TNAG-1810-FCO40-2571-Hong-Kong-University-of-Science-and-Technology-University-o-1988 — Page 93

OCCUPATIONAL SAFETY AND HEALTH COUNCIL

Ord. No. 73/88

A471

PART III

FINANCIAL

6. (1) The resources of the Council shall consist of

(a) all amounts of levy, contribution, surcharge and penalty received

by the Council;

(b) all monies, including grants, loans, funds, donations, fees, rent, interest, proceeds from the sale of publications of the Council or property held by or on behalf of the Council and accumulations of income, lawfully received by the Council for or in connection with the carrying out of its purposes; and

(c) all property and assets lawfully acquired by the Council.

(2) All money paid to or received by the Council shall be deposited with any bank nominated by the Council as the Financial Secretary may approve.

Resources of

the Council

7. (1) The Council may, subject to the approval of the Financial Borrowing Secretary, borrow by way of overdraft, mortgage or otherwise, such sums as powers it may require for meeting its obligations or discharging its functions under this Ordinance.

(2) A person lending money to the Council shall not be concerned to inquire whether the borrowing of the money is legal or regular or whether the money raised has been properly applied and shall not be prejudiced by any illegality or irregularity or by misapplication or non-application of the

money.

8. All money of the Council that is not immediately required shall be Use of surplus invested on deposit in any bank nominated by the Council and approved by the Financial Secretary, either generally or in any particular case, for the purpose or in such other forms of investment as the Financial Secretary may approve.

9. (1) The Council shall fix a period to be the financial year of the Estimates Council.

(2) The Council shall in each financial year adopt estimates of income and expenditure for the ensuing financial year and, before a date to be appointed by the Governor, send them to the Governor for his approval together with a programme of its activities for the ensuing financial year.

(3) The Governor may require the resubmission of a programme or estimates, modified as he may direct.

10. The Council shall keep proper accounts and proper records in Accounts and relation to the accounts and shall cause to be prepared for each financial statements year statements of the accounts of the Council which shall

(a) include an income and expenditure account and balance sheet; and

(b) be signed by the Chairman.

11. (1) The Council shall appoint an auditor, who shall be entitled at Auditor any time