figure which in the opinion of the Commissioner is the minimum of invest ccccssary for the normal requirements of the Fund, he shall request the Accountant General to sell on the local market or in London such part

of the Fand's investments as will together with the existing uninvested portion provide an adequate working balance.