|271||Title:||LOANS (ASIAN DEVELOPMENT BANK) ORDINANCE||Gazette Number:|
|Section:||3||Heading:||Power to borrow from the Asian Development Bank||Version Date:||30/06/1997|
(1) The Government may, in such manner and on such terms and subject to such conditions as may be agreed between the Government and the Bank, borrow from the Bank sums not exceeding those specified in the First Schedule for the purposes of the projects specified with respect to such sums in the First Schedule.
(2) Any agreement between the Government and the Bank in respect of sums borrowed under the powers conferred by subsection (1) shall be made in the name of the Government of Hong Kong and may be signed on behalf of the Government by the Financial Secretary, or by any person authorized by him in writing.
(3) As soon as practicable after the execution of an agreement under this section, the Financial Secretary shall cause a copy of the agreement to be laid on the table of the Legislative Council.