1964_INDUSTRIAL_TRAINING_(CONSTRUCTION_INDUSTRY)_ORDINANCE — Page 11

10

CAP. 317]

Industrial Training (Construction Industry)

[1981 Ed.

Auditors.

Statements and reports to be laid on table of Legislative Council.

19. (1) The Authority shall appoint auditors, who shall be entitled at any time to have access to all books of account, vouchers and other financial records of the Authority and to require such information and explanations thereof as they may think fit.

(2) The auditors shall audit the statements prepared under section 18(2) and shall report thereon to the Authority.

20. (1) The Authority shall, within 6 months after the end of each financial year or such further time as the Governor may in any particular year allow, submit to the Governor a report on the activities of the Authority and copies of the statements prepared under section 18(2) and the report made under section 19(2).

(2) The Governor shall cause the reports and statements received by him under subsection (1) to be laid on the table of the Legislative Council.

Imposition of construction industry training levy.

Rate of levy.

Value of construction works.

PART IV

LEVY

21. A levy, to be known as the construction industry training levy, shall be imposed in accordance with this Ordinance on the value of all construction works undertaken in Hong Kong and shall be payable by every contractor who undertakes any such works.

22. (1) The Legislative Council may by resolution prescribe the rate of levy.

(2) The rate of levy prescribed under subsection (1) shall be based on the value of construction works.

(3) The rate of levy prescribed under subsection (1) shall come into effect 30 days after the publication of the resolution in the Gazette.

(4) A resolution under subsection (1) may provide that construction works the value of which does not exceed an amount specified in the resolution shall not be liable to the levy.

23. (1) In ascertaining the value of construction works for the purposes of this Ordinance, regard shall be given to—

(a) in the case of construction works performed pursuant to a contract, the consideration, or such part of the consideration as is attributable to the construction works, payable to the contractor under the contract, which shall be evidence, but not conclusive evidence, of the value of the construction works:

(b) the cost or value of materials used in the construction works;

(c) the cost or value of time, work and labour involved in the construction works;