This provision establishes the Bond Fund and sets out how the Financial Secretary and the Director of Accounting Services may administer, pay from, invest, and transfer money in relation to it.
Bond 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 8 July 2009. Resolved that—(a) there is established a fund to be known as the “Bond Fund” in English and “債券基金” in Chinese;(b) the Fund is to be administered by the Financial Secretary, who may direct or authorize other public officers to administer the Fund and delegate the power of administration to other public officers;(c) the following are to be credited to the Fund—(i) sums borrowed under section 3 of the Loans Ordinance (Cap. 61) that are required to be credited to the Fund by any resolution of the Legislative Council approving the borrowing;(ii) sums received by way of interest, dividends or investment income earned in respect of the sums held in the Fund;(iii) any appropriations from the general revenue that may be approved by the Legislative Council;(iv) any other sums that may be received for the purposes of the Fund;(d) earnings from interest or dividends on investments of the Fund are to be retained for the purposes of the Fund;(e) the Financial Secretary may expend money from the Fund for the purposes of—(i) repaying or, if appropriate, paying the principal of, interest on, and expenses incurred in relation to, any sums that have been borrowed under section 3 of the Loans Ordinance (Cap. 61) for the purposes of the Fund; and(ii) investing in the manner the Financial Secretary considers appropriate for the prudent management of the Fund, and paying the expenses incurred in relation to the investments;(ea) for sums borrowed in the manner mentioned in section 2A of the Loans Ordinance (Cap. 61), the power under paragraph (e) includes—(i) paying the sums referred to in subsection (1)(e) of that section; and(ii) paying the expenses incurred in relation to the borrowing; (7 of 2014 s. 7)(f) the Director of Accounting Services, under the authority of a funds warrant issued by the Financial Secretary, is to pay from the Fund any sums that may be required to meet expenditures from the Fund; and(g) the Financial Secretary may transfer from the Fund to the general revenue the balance held in the Fund if sufficient funds have been set aside to meet all financial obligations and liabilities in relation to any sums that have been borrowed under section 3 of the Loans Ordinance (Cap. 61) for the purposes of the Fund. (L.N. 81 of 2026)