1988 Ed.]
Social Work Training Fund
[CAP. 1100
5
Borrowing powers
9. The trustee may borrow such sums of money at such rates of interest and subject to such terms or conditions as the committee may direct for the furtherance of any of the purposes specified in section 4, and, with the prior consent of the Governor, may charge the capital and assets of the fund as security for the repayment thereof,
Accounts
10. (1) The trustee shall cause proper accounts to be kept of all transactions of the fund and shall cause to be prepared for every period of 12 months ending on 31 March in each year, a statement of the accounts of the fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the trustee.
(2) The accounts of the fund and the signed statement of the accounts shall be audited by an auditor appointed by the Governor and the auditor shall certify such statement subject to such report, if any, as he may think fit.
(3) A copy of the signed and audited statement of accounts together with the auditor's report, if any, and a report by the trustee on the administration of the fund during the period covered by the audited accounts shall be laid upon the table of the Legislative Council not later than 31 December next following the end of such period or so soon thereafter as the Governor in his absolute discretion may allow. (Amended 15 of 1988 s. 3)
Investments
11. The trustee may invest any moneys in such investments, whether or not such investments are trust investments, as the committee may direct subject, in the case of investments which are not trust investments, to the prior approval of the Financial Secretary and may remit moneys comprised in the fund through the Director of Accounting Services to the Crown Agents for investment in the name of the trustee.
(Amended L.N. 16/77)
Cost of administration
12. The cost of the administration of the fund shall be a charge on the general revenue of Hong Kong:
Provided that the Financial Secretary may direct that an annual supervision fee to be determined by him shall be charged against the income of the fund and paid into the general revenue of Hong Kong.
(Amended 15 of 1988 s. 4)
Saving
13. Nothing in this Ordinance shall affect or be deemed to affect the rights of Her Majesty the Queen, Her Heirs or Successors, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Ordinance and those claiming by, from or under them.
1988 Ed.]
Social Work Training Fund
[CAP. 1100
5
Borrowing powers
9. The trustee may borrow such sums of money at such rates of interest and subject to such terms or conditions as the committee may direct for the furtherance of any of the purposes specified in section 4, and, with the prior consent of the Governor, may charge the capital and assets of the fund as security for the repayment thereof,
Accounts
10. (1) The trustee shall cause proper accounts to be kept of all transac- tions of the fund and shall cause to be prepared for every period of 12 months ending on 31 March in each year, a statement of the accounts of the fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the trustee.
(2) The accounts of the fund and the signed statement of the accounts shall be audited by an auditor appointed by the Governor and the auditor shall certify such statement subject to such report, if any, as he may think fit.
(3) A copy of the signed and audited statement of accounts together with the auditor's report, if any, and a report by the trustee on the administration of the fund during the period covered by the audited accounts shall be laid upon the table of the Legislative Council not later than 31 December next following the end of such period or so soon thereafter as the Governor in his absolute discretion may allow. (Amended 15 of 1988 s. 3)
Investments
11. The trustee may invest any moneys in such investments, whether or not such investments are trust investments, as the committee may direct subject, in the case of investments which are not trust investments, to the prior approval of the Financial Secretary and may remit moneys comprised in the fund through the Director of Accounting Services to the Crown Agents for investment in the name of the trustee.
(Amended L.N. 16/77)
Cost of administration
12. The cost of the administration of the fund shall be a charge on the general revenue of Hong Kong:
Provided that the Financial Secretary may direct that an annual supervi- sion fee to be determined by him shall be charged against the income of the fund and paid into the general revenue of Hong Kong.
(Amended 15 of 1988 s. 4)
Saving
13. Nothing in this Ordinance shall affect or be deemed to affect the rights of Her Majesty the Queen, Her Heirs or Successors, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Ordinance and those claiming by, from or under them.
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