Hong Kong Ordinances

MASS TRANSIT RAILWAY ORDINANCE - SECT 44

Distribution of dividend

For the purpose of any distribution to which Part IIA of the Companies 
Ordinance ( Cap 32) applies and which is made by the Corporation during the
financial year of the Corporation which includes the appointed day or at any
time before any accounts are laid or filed in respect of that year-

   (a)  sections 79F to 79L of that Ordinance have effect as if-

        (i)    reference in those sections to the company's accounts is a
               reference to the accounts of MTRC; and

        (ii)   reference in those sections to the company's last annual
               accounts or to the initial accounts of the company is a
               reference to the accounts of MTRC prepared in accordance with
               section 16 of the repealed  Ordinance in respect of the last
               complete financial year of MTRC;

   (b)  the accounts of MTRC mentioned in paragraph (a)(ii) are regarded as
        satisfying the requirements of sections 79G and 79I of that Ordinance.