LC Paper No. LS 167/98-99

Object of the Bill

To clarify and further define the power of investment of the corporation established under the Alice Ho Miu Ling Nethersole Hospital Incorporation Ordinance (Cap. 1072).

LegCo Brief Reference

2. No LegCo Brief on the Bill has been provided.

Date of First Reading

3. 12 May 1999.

Comments

4. This is a Member's Bill promoted by Hon Eric LI Ka-cheung.

5. Under the Alice Ho Miu Ling Nethersole Hospital Incorporation Ordinance (Cap. 1072), the corporation, known as The Executive Committee of The Alice Ho Miu Ling Nethersole Hospital, has the power to invest moneys upon mortgage of any lands, buildings, debentures, stocks, funds, shares or securities of any corporation or company.

6. The Bill seeks to clarify and further define the power of investment to allow the corporation concerned to invest moneys upon any lands, buildings and any debentures, stocks, etc. and also upon mortgage of any lands and buildings.

7. In compliance with the requirements set out in Rule 50 of the Rules of Procedure of the Legislative Council, the Bill has included a provision on saving the right of the Government, etc.. As a result of the Council's decision on the savings provision in the Adaptation of Laws Bill 1998, the provision has been amended to saving the rights of "the Central Authorities of the Government of the Hong Kong Special Administrative Region under the Basic Law and other laws ...". In line with this amendment, Hon Eric LI will propose Committee Stage amendments to the savings provision in this Bill. A copy of the CSAs is attached.

Public Consultation

8. There has not been any public consultation on the Bill.

Consultation with the LegCo Panel

9. No LegCo Panel has been consulted.

Conclusion

10. With the proposed CSAs, we are satisfied that the legal and drafting aspects of the Bill are in order. Subject to Member's views, the Bill is ready for resumption of Second Reading debate.


Encl


Prepared by

FUNG Sau-kuen, Connie
Assistant Legal Adviser
Legislative Council Secretariat
10 May 1999

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