### Exchange Fund Ordinance 《外匯基金條例》

6. Charges on Fund
There shall be charged to the Fund—
(a)  the emoluments payable to, and other staff costs relating to, the persons employed in connection with the purposes of the Fund, including the investment thereof, and also including any appropriate share of such emoluments or staff costs in respect of the services of public officers so employed as part of their duties:
Provided that the number of appointments and the emoluments of such staff have been approved by the Financial Secretary; (Replaced 26 of 1983 s. 4) 
(aa) any expenses incurred in the issue and maintenance in circulation of any coinage issued under or by virtue of the Coinage Ordinance (Cap. 454); and (Added 26 of 1983 s. 4. Amended 81 of 1994 s. 7)
(b) any incidental expenditure which the Chief Executive may approve as necessary for the due performance of the duties laid upon the Financial Secretary and the Advisory Committee in connection with the operation of the fund. (Replaced 44 of 1936 s. 3. Amended 12 of 1946 s. 2; 20 of 1948 s. 4; 68 of 1999 s. 3)

7. Audit of Fund
The accounts of all transactions of the Fund shall be audited at such times and in such manner as the Chief Executive may from time to time direct.
(Amended 44 of 1936 s. 3; 26 of 1983 s. 5; 68 of 1999 s. 3)

8. Transfer from the Fund
Where the Financial Secretary is satisfied that such transfer is not likely to affect adversely his ability to fulfill any purpose for which the Exchange Fund is required to be or may be used under section 3(1) or (1A), he may, after consulting the Exchange Fund Advisory Committee, and with the prior approval of the Chief Executive in Council, transfer from the Fund to the general revenue or to such other fund or funds of the Government as may be authorized by the Chief Executive in Council any sum or part of any sum in excess of the amount required to maintain the assets of the Fund at 105% of the total obligations of the Fund for the time being outstanding and may for the purpose of any such transfer realize any of the assets of the Fund.
(Replaced 12 of 1995 s. 7. Amended 68 of 1999 s. 3)

### Legal Tender Notes Issue Ordinance 《法定貨幣紙幣發行條例》

1. Short title
This Ordinance may be cited as the Legal Tender Notes Issue Ordinance.
(Amended 5 of 1924 s. 6; 98 of 1995 s. 3)

2. Interpretation
In this Ordinance, unless the context otherwise requires—
bank (銀行) includes any person, partnership, or company carrying on the business of banking within Hong Kong;

legal tender notes (法定貨幣紙幣)—
(a) means—
(i) currency notes issued in Hong Kong by the Financial Secretary pursuant to section 3(1); and
(ii) bank notes issued in Hong Kong by a note-issuing bank in accordance with the terms and conditions (if any) to which its authorization (or deemed authorization) under section 3(2) is subject; and
(b) includes any bank notes which were legal tender pursuant to this Ordinance as in force immediately before the commencement* of the Bank Notes Issue (Amendment) Ordinance 1995 (98 of 1995);

note-issuing bank (發鈔銀行) means a bank which is—
(a) authorized (or deemed to be authorized) under section 3(2); and
(b) specified in the Schedule for the purposes of this definition.

(Replaced 98 of 1995 s. 4)

### Legal Tender Notes Issue Ordinance 《法定貨幣紙幣發行條例》

4. Legal tender notes to be legal tender and the currency of Hong Kong
Subject to section 5, all legal tender notes shall be legal tender in Hong Kong to any amount and any liability to pay silver currency may be discharged in such notes and in particular every such note shall be deemed to be the currency of Hong Kong for the purpose of any promise to pay printed thereon.
(Replaced 98 of 1995 s. 4)

5. Demonetization of certain legal tender notes
(1) The Financial Secretary may from time to time demonetize any legal tender note referred to in paragraph (a)(i) of the definition of legal tender notes

5A. Regulations made under section 659 of the Companies Ordinance (Cap. 622) not to apply to bank notes issued by a note-issuing bank
(Amended 28 of 2012 ss. 912 & 920)Any regulation made under section 659 of the Companies Ordinance (Cap. 622) does not apply to bank notes issued by a note-issuing bank.
(Added 63 of 1989 s. 2. Amended 28 of 2012 ss. 912 & 920)

6. Amendment of Schedule
The Financial Secretary may, with the approval of the Chief Executive in Council, by notice in the Gazette amend the Schedule.
(Replaced 98 of 1995 s. 5. Amended 68 of 1999 s. 3)

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

1. Short title
This Ordinance may be cited as the Loans (Government Bonds) Ordinance.

2. Interpretation
In this Ordinance, unless the context otherwise requires—
Government bond (政府債券) means a bond issued by the Government under this Ordinance;
loan (借款) means a loan raised by the issue of Government bonds.

3. Power to raise loans
The Government may, by the issue of bearer bonds, raise in Hong Kong such loans for such purposes as may be approved by resolution of the Legislative Council.

4. Appropriation and charge of loans
(1) Except in the case of a loan raised for the purposes of the general revenue, a loan shall be applied and is appropriated to the purposes for which it is raised:
Provided that any part of a loan which cannot be applied to those purposes may be applied to such other purposes as may be approved by the Financial Secretary.
(2) Where expenditure must be incurred in respect of any purpose for which a loan is being raised prior to the raising of the loan, such expenditure shall be charged as an advance pending reimbursement from such loan and the maximum amount which may be so advanced in any financial year in connexion with that purpose shall be approved by resolution of the Legislative Council.
(3) Loans and all interest and other charges thereon are charged on and shall be payable out of the general revenue and assets of Hong Kong.
(4) Any expenses of or incidental to the raising of a loan may be defrayed from that loan.

5. Terms of issue of Government bonds
(1) Subject to subsection (2), Government bonds shall—
(a) bear interest at such rate;
(b) be issued at such price and in such denominations; and
(c) be issued for such periods and subject to such terms,
as the Chief Executive may determine. (Amended 68 of 1999 s. 3)
(2) The period for which any Government bonds are issued may be extended for such further period as the Financial Secretary and the holders thereof may agree and during that further period shall bear interest at such rate as may be so agreed.
(3) Government bonds and interest coupons relating thereto shall be transferable by delivery.