1975-HKRS28-16-23_Part02 — Page 59

(i) in the stocks, shares, or securities of any cor- poration carrying on business either in Hong Kong or elsewhere;

(c) to purchase, hire or acquire any movable property; (d) to sell, lease or otherwise dispose of, and to charge, any of its property on such terms as it thinks fit; (e) to develop or turn to account any of its immovable property in such manner and on such terms as it thinks fitt

(f) to borrow money for the corporation's purposer and

to charge all or any of its property.

(2) The powers conferred on the corporation by sub- section (1) may be exercised either alone or jointly with opetį or more other persons.

(3) In respect of land and buildings-

(4) acquired with public money; or

(6) granted by the Government for any special purpose, prior to the commencement of this Ordinance, the powerS conferred on the corporation by subsection (1)(2), (e) and (} shall not be exercised except with the consent of the Governor in Council,".

Passed by the Hong Kong Legislative Council this 21st day of May,

HONG KONG

No. 41 of 1975

I assent.

M

N. Liha

Goverkor,

Sch June, 1975.

An Ordinance to amend the Inland Revenue Ordinance.

[ist March, 1975]

Enacted by the Governor of Hong Kong, with the advice and consent

of the Legislative Council thereof.

CONA MKE DO CENTRAL.

1. This Ordinance may be cited as the Inland Revenue (Amendment) Sbent title and [No. 3) Ordinance 1975 and shall be deemed to have come into operation on the 1st March 1975.

1975.

1.

Section 28 of the principal Ordinance is amended-

Ammendment of section 28.

(a) by deleting paragraph (a) of the proviso to subsection (1) and (Cwm. 112-1

substituting the following-

*Cop 15%) Third Schedul

Foamb Schedule.

"(a) any interest paid or payable by Government, a bank licensed under the Banking Ordinance, or a public utility company specified in the Third Schedule which accrues at a rate not exceeding such rate or rates as may be specifled in the Fourth Schedule in respect of all or any of the above classes;";

" and

(b) in subsection (2), by inserting after "Schedule” the following——

"and the Fourth Schedule, but the Fourth Schedule shall not be amended so as to specify a rate in excess of âve per cent per annum".