1967-HKRS29-8-34_Part02 — Page 48

Repeal and replacement of section 6.

Repeal and replacement of section T,

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3. Section 6 of the principal Ordinance is repealed and replaced by the following-

"Proceeds of lotteries.

6. (1) The proceeds of the sale of tickets in a lottery shall be paid into the Lotteries Fund as soon as practicable after the sale of such tickets.

(2) Sixty per cent, or as close to that proportion as is practicable, of the proceeds of the sale of tickets in a lottery shall be apportioned as prizes in such manner as the Committee, subject to the direction of the Governor, may determine.

(3) All expenses arising out of the conduct of a lottery or the operation of the Committee shall be paid out of the Lotteries Fund.

(4) Subject to subsection (5), the Financial Secre- tary, after making due allowance for any payments which may be outstanding under subsections (2) and (3), may appropriate from the Lotteries Fund moneys for the purpose of financing, by way of grant, loan or advance, the support and development of such social welfare services in the Colony as the Governor, after consultation with the Social Welfare Advisory Com- mittee, may approve.

(5) The amount of any appropriation and the terms and conditions of any grant, loan or advance, sball in every case be subject to the prior approval by resolution of the Legislative Council.

(6) The Legislative Council may by resolution amend subsection (2) so as to vary the proportion of the proceeds of the sale of tickets in a lottery which is to be apportioned as prizes.”.

4. Section 7 of the principal Ordinance is repealed and replaced by the following-

"Accounts.

7. (1) The Accountant General shall cause proper accounts to be kept of all transactions of the Lotteries 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 Lotteries Fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the Accountant General.

(2) A copy of the signed statement shall be laid on the table of the Legislative Council not later than

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the 31st day of December next following the end of such period or so soon thereafter as the Governor may allow.

7A. The Financial Secretary may direct that an annual supervision fee to be determined by him shall be charged against the income of the Lotteries Fund and paid into the general revenue of the Colony.".

This printed impression has been carefully compared by me with the Bill which passed the Legislative Council on the 31st day of May, 1967, and is found by me to be a true and correctly printed copy of the said BilI.

(Secretariat CR 15/3371/600)

ཁ་ས་

Deputy Clerk of Councils.