Hong Kong Treasury Bills (Local) Ordinance


Published: 1997-06-30

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Cap 74 - HONG KONG TREASURY BILLS (LOCAL) ORDINANCE 1

Chapter: 74 HONG KONG TREASURY BILLS (LOCAL)
ORDINANCE

Gazette Number Version Date


Long title 30/06/1997


To regulate the issue of Hong Kong Treasury bills in Hong Kong.


[23 April 1926]

(Originally 5 of 1926 (Cap 74, 1950))

Preamble 68 of 1999 01/07/1997


Remarks:
Adaptation amendments retroactively made - see 68 of 1999 s. 3

WHEREAS it may be expedient from time to time that the Chief Executive should borrow money by the issue of

Hong Kong Treasury bills in Hong Kong:
AND WHEREAS it is expedient to provide in one Ordinance the terms and conditions applicable to the borrowing of

money by the issue of such bills:
(Amended 68 of 1999 s. 3)


Section: 1 Short title 30/06/1997


This Ordinance may be cited as the Hong Kong Treasury Bills (Local) Ordinance.

Section: 2 Power to borrow by the issue of Treasury bills 68 of 1999 01/07/1997


Remarks:
Adaptation amendments retroactively made - see 68 of 1999 s. 3


The Chief Executive whenever authorized thereto by a resolution of the Legislative Council may borrow by the
issue in Hong Kong of Government Treasury bills sums not exceeding the amount specified in such resolution; and
may also borrow from time to time by the issue of such Treasury bills such sums as may be required to pay off at
maturity bills already lawfully issued and outstanding.

(Amended 68 of 1999 s. 3)

Section: 3 Principal of bills 68 of 1999 01/07/1997


Remarks:
Adaptation amendments retroactively made - see 68 of 1999 s. 3


The principal moneys represented by the Treasury bills issued under the provisions of this Ordinance are hereby
charged upon and shall be payable out of the general revenues and assets of Hong Kong.

(Amended 68 of 1999 s. 3)

Section: 4 Proceeds of bills 68 of 1999 01/07/1997


Remarks:
Adaptation amendments retroactively made - see 68 of 1999 s. 3


The proceeds of the issue of the Treasury bills shall be paid into the general revenues.
(Amended 68 of 1999 s. 3)





Cap 74 - HONG KONG TREASURY BILLS (LOCAL) ORDINANCE 2

Section: 5 Amounts and period of currency of bills 68 of 1999 01/07/1997


Remarks:
Adaptation amendments retroactively made - see 68 of 1999 s. 3


Every Treasury bill issued under this Ordinance shall be for the sum of ten thousand dollars or a multiple of ten
thousand dollars and shall be payable at par at such time or times as the Chief Executive shall before the issue of such
Treasury bill fix and determine, but not later than one year from the date of issue.

(Amended 68 of 1999 s. 3)

Section: 6 Repayment of bills 68 of 1999 01/07/1997


Remarks:
Adaptation amendments retroactively made - see 68 of 1999 s. 3


The Chief Executive shall appropriate out of the general revenues the necessary sum to pay the principal
represented by the Treasury bills.

(Amended 68 of 1999 s. 3)

Section: 7 Cancellation of repaid bills 30/06/1997


Upon repayment of the principal moneys represented by the Treasury bills, the bills shall be delivered up to the
Government of Hong Kong to be cancelled.

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