- (b) to require such information and explanation, as he considers necessary to perform his functions.
(3) The auditor shall audit the statement of accounts prepared under section 18(2) and make a report to the Board on the audit of that statement.
(4) A report made under subsection (3) shall contain a statement by the auditor as to whether in his opinion the statement of accounts gives a true and fair view of the matters to which the statement of accounts relates.
20. Statements and reports to be laid before Legislative Council
(1) The Board shall, within 4 months after the end of each financial year of the Fund or such further time as the Financial Secretary may for any particular year allow, submit to the Financial Secretary—
- (a) a report on the activities of the Board for that financial year;
- (b) a copy of the statement of accounts prepared under section 18(2) for that financial year; and
- (c) a copy of the report made under section 19(3) on the audit of that statement.
(2) The Financial Secretary shall cause the reports and statement received by him under subsection (1) to be laid on the table of the Legislative Council.
21. Investment of money
(1) The Board may place, or invest, money of the Fund that is not immediately required by the Board for the performance of its functions in the following—
- (a) deposits with the Monetary Authority for the account of the Exchange Fund;
- (b) Exchange Fund Bills;
- (c) US Treasury Bills;
- (d) subject to subsection (2), exchange rate contracts or interest rate contracts, including derivative products;
- (e) any other investment approved by the Financial Secretary.
(2) The Board shall not place, or invest, money of the Fund in exchange rate contracts or interest rate contracts except for hedging purposes.
