Hong Kong Regulations

SEWAGE SERVICES TRADING FUND - LONG TITLE

Empowering section

RESOLUTION OF THE PROVISIONAL LEGISLATIVE COUNCIL (L.N. 550 of 1997)

Resolution made and passed by the Provisional Legislative Council under
section 12 of the Trading Funds Ordinance ( Cap 430) on 19 November 1997.

RESOLVED that-

   (a)  on the recommendation of the Financial Secretary, the Sewage Services
        Trading Fund ("the trading fund') shall be closed at the end of the
        day on 31 March 1998;

   (b)  on the closure of the trading fund-

        (i)    all money whether from operating revenue or from cash assets
               shall be part of the Capital Investment Fund;

        (ii)   all liabilities shall be assumed by the Government;

        (iii)  all other assets shall be transferred back to and form part of
               the property of the Government.