CO129-601-1 Salaries Commission- currency basis of emolument 9-1-1948 - 5-6-1948 — Page 59

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General Order 100.

100.-(1)

Rates of Exchange.

The average of the daily opening demand rates of exchange on London published in the Colony by the Hong Kong and Shanghai Banking Corporation during each period from the 16th of one month to the 15th of the following month will be determined by the Treasurer, and the average rate so determined in respect of each period as aforesaid will be the Treasury rate and will be the rate for and govem ing the payment in the Colony of all salaries and any arrears of salaries of sterling-paid officers, whether per forming resident service or otherwise, during the month following such je rioä.

(2)

Sterling-paid officers on leave, whose salaries would normally be paid out of the Colony, may elect to draw salary locally, in which case payment will be made in collers at the Treasury rates and times applicable if such officers were performing resident service.

(3)

This order is subject to variation at the discretion of the Government if and when the Treasury rate is not within the following limits, that is to say, one shilling to the dollar, and two shillings to the dollar.