UNALLOCATED STORES SUSPENSE ACCOUNT

UNALLOCATED STORES SUSPENSE ACCOUNT

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
'unallocated stores') which are to be held in stock
pending subsequent sale or issue to Government
departments or other bodies;

(3)the Account shall be administered by the Financial
Secretary who may delegate his power of administration
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 Financial
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.
L.N. 19/86.

L.N. 19/86.

https://oelawhk.lib.hku.hk/items/show/2195

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