POLICE (WELFARE FUND) REGULATIONS

POLICE (WELFARE FUND) REGULATIONS

1982 Ed.] Police (Welfare Fund) Regulations [CAP. 232 B1
[Subsidiary]
POLICE (WELFARE FUND) REGULATIONS
ARRANGEMENT OF REGULATIONS
Regulation Page

1. Citation ................................. ... ... ... ... ... B2

2. Maintenance of Fund ...................... ... ... ... ... ... ... B 2
3. Investment ............................ ... ... ... ... ... B 2

4. Valuation of investments.................. ... ... ... ... ... ... B 2

5. Realization of investments.... ....... ... ... .. 1 ... ... ... B 2
6. Temporary advances to the Fund ....... ... ... ... ... ... ... ... B 2

7. Certification of advances ............. ... ... ... ... ... ... ... ... B 3

8. Loans by Fund ......................... ... ... ... .. ... ... ... B 3

9. Power to write off ......... ....... ... ... ... --- ... ... ... B 3

10...............Duties of accountant ....... ... ... ... ... ... ... B 3

11.............Annual accounts .............. ... ... ... ... ... ... ... ... ... B 4





B 2 CAP. 2321 Police (Welfare Fund) Regulations [1982 Ed.
[Subsidiary]
POLICE (WELFARE FUND) REGULATIONS
(Cap. 232, section 45)


[16 January 1953.]

1.These regulations may be cited as the Poli.ce (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 ilhe 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





1982 Ed.] Police (Welfare Fund) Regulations [CAP. 232 B3
[Subsidiary]
necessary for the proper administration of the Fund, and will
recover any advance so made from the proceeds of the sale of
the investments as soon as they are received. Interest will be
charged on any such advances at the rate earned by Government
on its main current account with the Hongkong and Shanghai
Banking Corporation or on its deposits in the Joint Colonial Fund,
whichever is the higher.

7. (1) All vouchers submitted to the Director of Accounting
Services in respect of payments to be made out of the Fund shall be
certified by the Commissioner, or by a police officer or public officer
under paragraph (2).
(2) The Commissioner may in writing authorize a public
officer attached to the police force or a police officer by name, office
or appointment, to certify payments to be made out of the Fund on
his behalf and every such authorization and cancellation thereof
shall be notified to the Director of Accounting Services.
(3) The Director of Accounting Services shall not make any
payment out of the Fund on the authority of a voucher that is not
certified in accordance with the requirements of this regulation.

8. When a loan is granted to a police officer or a retired police
officer under the authority of section 39(3)(c) of the Ordinance, it
will normally be subject to the following conditions-
(a) it shall be repaid in such monthly instalments as the
Commissioner may in his discretion specify, save that the
number of monthly instalments shall not exceed 24;
Upon default in 1 instalment the whole balance out-
standing shall immediately become due;
(b) [Deleted, L.N. 119178]
(c) whenever it shall be necessary to recover the amount of a
loan it shall be deemed to be an amount due to a depart-
ment of Government.
9. Upon a recommendation of the Commissioner the Finan-
cial Secretary may authorize the writing off of any asset or any debt
due to the Fund which he considers irrecoverable:

Provided that any such write-off shall take effect for the
purpose of accounting records alone and shall not extinguish any
right of the Fund to recovery of any such asset or debt.

10. The Director of Accounting Services will keep the account-
ant of the police force informed of all transactions on account of the
Fund's investments and the latter will balance his accounts monthly
and reconcile them with the deposit account maintained by the
Director of Accounting Services.





B 4 CAP. 2321 Police (Weffiare Fund) Regulations [1982 Ed.
[Subsidiary]
11. (1) The Commissioner 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 3.1 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 Commissioner.
(2)The accounts of the Fund and the signed statement of the
accounts shall be audited by the Director of Audit, who shall certify
the 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 Director of Audit's report, if any, and a report by
the Commissioner on the administration of the Fund during the
period covered by the audited accounts shall be laid on the table of
the Legislative Council not later than 30 September next following
the end of such period or so soon thereafter as the Governor, in his
absolute discretion, may allow.
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. Citation. Maintenance of Fund. Investment. G.N.A. 117/60. Valuation of investments. Realization of investments. Temporary advances to the Fund. Certification of advances. L.N. 180/77. Loans by Fund. Power to write off. G.N.A. 129/53. G.N.A. 117/60. Annual accounts. G.N.A. 117/60.

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. Citation. Maintenance of Fund. Investment. G.N.A. 117/60. Valuation of investments. Realization of investments. Temporary advances to the Fund. Certification of advances. L.N. 180/77. Loans by Fund. Power to write off. G.N.A. 129/53. G.N.A. 117/60. Annual accounts. G.N.A. 117/60.

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