TNAG-1449-FCO40-1953-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1986 — Page 203

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SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY IN LEGISLATIVE COUNCIL: WEDNESDAY 9 APRIL 1986

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18/40

In accordance with section 8(8) (b) of the Public

Finance Ordinance, I have tabled for Members' information

a summary of changes made to the approved Estimates of Expenditure in the third quarter of the financial year

1985-86.

Supplementary provision of $750.6 million 'was

approved, of which $518.8 million were included in

supplementary warrants. Net supplementary provision of

$423 million was approved for payment to the Mass Transit Fund to enable the proceeds of a debt repayment by the

Kowloon-Canton Railway Corporation to be set aside

towards an equity injection of $1,000 million for the

Mass Transit Railway Corporation in 1987-88. Other sums

of supplementary provision approved have been offset

either by savings under the same or other heads of

expenditure or by deletion of funds under the additional

commitments votes and these included $210 million for

payment of out-of-court settlement as advised by

Counsel for the Crown and $40.7 million for adjustments of salaries and allowances for Judiciary and Royal Hong

Kong Police Force.

Approved commitments were increased by $213.6 million

during this period and new commitments of $1,044.7 million

were also approved.

Items in this summary have been approved either by Finance Committee or under delegated authority. The

latter have been reported to the Finance Committee in

accordance with section 8 (8) (a) of the Public Finance

Ordinance.

HKK 011/3 RECEIVED IN REGISTRY

23 APR 1986

DESK OFFICER

INDLA

PA

MISTRY

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