Hong Kong Regulations

RESOLUTION OF THE LEGISLATIVE COUNCIL - PARAGRAPH

RESOLVED that—

   (a)  the authorized share capital of the Airport Authority referred to in
        section 23(1) of the Airport Authority Ordinance ( Cap 483) be reduced
        by an amount of $6000 million to $30648 million;

   (b)  the Airport Authority shall distribute to the Government in cash an
        amount of $6000 million, such amount in the hands of the Government to
        be credited to the Capital Investment Fund established by resolution
        made and passed by the Legislative Council on 14 March 1990 under
        section 29 of the Public Finance Ordinance ( Cap 2); and

   (c)  with effect from the date of receipt by the Government of the
        distribution referred to in paragraph (b), shares previously issued at
        par by the Airport Authority in accordance with section 23(3)(a) of
        the Airport Authority Ordinance ( Cap 483) and representing at the
        time of such issue a value of $6000 million in total be cancelled.