1964_UNALLOCATED_STORES_SUSPENSE_ACCOUNT — Page 1

1986 Ed.] Unallocated Stores Suspense Account

JCAP. 2

UNALLOCATED STORES SUSPENSE ACCOUNT

RESOLUTION OF THE LEGISLATIVE COUNCIL

Resolution made and passed by the Legislative Council under section 30(1) of the Public Finance Ordinance on 29 January 1986.

RESOLVED with effect from 1 April 1986 that-

(1) this Council approves the establishment of a special suspense account to be known as the Unallocated Stores Suspense Account ("the Account");

(2) the Account shall be employed for the purchase by the Government of stores (in this resolution called "un- allocated stores") which are to be held in stock pending subsequent sale or issue to Government de- partments or other bodies:

(3) the Account shall be administered by the Financial Secretary who may delegate his power of administra- tion to other public officers;

(4) subject to paragraph (5), the Director of Accounting Services and any public officer authorized in writing. by him may pay from public moneys such sums as may be necessary for the purchase of unallocated stores;

(5) total payments made under paragraph (4) shall not exceed in respect of any period specified by the Finan- cial Secretary, such sum as he may determine;

(6) the Account shall not at any time be in debt to an amount exceeding $200,000,000.00 or such lesser sum as the Financial Secretary may determine.

II

[Subsidiary]

L.N. 19/86.