Legislative Council

LC Paper No. LS245/98-99

Object(s) of the Bill

To adapt certain Ordinances and their subsidiary legislation to bring them into conformity with the Basic Law and with the status of Hong Kong as a Special Administrative Region of the People's Republic of China.

LegCo Brief Reference

2. FIN CR5/1/3221/91 issued by the Finance Bureau in July 1999.

Date of First Reading

3. 14 July 1999.

Comments

4. A list of the Ordinances affected by the Bill is at Annex B. The Ordinances relate mainly to public finance and banking. A summary of the technical amendments and respects is set out in Annex A.

5. The Bill does not seek to introduce any change in policy and only effects essentially technical drafting changes to individual Ordinances.

6. If enacted, the Bill will take retrospective effect from 1 July 1997 to ensure that there is consistency in the interpretation of all laws on and after 1 July 1997. The retrospective effect will not apply to provisions involving criminal offences or penalties.

Public Consultation

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

Consultation with LegCo Panel

8. No consultation with any LegCo Panel on the details of the Bill has been carried out.

Recommendation

9. The legal and drafting aspects of the Bill are in order. Subject to Members' views, the Bill is ready for resumption of the Second Reading debate.

Prepared by

KAU Kin-wah
Assistant Legal Adviser
Legislative Council Secretariat
9 September 1999

Encl

Annex A

I. Proposed technical changes

Annex B

1. Public Finance Ordinance (Cap. 2)

2. Loans Ordinance (Cap. 61)

3. Loans (Government Bonds) Ordinance (Cap. 64)

4. Legal Tender Notes Issue Ordinance (Cap. 65)

5. Exchange Fund Ordinance (Cap. 66)

6. Hong Kong Treasury Bills (Local) Ordinance (Cap. 74)

7. Public Revenue Protection Ordinance (Cap. 120)

8. Banking Ordinance (cap. 155)

9. Government Lotteries Ordinance (Cap. 334)

10. Trading Funds Ordinance (Cap. 430)

11. Coinage Ordinance (Cap. 454)

12. Financial Secretary Incorporation Ordinance (Cap. 1015)

1. The adaptation of "Crown" to "Government" in section 17B(1) of the Public Finance Ordinance (Cap. 2) and in section 131(1), (2) and (3) of the Banking Ordinance (Cap. 155) are in the context of provisions empowering the Attorney General to sue for recovery of sums due as a civil debt due to the Crown. The adaptation in item 22 of Schedule 1 to the Land Registry Trading Fund (Cap. 430 sub. leg.) is in respect of the title of the Crown Rights (Re-entry and Vesting Remedies) Ordinance (Cap. 126).