Chapter: 61 LOANS ORDINANCE Gazette Number Version Date
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title 30/06/1997 Long
To make provision for the raising of loans and for matters connected therewith.
[23 May 1975] (Originally 39 of 1975)
title 30/06/1997 Section: 1 Short
This Ordinance may be cited as the Loans Ordinance.
Section: 2 Interpretation 30/06/1997 In this Ordinance, unless the context otherwi requires-
"borrow" (借入) includes the power to draw upon a credit facility;
"issue" (发行), in relation to a bond, promissory note or other instrument in the form described in ction 4(1A)(b), means registering the holding of such bond, note or instrument by the person to whom it is issued by entering the
relevant information or data into the relevant record; (Added 47 of 1991 s. 2)
"lender" (贷款人) means any person from whom the Government borrows money under this Ordinance.
Section: 3 Power to borrow 30/06/1997
(1) The Government may, in such manner and on such terms and subject to such conditions as may be agreed between the Government and any person, borrow from such person such sum or sums and for such purpos as may be approved by resolution of the Legislative Council.
(2) Any agreement between the Government and a lender in respect of sums borrowed under the powers conferred by subction (1) shall be made in the name of the Government of Hong Kong and may be signed on behalf
of the Government by the Financial Secretary, or by any person authorized by him in writing.
(3) Subject to subction (4), as soon as practicable after the execution of an agreement under this ction, the Financial Secretary shall cau a copy of the agreement to be laid on the table of the Legislative Council. (Amended
47 of 1991 s. 3)
(4) The Financial Secretary may, in his absolute discretion, exclude from the application of subction (3) any agreement, or any part thereof, which relates to the issue of any bond, promissory note or other instrument issued
under ction 4. (Added 47 of 1991 s. 3)
Section: 4 Power to issue instruments including bonds 30/06/1997
(1) The Government may issue such bonds, promissory notes or other instruments on such terms and conditions as may be necessary for the purpo of giving effect to the terms of any agreement which may be entered
into by it with a lender in respect of any borrowing under this Ordinance.
(1A) A bond, promissory note or other instrument issued by the Government under subction (1) may take the
form of-
(a) a written document; or
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(b) information or data which is recorded (whether by means of a computer or otherwi) in a non-legible
form but is capable of being reproduced in a legible form. (Added 47 of 1991 s. 4)
(2) Any bond, promissory note or other instrument issued by the Government under subction (1) may, where南阳科技馆
高铁简笔画it is the form of a written document, be signed on behalf of the Government by the Financial Secretary or by any
person authorized by him in writing. (Amended 47 of 1991 s. 4)
Section: 5 Appropriation and charge of loans 30/06/1997
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(1) Any sums borrowed by the Government under this Ordinance shall, except in the ca of sums borrowed for the purpos of the general revenue, be applied and are appropriated to the purpos for which they were borrowed: Provided that any part of such a sum which cannot be applied to tho purpos may be applied to such other purpos as may be approved by the Financial Secretary.
西藏风景图(2) Where sums borrowed under this Ordinance are not immediately available and expenditure in respect of the purpo for which they were borrowed must be met, such expenditure shall be charged as an advance pending reimburment and the maximum amount which may be so advanced in any financial year in connection with any purpo shall be approved by resolution of the Legislative Council.
(3) Any sum borrowed under this Ordinance and all interest and other charges thereon are hereby charged upon and shall be payable out of the general revenues and asts of Hong Kong.
(4) Any expens of or incidental to the raising of a loan may be defrayed from the sums borrowed.
obligations under agreements 68 of 1999 01/07/1997 Section: 6 Implementation
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企业创新能力Remarks:
Adaptation amendments retroactively made - e 68 of 1999 s. 3
(1) Notwithstanding anything contained in any other law, an agreement concluded with a lender in re
spect of any borrowing under this Ordinance and any bond, promissory note or other instrument issued pursuant to any such agreement and any undertaking given in respect of any such agreement, bond, promissory note or instrument by the Government shall be valid and enforceable and have full force and effect in accordance with their respective terms.
(2) The Chief Executive may, by order published in the Gazette, provide for the remission of any tax, duty, charge or fee payable under any Ordinance in respect of any agreement, bond, promissory note or instrument concluded with a lender or issued in connection with any borrowing under this Ordinance or in respect of any payment of interest or otherwi under any such agreement, bond, promissory note or instrument. (Amended 68 of 1999 s. 3)
