1969-HKRS30-8-59_Part02 — Page 20

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FIRE SERVICES ORDINANCE.

(Chapter 95).

FIRE SERVICES DEPARTMENT (WELFARE FUND) (AMENDMENT) REGULATIONS 1969.

In exercise of the powers conferred by section 25 of the Fire Services Ordinance, the Governor in Council has made the follow. ing regulations-----

1. These regulations may be cited as the Fire Services Department (Welfare Fund) (Amendment) Regulations 1969.

2. Regulation 7 of the principal regulations is revoked and replaced by the following-

"Loans by Fund.

7. (1) A loan granted under the authority of section 19 of the Ordinance to a member or to a former member who has been retired shall--

(a) not exceed five thousand dollars; (6) be repaid by sach monthly instalments, not exceeding forty-eight, as the Director may specify;

(c) be subject to the payment of interest at the rate of five per centum per minum, calculated monthly on the maximum balance out- standing in each month and payable one month after payment of the last instalment: and

(d) become repayable in full, with any interest due, upon default in the repayment of any monthly instalment.

(2) Notwithstanding paragraph (1) the Director may at any time waive the condition requiring pay- ment of interest on any such loan.

(3) Any part of a loan, and any interest thereon, due and unpaid shall be deemed to be a debt que to the Government and may be recovered accordingly.".

Citation.

Revocation and replace.

ment of regulation 7.

(*) "Gel "96 VKO)

COUNCIL CHAMBER,

18th March 1969.

Clerk of Councils.

Z