Civil Service
Pension Reserve
Fund
Resolution of the Legislative Council
Resolution of the Legislative Council
(Format changes—E.R. 1 of
2017)
Resolution made and passed by the Legislative Council under section 29 of
the Public Finance Ordinance (Cap. 2) on 25 January
1995.
Resolved
that—
(a)
there shall be established a fund to be called the
Civil Service
Pension Reserve Fund
;(b)
the Fund shall be administered by the Financial Secretary who may delegate his
power of administration to other public officers;
(c)
there shall be credited to the Fund—
(i)
such moneys as may be appropriated for the purpose; and
(ii)
all sums received by way of interest or dividend on moneys invested under
paragraph (f);
(d)
the Financial Secretary may expend moneys from the Fund for the purpose of
meeting the liabilities for payment of pensions, gratuities or other allowances
under the Pensions Ordinance (Cap. 89), the Pension
Benefits Ordinance (Cap. 99) or the Pension Benefits
(Judicial Officers) Ordinance (Cap. 401) if, at the end
of any month in a financial year, he believes that the balance in the General
Revenue Account will be in deficit at the end of that financial year, having taken
into account all anticipated receipts and payments;
(e)
the Director of Accounting Services shall, under the authority of a funds
warrant issued by the Financial Secretary, pay from the Fund such sums as may be
required to meet expenditures from the Fund;
(f)
the Financial Secretary in his discretion may authorize the investment in such
manner as he may determine of any moneys held in the Fund at any time.