1975-HKRS28-16-23_Part03 — Page 26

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Espace An newdal roll,

Bank actoworld.

Investment of funds.

Aprons

Auditors.

Stáloma and reponia to be

ald on Lable of L-crdsladve Cowbal

(b) any moneys received by the Authority by way of grants, Joans,

donations, fees, rent or interest;

(c) all moneys derived from the sale of any property held by or on

behalf of the Authority; and

(d) all other moneys and property lawfully received by the Authority

for its purposes.

15. (1) In each dnancial year, before a date to be appointed by the Governor, the Authority shall submit to the Governor a programme of it proposed activilica and estimates of its income and expenditure for the next fionncial year:

Provided that the programme and estimates for the first financial year of the Authority shall be forwarded as soon as is practicable after the commencement of this Ordinance.

(2) The Authority may, from time to time, with the prior approval of the Governor, fix a period to be the financial year of the Authority.

16. (1) The Authority shall open and maintain an account with a bank approved by the Accountant General

(2) The Authority shall pay all moneys received by it into the account referred to in subsection (1).

17. All funds of the Authority that are not immediately required may laenm

(a) deposited on fixed deposit in any bank or savings bank nominated by the Financial Secretary either generally or in any particular case, for that purpose; or

(b) subject to the prior approval of the Financial Secretary, invested

in such investments as the Authority thinks ft.

18. (1) The Authority shall maintain proper accounts and records of all income and expenditure,

(2) After the end of each Anancial year, the Authority shall cause to be prepared statements of income and expenditure during the previous financial year and of the assets and liabilities of the Authority on the last day thereof.

19. (1) The Authority shall appoint auditors, who shall be entitled at any time to have access to all books of account, vouchers and other financial records of the Authority and to require such information and explanations thereof as they may think fit.

(2) The auditors shall audit the statements prepared under set- tion 18(2) and shall report thereon to the Authority.

20 (1) The Authority shall, within 6 months after the end of each financial year or such further time as the Governor may in any particular year allow, submit to the Governor a report on the activities of the Authority and copies of the statements prepared under section 18(2) and the report made under section 19(2).

(2) The Governor shall cause the reports and statements received by him under subsection (1) to be laid on the table of the Legislative Council

PART IV

LEVT

21, (1) A levy, to be known as the clothing industry training levy. Impositing of shall be imposed in accordance with this Ordinance on the F.O.B. value cochlea of clothing items exported.

(2) A levy imposed under subsection (1) shall be payable by the exporter of the clothing items.

Industry iradalne levy.

22, (1) The Legislative Council may by resolution prescribe the rate are of levy. of levy.

(2) The rate of levy prescribed under subsection (1) shall be based on the F.O.B. value of the clothing items exported,

(3) The rate of levy prescribed under subsection (1) shall come into effect 30 days after the publication of the resolution in the Gazette.

to make export

13. (1) Every exporter shall within 14 days after the export of Esporen of clothing items, lodge with the Director a declaration in the form clothing berla specified under section 34 stating the clothing items exported by him. declaration their F.O.A value and such other particulars as may be required in and may tewy. The form.

(2) A declaration under subsection (1) shall be lodged either in Person at such office or offices as the Director shall, by notice in the Gazerre, designate for this purpose, or by sending it by post to such address as the Director shall, by notice in the Gazette, designate for this purpose.

(3) The levy in respect of the F.O.B. value of the clothing items stated in a declaration lodged under subsection (1) shall be paid in cash or by cheque to the Director at the time of lodging such declaration and a receipt therefor shall be issued. and until such levy is paid the declaration shall be deemed not to have been lodged with the Director.

(4) Any exporter who, without reasonable excuse, fails to lodge a declaration under and in accordance with this section shall be guilty of an offence and shall be liable on conviction to a fine of $1,000,

24 (0) The Director may at any time by notice in writing, served Onector May personally or sent by post, require an exporter who has lodged with require

particulare in tim a declaration under section 23 to verify any particulars stated in declarations the declaration to his satisfaction, either by the production of docu- be verified. mentary evidence or by statutory declaration or other means.

(2) Any person who, without reasonable excuse, fails to comply with a notice under subsection (1) within 14 days after the notice is served or seat, or within such further time as the Director may in any case aflow, shall be guilty of an offence and shall be liable on conviction to a fine of $5,000.

(3) Where a person is charged under subsection (2) with the offence of failing to comply with a notice under subsection (1), the court dealing with the charge may, whether or not it convicts him of the offence, order him to comply with the notice within such period as may be specified in the order.

(4) Without prejudice to the law relating to contempt of court. any person, who, without reasonable excuse, fails to comply with an order made under subsection (3) shall be guilty of an offence and shall be lable on conviction to a fine of $5,000 and, commencing with the day