TNAG-2266-FCO40-3263-Richard-Allen--Chief-Executive-of-the-Hong-Kong-Provisional--1991 — Page 8

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(b)

(3) (a)

A resolution under this section shall be neither amended not revoked and, accordingly, the Interpretation and General Clauses Ordinance (Cap. 1) shall not apply to it.

The Financial Secretary shall not so exercise the powers conferred on him by a resolution under this section that the amount, or the aggregate amount, of money which the Government may at any one time be liable to pay by reason of any guarantee or guarantees under this section for the time being in force, together with the amount of money (if any) which the Government has previously paid under any guarantee under this section and which has not been repaid to the Government by the Authority, exceeds—

(i) in case only I resolution under this section has been passed,

the amount specified therein; and

(ii) in case 2 or more such resolutions have been passed, the

aggregate of the amounts specified therein.

(b) Where for the time being-.

(i) a guarantee under this section is in force;

(i) the whole or part of the money to which the guarant

ΟΙ,

relates is money in a currency or currencies other than the currency of Hong Kong; and (iii) having calculated at the exchange rate Or, where appropriate, the exchange rates currently prevailing the equivalent in the currency of Hong Kong of such whole or part, the money to which the guarantee relates exceeds in amount what, having regard to paragraph (a), is the relevant money limit,

then the Financial Secretary's power which the relevant resolution under subsection (1)(a) conferred shall be regarded for

the time being as having been fully exercised.

(4) Any sum required to fulfil a guarantee under this section shall be charged on and paid out of the general revenue of Hong Kong and any sum received by the Government in repayment of a sum so paid out, or for interest thereon, shall be paid into such general revenue.

J

(5) Where money in a currency, other than the currency of Hong Kong is payable under a guarantee under this section, notwithstand anything otherwise contained in this section any reference in the guarantes to principal, to an instalment or other amount of money or to interest and any such reference to commission or incidental expenses shall, for the purposes of subsection (4), be taken as referring to the equivalent in the currency of Hong Kong having regard to the relevant exchange rate then prevailing.