CIVIL SERVICE PENSION RESERVE FUND
- CHAPTER 2E

CIVIL SERVICE PENSION RESERVE FUND - LONG TITLE  
Empowering section VerDate:30/06/1997



RESOLUTION OF THE LEGISLATIVE COUNCIL

(L.N. 18 of 1995)
(Enacted 1995)



CIVIL SERVICE PENSION RESERVE FUND - PARAGRAPH  
  VerDate:30/06/1997



Resolution made and passed by the Legislative Council under section 29 of 
the Public Finance Ordinance (Cap 2) on 25 January 1995.

RESOLVED that-

        (a)	there shall be established a fund to be called the Civil 
Service Pension Reserve Fund;

        (b)	the Fund shall be administered by the Financial Secretary who 
may delegate his power of administration to other public officers;

        (c)	there shall be credited to the Fund-

        (i)	such moneys as may be appropriated for the purpose; and 

        (ii)	all sums received by way of interest or dividend on moneys 
invested under paragraph (f);

        (d)	the Financial Secretary may expend moneys from the Fund for the 
purpose of meeting the liabilities for payment of pensions, gratuities or 
other allowances under the Pensions Ordinance (Cap 89), the Pension 
Benefits Ordinance (Cap 99) or the Pension Benefits (Judicial Officers) 
Ordinance (Cap 401) if, at the end of any month in a financial year, he 
believes that the balance in the General Revenue Account will be in 
deficit at the end of that financial year, having taken into account all 
anticipated receipts and payments;

        (e)	the Director of Accounting Services shall, under the authority 
of a funds warrant issued by the Financial Secretary, pay from the Fund 
such sums as may be required to meet expenditures from the Fund;

        (f)	the Financial Secretary in his discretion may authorize the 
investment in such manner as he may determine of any moneys held in the 
Fund at any time.
(Enacted 1995)