Hong Kong Ordinances

TRADING FUNDS ORDINANCE - SECT 7

Financial period and accounting requirements

(1) The financial year for a trading fund is from 1 April to 31 March in the
following year.

(2) If a trading fund is established after 1 April in any year, the first
financial year for the trading fund is from the date it is established until
31 March following.

(3) A general manager shall keep the accounts and records of all transactions
of the trading fund in such manner as the Director of Accounting Services may
require.

(4) A general manager shall submit statements of the annual accounts of the
trading fund prepared in accordance with generally accepted accounting
principles and signed by him to the Director of Audit within a reasonable time
after the end of each financial year to allow for audit and the tabling of the
certified statements and the report of the Director of Audit in accordance
with section 8.

(5) The Director of Audit shall examine and audit the statements of the annual
accounts of the trading fund and prepare a report on his examination and audit
and certify that he has conducted the examination and audit of the statements.

(6) The Director of Audit shall state in the report whether in his opinion the
statements-

   (a)  give a true and fair view of the state of affairs of the trading fund
        at the end of the financial year;

   (b)  give a true and fair view of the results of the operations of the
        trading fund for the financial year then ended; and

   (c)  have been properly prepared in accordance with the manner provided in
        subsection (4). (Enacted 1993)