### Loans (Government Bonds) Ordinance 《借款(政府債券)條例》

6. Sinking fund
(1) The Government may create a sinking fund for—
(a) the payment of expenses of, or incidental to, the redemption of an issue of Government bonds; and
(b) the redemption of an issue of Government bonds.
(2) Subject to sections 7 and 8, where a sinking fund is created under subsection (1) the Government shall pay into that fund such sums at such times as may be specified in the prospectus relating to that issue of Government bonds.
(3) All payments into the sinking fund under subsection (2) shall be appropriated out of the general revenue and assets of Hong Kong.
(4) Pending the application of the sinking fund for the purposes specified in subsection (1), the moneys in that fund shall be placed at interest or invested in such securities as the Financial Secretary may determine.
(5) Any securities purchased under subsection (4) may be sold by the Director of Accounting Services with the prior approval of the Financial Secretary. (Amended L.N. 16 of 1977; L.N. 453 of 1993)

7. Cesser of contributions to sinking fund
(1) Where the Financial Secretary is satisfied that the value of a sinking fund is sufficient with further accumulations of interest, but without further payments under section 6(2), to redeem the issue of Government bonds in respect of which it was created not later than the final redemption date thereof, he may suspend further payments under section 6(2) to that fund.
(2) The Financial Secretary may recommence such payments at any time if he thinks fit.

8. Redemption and purchase
(1) Subject to the approval of the Financial Secretary, the Director of Accounting Services may at any time apply the whole or part of a sinking fund, or any appropriation made under section 6(3), for the purpose of redeeming or purchasing Government bonds in respect of which such fund or appropriation was created or made, as the case may be, at a price not exceeding the nominal value of such bonds.
(2) Any Government bond redeemed or purchased shall be surrendered to the Director of Accounting Services for cancellation.
(Amended L.N. 16 of 1977; L.N. 453 of 1993)

9. Exemption from stamp duty
No stamp duty shall be payable in respect of Government bonds.

10. Exchange for Government bonds
The Financial Secretary may, with the consent of the holder of any bond issued under the Hong Kong (Rehabilitation) Loan Ordinance*, exchange such bond for Government bonds on such terms and conditions as may be agreed.
Editorial Note:
* Repealed—see 76 of 1984 s. 4.

### Loans (Government Bonds) Ordinance 《借款(政府債券)條例》

11. Powers of Financial Secretary
Subject to section 5, the Financial Secretary may—
(a) determine the form of Government bonds;
(b) arrange for the issue in the first instance of provisional certificates, which may be exchanged for Government bonds;
(c) determine the days for payment of interest;
(d) arrange for the issue of coupons for the payment of interest;
(e) arrange for the replacement of defaced, lost or destroyed Government bonds or interest coupons;
(f) determine the manner of payment of interest and redemption moneys.

### Trade Boards Ordinance 《行業委員會條例》

1. Short title
This Ordinance may be cited as the Trade Boards Ordinance.

2. Trade Boards and minimum wages
(1) The Chief Executive in Council may, at any time he thinks fit, by Government notification published in the Gazette, fix minimum rates of wages for any trade in Hong Kong either generally or in any specified area or district in any case in which he is satisfied that the minimum rates of wages being paid to any persons employed in any such trade are unreasonably low. Every notification fixing minimum rates of wages may be varied from time to time or revoked.
(2) For the purpose of instituting, making, and conducting any inquiry that may be deemed advisable in connexion with fixing any minimum rates of wages in any trade under this Ordinance, and for reporting thereon, the Chief Executive may at any time establish for any trade, or for any branch of work in a trade, a Trade Board, consisting of members representing employers and members representing workers, in this Ordinance referred to as representative members

3. Application of Cap. 86
The provisions of sections 3 to 10 of the Commissioners Powers Ordinance* shall apply to any Board so appointed.

Editorial Note:
* See 1968 Extractions—Cap. 86, 1964 Revised Edition

4. Duties and powers of Trade Boards with respect to minimum rates of wages
Every Trade Board shall, subject to the provisions of this section, recommended a minimum rate of wages for time-work in their trade, in this Ordinance referred to as a general minimum time-rate

### Trade Boards Ordinance 《行業委員會條例》

6. Liability of agents and other persons
(1) Where an offence for which an employer is by virtue of this Ordinance liable to a fine has in fact been committed by some agent of the employer or other person, that agent or other person shall be liable to be proceeded against for the offence in the same manner as if he were the employer, and either together with, or before or after the conviction of, the employer, and shall be liable on conviction to the same punishment as that to which the employer is liable.
(2) Where an employer who is charged with an offence against this Ordinance proves to the satisfaction of the court that he has used due diligence to enforce the execution of the Ordinance, and that the offence was in fact committed by his agent or some other person without his knowledge, consent, or connivance, he shall, in the event of the conviction of that agent or other person for the offence, be exempt from any fine in respect of the offence, without prejudice, however, to the power of the court under section 5(2) and (3) to adjudge him to pay any sum which appears to the court to be due to the person employed on account of wages. (Amended E.R. 4 of 2021)
(3) Where the immediate employer of any worker to whom a minimum rate of wages applies is himself in the employment of some other person and that worker is employed on the premises of that other person, that other person shall for the purposes of the provisions of this Ordinance relating to the penalty for not paying wages in accordance with the minimum rate be deemed to be the employer of the worker jointly with the immediate employer.
[cf. 1918 c. 32 s. 5 U.K.]

7. Provision for case of persons employed by piece-work where a minimum time-rate but no general minimum piece-rate has been fixed
(1) An employer shall, in cases where persons are employed on piece-work and a general minimum time-rate but no general minimum piece-rate has been fixed, be deemed to pay wages at less than the minimum rate—
(a) in cases where a special minimum piece-rate has been fixed under the provisions of this Ordinance for persons employed by that employer, if the rate of wages paid is less than that special minimum piece-rate; and
(b) in cases where a special minimum piece-rate has not been so fixed, unless he shows that the piece-rate of wages paid would yield, in the circumstances of the case, to an ordinary worker at least the same amount of money as the basis rate.
(2) For the purpose of this section the expression basis rate (基本工資率) means the general minimum time-rate or, where a rate, in this Ordinance referred to as a piece-work basis time-rate