### Agricultural Products (Marketing) Ordinance 《農產品(統營)條例》

7. Borrowing powers
With the consent of the Chief Executive in Council, the Director may, for any of the purposes of this Ordinance, borrow money in such manner and upon such security as he may consider expedient.
(Replaced 35 of 1962 s. 4. Amended 65 of 1999 s. 3)

8. Financial control and investments
(1)  The Director shall prepare and submit annually to the Chief Executive for his approval estimates of income and expenditure in respect of the next succeeding year and shall not, except with the prior approval of the Chief Executive, incur any expenditure in excess of that specified in the estimates as approved by the Chief Executive:
Provided that nothing in this subsection shall be construed to prevent the Director from incurring and making provision for reasonable day to day expenses pending the approval of the annual estimates. 
(2) All moneys received, including any moneys borrowed, by the Director shall be brought to account and shall be administered by the Director for the purposes of this Ordinance, and any moneys so brought to account may be invested by him in such securities or deposited in such manner in Hong Kong as the Financial Secretary may from time to time approve for that purpose.
(Added 35 of 1962 s. 4. Amended 65 of 1999 s. 3)

9. Accounts
(1) The Director shall cause proper accounts to be kept of all transactions and shall cause to be prepared for every period of 12 months ending the 31st March in each year a statement of the accounts of the fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the Director.
(2) The accounts and the signed statement of the accounts shall be audited by an auditor, appointed from time to time by the Chief Executive, who shall certify the statement subject to such report, if any, as he may think fit.
(3) A copy of the signed and audited statement of accounts together with the auditor’s report, if any, and a report by the Director on the administration of the fund during the period covered by the audited accounts shall be laid upon the table of the Legislative Council not later than the 31st October next following the end of such period or so soon thereafter as the Chief Executive, in his absolute discretion, may allow. (Amended 13 of 1978 s. 4)
(Added 35 of 1962 s. 4. Amended 65 of 1999 s. 3)

### Agricultural Products (Marketing) Ordinance 《農產品(統營)條例》

9A. Establishment and vesting of fund
(1) There is hereby established a trust fund, to be known as the Agricultural Products Scholarship Fund, which is vested in the Director as trustee.
(2) The trustee shall hold the fund upon the trusts and subject to the provisions contained in this section and sections 9B, 9C, 9D and 9E.
(3) The fund shall consist of—
(a) the sum of $1,000,000 which shall be appropriated for that purpose by the Director from moneys received by him under this Ordinance; and
(b) such further moneys and assets as may be—
(i) donated, subscribed or bequeathed to, and accepted by the trustee; or
(ii) otherwise acquired by the trustee.
(Added 13 of 1978 s. 5)

9B. Objects of the fund
The trustee shall apply the fund for the following objects—
(a) the provision of scholarships, grants and loans for the education and training of persons who are employed in agriculture and agricultural product marketing industries in Hong Kong and their families and dependants; and
(b) the provision of scholarships, grants and loans for the education and training of persons who wish to enter the agriculture and agricultural product marketing industries in Hong Kong.
(Added 13 of 1978 s. 5)

9C. Cost of administering the fund
(1) The cost of the administration of the fund and costs incurred by the Committee in the discharge of its functions under this Part, other than any audit fee paid under section 9E which shall be a charge on the fund, shall be paid from moneys, other than the fund, received by the Director under this Ordinance.
(2) The Financial Secretary may direct that an annual supervision fee to be determined by him shall be charged against the income of the fund and paid into the general revenue of Hong Kong.
(Added 13 of 1978 s. 5)

9D. Investment
The trustee may invest any of the moneys of the fund in investments of any kind whether such investments are permitted for the investment of trust funds or not, subject, in the case of investments which are not so permitted, to the prior approval of the Financial Secretary.
(Added 13 of 1978 s. 5)

### Agricultural Products (Marketing) Ordinance 《農產品(統營)條例》

9E. Accounts
(1) The trustee shall cause proper accounts to be kept of all transactions and shall cause to be prepared for every period of 12 months ending the 31st March in each year a statement of the accounts of the fund, which statement shall include an income and expenditure account and balance sheet and shall be signed by the trustee.
(2) The accounts and the signed statement of the accounts shall be audited by an auditor, appointed from time to time by the Chief Executive, who shall certify the statement subject to such report, if any, as he may think fit.
(3) A copy of the signed and audited statement of accounts together with the auditor’s report, if any, and a report by the trustee on the administration of the fund during the period covered by the audited accounts shall be laid upon the table of the Legislative Council not later than the 31st October next following the end of such period or so soon thereafter as the Chief Executive may in his discretion allow.
(Added 13 of 1978 s. 5. Amended 65 of 1999 s. 3)

9F. Establishment of Advisory Committee
(1) There shall be established a committee to be known as the Agricultural Products Scholarship Fund Advisory Committee.
(2) The Committee shall advise the trustee on all matters whatsoever touching the administration of the fund and the attainment of the objects thereof.
(3) The Committee shall consist of—
(a) the trustee;
(b) 3 other members of the Marketing Advisory Board to be elected annually by the said Board;
(c) 2 public officers and 2 members of the public to be appointed by the Chief Executive. (Amended 65 of 1999 s. 3)
(4) The trustee shall be ex officio the chairman of the Committee, but in the event of his absence from any meeting the members present shall appoint any other of its members as chairman.
(5) Four members of the Committee shall form a quorum.
(6) The trustee shall appoint a public officer to be the secretary to the Committee.
(7) The Committee may regulate its own procedure.
(Added 13 of 1978 s. 5)