Hong Kong Ordinances

EXCHANGE FUND ORDINANCE - SECT 5A

Appointment of Monetary Authority

(1) The Financial Secretary shall appoint a person to be the
Monetary Authority on such terms and conditions as he thinks fit.

(2) The Monetary Authority shall-

   (a)  assist the Financial Secretary in the performance of his functions
        under this Ordinance;

   (b)  perform such functions as the Financial Secretary may direct; and

   (c)  perform functions imposed on or assigned to the Monetary  Authority by
        any other Ordinance.

(3) The Financial Secretary may appoint, on such terms and conditions as he
thinks fit, persons to assist the Monetary Authority in the performance of the
functions of the Monetary Authority specified in subsection (2).

(4) Notwithstanding subsection (2)(b) and (c), the Monetary  Authority and
persons appointed to assist him under subsection (3) shall be regarded, for
all purposes, as employed in connection with the purposes of the Fund.

(5) In this section "functions" (職能) includes powers and duties. (Added 82
of 1992 s. 4)

"functions" (職能)