TNAG-1685-FCO40-2335-Hong-Kong-Betting-Duty-(Amendment)-Ordinance-1983-1987 — Page 12

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Ord. No. 6/87

Investment of

moneys. (Cap. 29.)

Accounts.

(Cap. 50.)

Fund not to

be used as security.

1987.

JUBILEE SPORTS CENTRE (AMENDMENT)

professional person or agent (whether a solicitor, banker, stockbroker, financial adviser, or other person) to advise it on any matter arising out of or in connexion with the fund.

(2) All salaries and fees (if any) of a person appointed or employed under subsection (1) shall be paid by the Committee of Trustees out of the fund.

171. The Committee of Trustees may invest any moneys of the fund in such authorized investments (within the meaning of section 4 of the Trustee Ordinance) as the Committee of Trustees may decide.

17J. (1) The Committee of Trustees shall cause proper accounts to be kept of all transactions of the fund and shall cause to be prepared, in respect of the period from the commencement of this Part to 30 June 1987, and thereafter in respect of every period of one year ending on 30 June, a statement of the accounts of the fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the Chairman of the Committee.

(2) The accounts of the fund and the signed statement of the accounts shall be audited by an auditor (being a certified public accountant within the meaning of section 2 of the Professional Accountants Ordinance) appointed by the Board and the auditor shall certify the statement subject to such report, if any, as he may think fit.

(3) There shall be laid on the table of the Legislative Council not later than 31 December next following the end of each period in respect of which a statement is required to be prepared under subsection (1) or so soon thereafter as the Governor may allow—

(a) a copy of the signed and audited statement of

accounts together with the auditor's report, if any; and

(b) a report of the Committee of Trustees on the administration of the fund during that period.

17K. The fund shall not--

(a) be used by the Board or the Committee of Trustees for the purpose of borrowing or raising money; and

(b) be charged, mortgaged, pledged or used as security

for any purpose.".

Passed by the Hong Kong Legislative Council this 21st day of January

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JUBILEE SPORTS CENTRE (AMENDMENT)

Ord. No. 6/87

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This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

LAW Kam-sang, Clerk to the Legislative Council.

LAW Kam-sang,

Clerk to the Legislative Council.