B2
[Subsidiary]
G.N.A. 8/53.
G.N.A. 129/53. G.N.A. 117/60.
L.N. 16/77.
L.N. 180/77.
L.N. 119/78.
L.N. 306/82.
CAP. 232] Police (Welfare Fund) Regulations
[1982 Ed.
POLICE (WELFARE FUND) REGULATIONS
(Cap. 232, section 45)
[16 January 1953.]
Citation.
Maintenance of Fund.
Investment.
G.N.A. 117/60.
Valuation of investments.
Realization of investments.
Temporary advances to the Fund.
1.
These regulations may be cited as the Police (Welfare Fund) Regulations.
2. (1) All moneys due to the Police Welfare Fund (referred to herein as the Fund) as prescribed by section 39 of the Ordinance shall immediately be paid in full to the Director of Accounting Services who shall credit them to an account entitled "Deposits-Police Welfare Fund”.
(2)-(3) [Deleted, L.N. 306/82]
(4) The Director of Accounting Services shall render to the Commissioner before the 10th day of each month a return showing all transactions of the Fund in his accounts during the previous month.
3. All sums considered by the Commissioner to be surplus to the normal requirements of the Fund shall at his request-
(a) be invested in such securities or deposited in such manner in the Colony by the Director of Accounting Services as the Financial Secretary may from time to time approve for that purpose; or
(b) be remitted to the Crown Agents for investment in such securities or deposit in such manner as the Secretary of State may from time to time approve for that purpose, and the dividends or interest accruing from such investments or deposits shall be credited to the account specified in regulation 2.
4. All investments of the Fund shall be valued at the middle market price in London on 31 March in each year, and the balance of the Fund on that date shall be increased or decreased as may be required in accordance with such valuation.
5. Should at any time the uninvested portion of the Fund fall below a figure which in the opinion of the Commissioner is the minimum necessary for the normal requirements of the Fund, he shall request the Director of Accounting Services to sell on the local market or in London such part of the Fund's investments as will together with the existing uninvested portion provide an adequate working balance.
6. Pending the realization of the proceeds of sale of any investments as mentioned in regulation 5, the Director of Accounting Services may with the prior approval of the Financial Secretary advance to the Fund such sum or sums as may be considered
B2
[Subsidiary]
G.N.A. 8/53.
G.N.A. 129,53. G.N.A. 117;60.
L.N. 16/77.
L.N. 180/77.
L.N. 119:78.
L.N. 306.82.
CAP. 232] Police (Welfare Fund) Regulations
[1982 Ed.
POLICE (WELFARE FUND) REGULATIONS
(Cap. 232, section 45)
[16 January 1953.]
Citation.
Maintenance of Fund.
Investment.
G.N.A. 117 60.
Valuation of investments.
Realization of investments.
Temporary advances to the Fund.
1.
These regulations may be cited as the Police (Welfare Fund) Regulations.
2. (1) All moneys due to the Police Welfare Fund (referred to herein as the Fund) as prescribed by section 39 of the Ordinance shall immediately be paid in full to the Director of Accounting Services who shall credit them to an account entitled "Deposits- Police Welfare Fund”.
(2)-(3) [Deleted, L.N. 306/82]
(4) The Director of Accounting Services shall render to the Commissioner before the 10th day of each month a return showing all transactions of the Fund in his accounts during the previous month.
3. All sums considered by the Commissioner to be surplus to the normal requirements of the Fund shall at his request-
(a) be invested in such securities or deposited in such manner in the Colony by the Director of Accounting Services as the Financial Secretary may from time to time approve for that purpose; or
(b) be remitted to the Crown Agents for investment in such securities or deposit in such manner as the Secretary of State may from time to time approve for that purpose, and the dividends or interest accruing from such investments or deposits shall be credited to the account specified in regulation 2.
4. All investments of the Fund shall be valued at the middle market price in London on 31 March in each year, and the balance of the Fund on that date shall be increased or decreased as may be required in accordance with such valuation.
5. Should at any time the uninvested portion of the Fund fall below a figure which in the opinion of the Commissioner is the minimum necessary for the normal requirements of the Fund, he shall request the Director of Accounting Services to sell on the local market or in London such part of the Fund's investments as will together with the existing uninvested portion provide an adequate working balance.
6. Pending the realization of the proceeds of sale of any investments as mentioned in regulation 5, the Director of Account- ing Services may with the prior approval of the Financial Secretary advance to the Fund such sum or sums as may be considered
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