TNAG-1804-FCO40-2564-Hong-Kong-health-services-various-ordinances-1988 — Page 175

12

Reports

Cost of administering

the Foundation

QUEEN ELIZABETH FOUNDATION FOR THE MENTALLY HANDICAPPED BILL 1988

(b) prepare for each financial year a statement of the accounts of the Foundation, which statement shall include an income and expen- diture account and a balance sheet and be signed by the Chairman of the Council.

(2) The statement of the accounts of the Foundation, signed as required by subsection (1)(b), shall be submitted by the Chairman of the Council to the Director of Audit within 6 months from the end of the financial year to which it relates, or within such longer period as the Governor may determine.

(3) The accounts of the Foundation and the signed statement of the accounts shall be audited by the Director of Audit who shall certify such statement subject to any report he may think fit to make.

13. There shall be laid on the table of the Legislative Council on or before 31 December following the end of each financial year or by such later date as the Governor may determine

(a) a copy of the statement of the accounts of the Foundation, signed as required by section 12(1), together with the Director of Audit's certificate and report, if any, as provided for by sec- tion 12(3);

(b) a report by the Council on its activities on behalf of the Founda-

tion during that financial year; and

(c) such report, if any, as the Governor may see fit to make on the

accounts or reports referred to in paragraphs (a) and (b).

14. Where during any financial year the Government provides adminis- trative services for the Foundation—

(a) any costs incurred by the Government in providing such services

shall be a charge on the general revenue;

(b) if the Financial Secretary so directs, an administration fee to be determined by him, but not exceeding 24 per cent of Foundation income in that financial year, shall be paid out of Foundation income to the general revenue.

Explanatory Memorandum

The object of this Bill is to establish the Queen Elizabeth Foun- dation for the Mentally Handicapped, the purpose of which will be to apply for the benefit of the mentally handicapped in Hong Kong the net profit from the sale of gold coins to commemorate the visit of Her Majesty Queen Elizabeth II to Hong Kong in 1986. Other moneys, including a donation from the Royal Hong Kong Jockey Club and a matching contribution from the general revenue, will also be made available to the Foundation (clause 3).

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