TNAG-2139-FCO40-3058-Hong-Kong-International-Airport-1990 — Page 32

15.

Borrowings

(1) Subject to subsection (3), the Authority may, on such terms

and conditions as it thinks fit, borrow or otherwise raise money

(including money in a currency other than the currency of Hong Kong)

and charge all or any part of its property as security therefor.

(2) In exercising the powers conferred by section 8(1)(a) the

Authority may acquire property under an agreement providing for the

payment of the whole or part of the purchase price by instalments.

(3)

The powers conferred by subsection (1) may only be exercised

to provide the Authority with such sums or credits as it may require

for

(a)

performing the functions conferred on it by this

Ordinance; and

(b) repaying money previously duly borrowed by it and any

interest on such money.

(4) The Financial Secretary may, as regards any meeting of the

Authority the business of which consists of or includes the

consideration or determination of borrowings (whether made or

proposed) by the Authority, delegate to any public officer named in

the delegation his power to preside at the meeting and any designation

under paragraph 2(3) of the Schedule shall not apply in relation to

any meeting of the Authority to which a delegation under this

subsection relates.

(5) Where the Authority borrows or otherwise raises money under

this section, until the contrary is shown by someone other than the

Authority it shall be presumed that the money was so raised for a

purpose mentioned in subsection (3).