### Airport Authority Ordinance 《機場管理局條例》

26. Dividends; profits
(1) The Authority may declare and pay into the general revenue dividends on shares issued to the Government under section 23(3).
(2) The Financial Secretary may, after consultation with the Authority and having had regard to the financial position of the Authority and its subsidiaries (if any) and to such other matters as he considers relevant in the circumstances, direct the Authority—
(a) to declare and pay to the general revenue a dividend of an amount specified by him; and
(b) to take such steps as are within the power of the Authority to procure the declaration and payment to the Authority by a subsidiary specified in the direction of a dividend of an amount or rate so specified.
(3) A direction given by the Financial Secretary under subsection (2) may not require the Authority—
(a) to declare or pay a dividend otherwise than out of the profits of the Authority which would be available for distribution were the Authority a company; or
(b) to procure the declaration and payment of a dividend by a subsidiary otherwise than in accordance with the laws applying to it.
(4) Where a direction is given under this section, the Authority shall comply with the direction and such a direction may require the moneys payable on account of the relevant dividend to be paid within a period and in a manner so specified in the direction.

27. Reserve funds
(1) Subject to subsection (2), the Authority may establish and maintain general and special reserve funds and credit thereto such sums as it thinks fit and make such disbursements therefrom as are consistent with this Ordinance.
(2) (a) Where the Authority proposes to establish a general or special reserve fund it shall only do so with the prior approval of the Financial Secretary.
(b) Subject to subsection (3), where the Financial Secretary, after consultation with the Authority and having had regard to the matters he is required to have regard to by section 26(2), so directs, the Authority shall—
(i) carry the whole of the profits to which this subsection applies, or such part thereof as is specified in the direction, to the credit of such special reserve fund as is so specified; or
(ii) pay to the general revenue the whole of any sum, or such part thereof as is so specified, being a sum standing to the credit of the reserve fund referred to in subparagraph (i).
(3) Notwithstanding anything contained in this Ordinance or in any other enactment, at the Authority’s request the Financial Secretary may give an undertaking to, or make an agreement with, any person whereby the powers conferred under subsection (2)(b) or either of those powers shall not be exercisable in circumstances specified in the undertaking or agreement.
(4) Subsection (2) applies to profits of the Authority which would be available for distribution were the Authority a company.

### Airport Authority Ordinance 《機場管理局條例》

28. Borrowings, etc.
(1) Subject to subsections (3) and (4), the Authority may, in such manner and on such terms and conditions as it thinks fit, borrow or otherwise raise money (including money in a currency other than the currency of Hong Kong).
(2) Subject to subsection (4) and to section 23(5), the Authority may create and issue, either in the currency of Hong Kong or in any other currency, bonds, notes or other securities, or negotiable instruments.
(3) The powers conferred by this section may only be exercised to provide the Authority with such sums or credits as it may require for—
(a) performing the functions conferred on it by this Ordinance;
(b) repaying, or facilitating the repayment of, money previously borrowed or otherwise raised by it and paying any interest on or any premium or other charge or incidental expense arising as regards such money; or
(c) paying any money recoverable under section 29(7).
(4) (a) The Chief Executive may issue a direction in writing given for the purposes of this section and directing the Authority not to borrow any sum (or its equivalent in a currency other than the currency of Hong Kong) which exceeds an amount specified in the direction without the prior written consent of the Financial Secretary. (Amended 36 of 1999 s. 3)
(b) For so long as a direction under this subsection is in force the Authority shall comply with it.
(5) Where a security or a negotiable instrument is created or issued by the Authority or such a security or instrument is transferred or assigned from one person to another, nothing in this or any other Ordinance or law shall be construed as requiring the Authority to supply a certificate or other document, or any other material thing, for such creation, issue, transfer or assignment to be effective.
(6) In exercising the powers conferred on it by section 7 the Authority may acquire property under an agreement providing for the payment of the whole or part of the purchase price by instalments.

29. Guarantees etc. by Government
(1) (a) The Legislative Council or its Finance Committee may from time to time by a resolution (an authorizing resolution

### Airport Authority Ordinance 《機場管理局條例》

30. Power to hedge, etc.
(1) The Authority may enter into any contract or other agreement, transaction or arrangement in connection with its financial affairs.
(2) Without affecting the generality of subsection (1), a contract or other agreement or a transaction or arrangement referred to in that subsection may have as its object or purpose the elimination, amelioration, alleviation, reduction, counterbalancing, or covering in any other manner or making any other provision regarding, all or any of the consequences arising for the Authority from any 1 or more of the following, namely, the burden of interest, either arising for the Authority on its borrowings or so arising in relation to obtaining goods or services, changes in interest rates or currency values or exchange rates or any financial risk apart from the foregoing to which the Authority is, or may be, exposed.
(3) Any currency to which a contract, or other agreement, or a transaction or arrangement referred to in subsection (1) relates may be a currency other than that of Hong Kong.

31. Audit Committee
(1) There is hereby established a committee to be known as the “Airport Authority Audit Committee”. (Amended E.R. 6 of 2019)
(2) (a) The Audit Committee shall consist of such number of members, not being less than 3, as the Authority shall determine.
(b) The members of the Audit Committee shall be appointed by the Authority but neither the Chief Executive Officer nor any other employee of the Authority shall be so appointed.
(c) The chairman of the Audit Committee shall be appointed by, and shall be a member of, the Authority.
(d) The term of office of a member of the Audit Committee (including its chairman) shall be fixed by the Authority at the time of his appointment.
(3) The Audit Committee shall hold so many meetings as are required to enable it to perform its functions.
(4) The functions of the Audit Committee are—
(a) to consider such matters relating either to the financial affairs of the Authority or to audits generally under section 32(3) or a particular such audit, as the Audit Committee considers necessary or desirable;
(b) to consider any matter (whether financial or otherwise, including audits under section 32(3) or a particular such audit) referred to it by the Authority for consideration; and
(c) such other functions (if any) as are delegated to it under section 9.
(5) The Audit Committee may regulate its own procedure and business.

### Airport Authority Ordinance 《機場管理局條例》

33. Estimates etc.
For the purposes of record, the Authority shall before the end of each financial year, send to the Financial Secretary—
(a) an estimate of its expenditure and revenue for the next financial year together with its business plan for the period of 5 years beginning on the first day of the next financial year; and
(b) its financial plan for the period of 5 years beginning on the first day of the next financial year covering in relation to that period its investments, its business forecast, its criteria for charges and its staffing.