CONFIDENTIAL # Z
機密
14
the Corporation in respect of a debt secured by a mortgage
or a specific or floating charge, such sum shall be
repayable to the Government by the Corporation, together
with interest thereon at such rate as the Financial
Secretary may determine, and the Government shall as from
the time of payment have the benefit of all the remedies
vested in the creditor by virtue of such mortgage or
charge with liberty to exercise the rights and powers
arising thereunder in its own name and without any assign-
ment by the creditor.
Corporation to act on commercial principles.
13. (1) The Corporation shall conduct its business
according to prudent commercial principles and shall
ensure as far as possible that, taking one year with
another, its revenue is at least sufficient to meet its
expenditure.
(2) Any excess of revenue over expenditure in any
financial year may be applied by the Corporation in any
way consistent with this Ordinance.
(3) In this section "expenditure" includes such
provision for renewal of capital assets and repayment of
loans as the Board considers prudent.
Reserve funds.
14. The Corporation may establish any general or
special reserve fund and carry to the credit thereof such
sums as it thinks fit and expend the same in any way
consistent with this Ordinance.
G.F. 323
CONFIDENTIAL
機密
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