1975-HKRS28-16-23_Part02 — Page 54

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EORG FDNG

No. 39 of 1975

I assol.

سلا

M, Mkh

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Governor.

22nd May, 1975.

An Ordinance to make provision for the raising of loans and for matters

connected therewith.

[23rd May, 1975]

Enacted by the Governor of Hong Kong, with the advies and consent of the Legislative Council thereof.

1.

This Ordinance may be cited as the Loans Ordinance 1975.

Short dide.

Interpretation.

1. In this Ordinance, unless the context otherwise requires—

"borrow" includes the power to draw upon a credit facility;

"lender" means any person from whom the Government borrows money

under this Ordinance,

1 (1) The Goverment may, in such manner and on such terms Power ke and subject to such conditions as may be agreed between the Govern, benow. ment and any person, borrow from such person such sum or sume and for such purposes as may be approved by resolution of the Legislative Council.

(2) Any agreement between the Government and a lender in respect of sums borrowed under the powers conferred by subsection (1) shall be tade in the name of the Government of Hong Kong and may be signed on behalf of the Government by the Financial Secretary, or by any person authorized by him in writing.