MASS TRANSIT FUND

MASS TRANSIT FUND

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MASS TRANSIT FUND.

RESOLUTIONS OF THE LEGISLATIVE COUNCIL

1. Resolution made and passed by the Legislative Council on 28 March
1973.

IT IS HEREBY
RESOLVED:

(i)that there is hereby established a fund styled the Mass
Transit Fund;

(ii)-(iv) [ceased to apply, see paragraph 2 (g).]

2. Resolution made and passed by the Legislative Council under section
29(1) of the Public Finance Ordinance on 27 July 1983.

RESOLVED with respect to the Mass Transit Fund established by
resolution made and passed by this Council on 28 March

1973 and deemed under section 29(3) of the Ordinance to

have been established in accordance with that section,

that

(a)the Fund be administered by the Financial Secretary, who
may delegate his power of administration to other public
officers;

(b)there be credited to the Fund such appropriations from
general revenue as may be approved by this Council;

(c)the Financial Secretary may expend moneys from the
Fund for the purposes of or in connexion with the mass
transit railway system, in accordance with such
conditions, exceptions and limitations as may be
specified by the Finance Committee;

(d)the Director of Accounting Services shall, under the
authority of a funds warrant issued by the Financial
Secretary, pay from the Fund such sums as may be
required to meet expenditure from the Fund;

(e)the Financial Secretary in his discretion may authorize the
investment in such manner as he may determine of any
unexpended balance held in the Fund at any time;

the Financial Secretary may from time to time transfer
from the Fund to general revenue any balance in the
Fund which is not required for the purposes of the
Fund;and

(g)paragraphs (ii), (iii) and (iv) of the resolution made and
passed by this Council on 28 March 1973 and published
in the Gazette as Legal Notice No. 78 of 1973, which
relate to the composition, expenditure and administration
of the Fund, cease to apply.
L.N. 78/73. L.N. 88/73. L.N. 251/83. (Cap. 2.)

L.N. 78/73. L.N. 88/73. L.N. 251/83. (Cap. 2.)

https://oelawhk.lib.hku.hk/items/show/2191

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