CO129-534-6 Loans for public works 24-2-1931 - 11-8-1932 — Page 12

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assured that you agree that it is necessary.

ist

12

Mr.Caine,

S. Camé

12.9-31

3477/4

The position in Hong Kong is shown in

Appendix VI.B to the 1931 Estimates, as amended

by the Resolutions passed by the Legislative

Council in July 1931 (82818/6) and I consider

that:

(a) If the S. of S. has sanctioned the

"Revised Estimated Total Cost" of the various

works and has approved of $11,427,011.23 being

met from Surplus Balances pending the raising

of a further loan, then the Secretary of State's

}

sanction is required for the amount to be

advanced within the year, but not for the

expenditure on any particular work, provided the

total expenditure on any work is kept within the

approved estimated cost for that work.

(b) If the S. of S. has not sanctioned the

"Revised Estimated Total Coat" of the various

works, then the Secretary of State's sanction

is required for the amount to be advanced within

the year for each work, and subsequently for

any variation therefrom.

4-11-31

A.). Harding

Director of Colonial Audit.