Exchange Fund Ordinance

A statute originally enacted as the Currency Ordinance of 1935. The Exchange Fund Ordinance makes provision for the establishment and management of the Exchange Fund and the employment of its assets. The Ordinance requires that the Exchange Fund "shall be used primarily for such purposes as the Financial Secretary thinks fit affecting, either directly or indirectly the exchange value of the currency of Hong Kong and for other purposes incidental thereto." The Financial Secretary may, having regard to that primary purpose and with a view to maintaining Hong Kong as an international financial centre, use the Exchange Fund for maintaining the stability and integrity of the monetary and financial systems of Hong Kong. It also empowers the Financial Secretary to appoint the Monetary Authority to manage the Exchange Fund, among other duties.