Hong Kong Regulations

COMPANIES REGISTRY TRADING FUND - LONG TITLE

Empowering section

RESOLUTION OF THE LEGISLATIVE COUNCIL (L.N. 249 of 1993)

Resolution made and passed by the Legislative Council under sections 3, 4 and
6 of the Trading Funds Ordinance ( Cap 430) on 30 June 1993.

RESOLVED that with effect from 1 August 1993-

   (a)  on the recommendation of the Financial Secretary, the Companies
Registry Trading Fund ("the trading fund") shall be established to manage and
account for the operation of the government service of the Companies Registry;

   (b)  the services to be provided under the trading fund shall be those
        specified in Schedule 1;

   (c)  the assets set out in column 2 of Schedule 2 shall, subject to any
        term specified opposite an asset in column 3 of that Schedule, be
        appropriated to the trading fund;

   (d)  the net value of the assets of $415.16 m. appropriated to the 
        trading fund shall be shown in the Capital Investment Fund-

        (i)    as to $276.70 m., as a loan;

        (ii)   as to the balance, as a contribution of trading fund capital;

   (e)  the load referred to in paragraph (d)(i)-

        (i)    shall be repayable in 10 equal annual instalments of $27.67 m.
               each, the first such instalment to become due on 1 August 1994;

        (ii)   shall, as to any balance unpaid, bear interest at a rate equal
               to the average of the best lending rate quoted by the
               continuing members of the Committee of The Hong Kong
               Association of Banks, such interest to be payable annually in
               arrear. (Enacted 1993)