1975 Ed.]
Loans (Government Bonds)
[CAP. 64
1
CHAPTER 64
LOANS (GOVERNMENT BONDS)
To make provisions for the raising of loans in Hong Kong by the issue of bonds and for matters connected therewith.
Originally 50 of 1975.
[1st August, 1975.]
1. This Ordinance may be cited as the Loans (Government Bonds) Ordinance.
Short title.
2. In this Ordinance, unless the context otherwise requires Interpretation.
"Government bond" means a bond issued by the Government under this Ordinance;
"loan" means a loan raised by the issue of Government bonds.
3. The Government may, by the issue of bearer bonds, raise in Hong Kong such loans for such purposes as may be approved by resolution of the Legislative Council.
4. (1) Except in the case of a loan raised for the purposes of the general revenue, a loan shall be applied and is appropriated to the purposes for which it is raised:
Provided that any part of a loan which cannot be applied to those purposes may be applied to such other purposes as may be approved by the Financial Secretary.
(2) Where expenditure must be incurred in respect of any purpose for which a loan is being raised prior to the raising of the loan, such expenditure shall be charged as an advance pending reimbursement from such loan and the maximum amount which may be so advanced in any financial year in connexion with that purpose shall be approved by resolution of the Legislative Council.
(3) Loans and all interest and other charges thereon are charged on and shall be payable out of the general revenue and assets of Hong Kong.
(4) Any expenses of or incidental to the raising of a loan may be defrayed from that loan.
5. (1) Subject to subsection (2), Government bonds shall-
(a) bear interest at such rate;
(b) be issued at such price and in such denominations; and
(c) be issued for such periods and subject to such terms, as the Governor may determine.
Power to raise loans.
Appropriation and charge of loans.
Terms of issue of Government bonds.
1975 Ed.]
Loans (Government Bonds)
[CAP. 64
1
CHAPTER 64
LOANS (GOVERNMENT BONDS)
To make provisions for the raising of loans in Hong Kong by the
issue of bonds and for matters connected therewith.
Originally 50 of 1975.
[1st August, 1975.]
1. This Ordinance may be cited as the Loans (Government Bonds) Ordinance.
Short title.
2. In this Ordinance, unless the context otherwise requires Interpretation.
"Government bond" means a bond issued by the Government under
this Ordinance;
"loan" means a loan raised by the issue of Government bonds.
3. The Government may, by the issue of bearer bonds, raise in Hong Kong such loans for such purposes as may be approved by resolution of the Legislative Council.
4. (1) Except in the case of a loan raised for the purposes of the general revenue, a loan shall be applied and is appropriated to the purposes for which it is raised:
Provided that any part of a loan which cannot be applied to those purposes may be applied to such other purposes as may be approved by the Financial Secretary.
(2) Where expenditure must be incurred in respect of any purpose for which a loan is being raised prior to the raising of the loan, such expenditure shall be charged as an advance pending reimbursement from such loan and the maximum amount which may be so advanced in any financial year in connexion with that purpose shall be approved by resolution of the Legislative Council.
(3) Loans and all interest and other charges thereon are charged on and shall be payable out of the general revenue and assets of Hong Kong.
(4) Any expenses of or incidental to the raising of a loan may be defrayed from that loan.
5. (1) Subject to subsection (2), Government bonds shall- (a) bear interest at such rate;
(b) be issued at such price and in such denominations; and
(c) be issued for such periods and subject to such terms, as the Governor may determine.
Power to raise loans.
Appropriation and charge of loans.
Terms of issuc of Government bonds.
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