Hong Kong Regulations

LOTTERIES FUND - PARAGRAPH 1

(Past version on 30/06/1997).

Adaptation amendments retroactively made - see 68 of 1999 s. 3 Resolution made
and passed by the Legislative Council on 30 June 1965.

RESOLVED-

1. that with effect from 30 June 1965, there shall be established a fund
styled the LOTTERIES FUND; 2. that the Fund or any part of it may be held in
Hong Kong dollars and shall be administered by the Financial Secretary and may
be invested in such securities as may be approved by him; 3. that there shall
be credited to the Fund-

   (a)  a sum of $7418920 to be appropriated from the general revenue with
        effect from the date of creation of the Fund;

   (b)  such appropriations from the general revenue as may from time to time
        be made by this Council;

   (c)  such sums as may be required by or under any Ordinance to be credited
        thereto;

   (d)  all sums received by way of repayment of loans or advances granted
        from the Fund;

   (e)  all sums received by way of interest or dividend on investments,
        deposits, loans or advances of the Fund;

   (f)  such donations as may be offered to the Fund and which have been
        approved by the Finance Committee of this Council. (L.N. 91 of 1965;
        L.N. 219 of 1973; 68 of 1999 s. 3)