Cap. 2 sub. leg. E

Civil Service Pension Reserve Fund Resolution of the Legislative Council(Format changes—E.R. 1 of 2017) Resolution made and passed by the Legislative Council under section 29 of the Public Finance Ordinance (Cap. 2) on 25 January 1995. Resolved that—(a) there shall be established a fund to be called the Civil Service Pension Reserve Fund;(b) the Fund shall be administered by the Financial Secretary who may delegate his power of administration to other public officers;(c) there shall be credited to the Fund—(i) such moneys as may be appropriated for the purpose; and (ii) all sums received by way of interest or dividend on moneys invested under paragraph (f);(d) the Financial Secretary may expend moneys from the Fund for the purpose of meeting the liabilities for payment of pensions, gratuities or other allowances under the Pensions Ordinance (Cap. 89), the Pension Benefits Ordinance (Cap. 99) or the Pension Benefits (Judicial Officers) Ordinance (Cap. 401) if, at the end of any month in a financial year, he believes that the balance in the General Revenue Account will be in deficit at the end of that financial year, having taken into account all anticipated receipts and payments;(e) the Director of Accounting Services shall, under the authority of a funds warrant issued by the Financial Secretary, pay from the Fund such sums as may be required to meet expenditures from the Fund;(f) the Financial Secretary in his discretion may authorize the investment in such manner as he may determine of any moneys held in the Fund at any time.