The LegCo Reporter
Issue No. 22 (2 June 2005)

At its meeting on 1 June 2005, the Legislative Council passed the following two bills:

(1)Immigration (Amendment) Bill 2005.

(2)Federation of Hong Kong Industries (Amendment) Bill 2005.

At the same meeting, the Council passed the following resolution:

The following motion with no legislative effect was also passed by the Council:

    Motion on "Investment income of the Exchange Fund", moved by Hon SIN Chung-kai as amended by Hon CHAN Kam-lam

    "That this Council urges the Government to review the existing methodology for sharing the Exchange Fund's investment income between the Government and the Hong Kong Monetary Authority, allocate more investment income of the Exchange Fund to the Government, and ensure that there is stable government revenue from the investment income; in determining the level of the Exchange Fund's investment income to be allocated to the Government, the principle of keeping expenditure within the limits of revenues in drawing up the budget, striving to achieve a fiscal balance, avoiding deficits and keeping the budget commensurate with the growth rate of the gross domestic product must be strictly followed."