Hong Kong Ordinances

MARINE FISH (MARKETING) ORDINANCE - SECT 14

Financial control

(Past version on 30/06/1997).

Adaptation amendments retroactively made - see 65 of 1999 s. 3

(1) All moneys received, including any moneys borrowed, by the Organization
shall be brought to account and shall be administered by it for the purposes
of this Ordinance, and any moneys so brought to account may be left on current
or deposit account with any bank or invested in such mortgages, debentures,
stocks, funds, shares or other securities as the Chief Executive may approve.

(2) The Organization shall keep proper accounts and shall prepare a statement
thereof for every period of 12 months ending on the 31st March. The accounts
and the statement thereof shall be audited by an auditor appointed by the
Chief Executive and such auditor shall certify the statement subject to any
report which he may think fit to make. The audited statement together with the
auditor's report, if any, shall be laid on the table of the Legislative
Council not later than the 31st October next following the end of the period
to which such statement relates or so soon thereafter as the Chief Executive
may in his discretion allow. (Amended 14 of 1978 s. 4)

(3) The Organization shall submit to the Chief Executive annual estimates of
income and expenditure and shall not incur expenditure beyond that in the
approved estimate without the prior consent of the Chief Executive: Provided
that nothing in this subsection shall prevent the Organization incurring and
making provision for necessary day to day expenses pending the approval of its
annual estimate. (Amended 65 of 1999 s. 3)