Estimates-1970 — Page 331

PART III - EXPLANATORY NOTES ON APPENDICES I-VI

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APPENDIX I — SALARY CONVERSION TABLE

A conversion table showing salary scales paid to women officers is at Appendix I.

APPENDICES II AND III· · DEVELOPMENT LOAN FUND

Appendix II

This appendix comprises a financial statement of approved loans and projects including estimated issues and repayments during 1969-70.

Under Housing Loans it is expected that 209 schemes containing 4,117 flats will have been com- pleted by 31st March, 1969, under the Local Government Officers' Housing Scheme and a further 4 projects (122 flats) are expected to be completed during the year.

The allocation for educational loans remained at $120,000,000 during 1968-69. Educational loans are granted to non-profit making bodies for the construction of schools or extension of schools. The general rule is that the loan plus any Government capital subsidy should not exceed 80% of the total cost of a project. These loans are granted interest free and repayable over 10 or 11 years; or repayable over 21 years at 31% per annum. As a result of a new policy introduced during 1965-66, approved aided secondary school projects are eligible for an 80% capital subsidy; such subsidy being subject to there being no interest free loan in respect of the balance of 20% of the approved capital cost, other than in exceptional cases.

Fisheries Loans are intended for the owners of suitable mid and distant waters fishing junks for the purpose of mechanization or improvement of existing vessels, for the construction or purchase of new vessels and for the purchase and installation of navigational and fishing aids.

The allocation of $10,000,000 to the Hong Kong Export Credit Insurance Corporation represents an investment in the equity capital of the Corporation which was established during 1966-67 by the Hong Kong Export Credit Insurance Corporation Ordinance, Chapter 1115 of Laws of Hong Kong. Section 19 of the Ordinance provides authority to pay the Corporation from the general revenue of the Colony or the Development Loan Fund in such amounts and at such times as the Financial Secretary may determine, sums of money not exceeding in the aggregate ten million dollars and also provides that the capital of the Cor- poration shall consist of the amounts so paid. The terms of reference of the Development Loan Fund were amended by Resolution of the Legislation Council dated 7th December, 1966, to extend the use of the Fund to include investments in such schemes of development.

Appendix III

This appendix comprises a statement of the estimated financial position of the Fund and a summary of estimated receipts and payments for 1968-69 and 1969-70.

APPENDICES IV AND V — LOTTERIES FUND

The Lotteries Fund was established with effect from 30th June, 1965 by Resolution made and passed by the Legislative Council on that day.

Proceeds of Government Lotteries held in accordance with the Government Lotteries Ordinance Chapter 334 of Laws of Hong Kong and credited to general revenue have been transferred to the Fund from which the Financial Secretary may from time to time appropriate monies for the purpose of financing by way of a grant, a loan or an advance the support and development of such social welfare services in the Colony as may be approved by the Governor, after receiving and giving consideration to the advice of the Social Welfare Advisory Committee. In every case the amount of any appropriation, and the terms and conditions of the grant, loan or advance is subject to the prior approval of the Finance Committee of the Legislative Council.

Appendix IV

This appendix comprises a financial statement of approved loans and grants.

Appendix V

This appendix comprises a statement of the estimated financial position of the Fund and a summary of estimated receipts and payments for 1968-69 and 1969-70.

APPENDIX VI — PUBLIC WORKS PROGRAMME

The appendix to the Report of the Public Works Sub-Committee of Finance Committee is repro- duced at Appendix VI with the addition of items subsequently approved.