No Thomas
SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY IN LEGISLATIVE COUNCIL: WEDNESDAY 16 APRIL 1986
135
Banking (Amendment) Bill 1986
Sir,
The Bill provides for the increases in the annual licensing of banks, branches and local and overseas offices described in paragraph 107 of the
Budget Speech of 1986. The revised rates are set out in clauses 2, 3, 4 and 5 of the Bill which amend Sections 12(1), 12B (1) and (2), 12E (3) and 12H (3) of the Banking Ordinance. They came into effect on 1 April 1986 as a result of an Order signed by Your Excellency under the Public Revenue Protection Ordinance. The additional revenue yield from the increased fees for 1985-86 is estimated to be $12.5M.
Sir, I beg to move.
ARK (02/1
RECEIVED #
INDE
TRY
2 8 APR 1986
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