TNAG-2877-FCO40-4149-Future-of-Hong-Kong-adaptation-of-laws-1993 — Page 65

GOVERMENT HOUSE HONG KONG.

FRI 10 NUL -- PHIL.

PG.10

CONFIDENTIAL

and the General Loan and Stock Ordinance, Cap. 72. corporate referred to in the 1979 Act.

This is the body

7.

The

Crown Agents provide The following services to Hong

Kong:

(a)

The Financial Secretary may borrow by means of advances from the Crown Agents or from any bank by means of a fluctuating overdraft (see S.27(2) of the Public Finance Ordinance (Cap. 2));

(b) The Crown Agents may from time to time raise any sum. of money by debentures or by stock on behalf of the

as authorised by various

Hong Kong Government

Ordinances (s.3 of

Ordinance (Cap. 72));

the

General Loan and Stock

::

(c)

The Crown Agents are

authorised

for the purpose of

forming a sinking fund to place at interest or invest in the purchase of such securities as may be approved by the Secretary of State moneys remitted to them by the Hong Kong Government (s.29 of Cap. 72);

(d). The Governor whenever authorised by a resolution of the Legislative Council may request the Crown Agents to borrow the sum So authorised by the issue in London of Hong Kong Government Treasury bills (s.2 of the Hong Kong Treasury Bills (London) Ordinance (Cap. 75));

CONFIDENTIAL