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Speech by the Honourable the Chief Secretary Mr David Ford, LVO, OBE, SP
in the Legislative Council on 9 December 1987
Second Reading of Bills
K
Betting Duty (Amendment) Bill 1987
The Chief Secretary moved the Second Reading of 'A Bill to amend the Betting Duty Ordinance'.
Sir,
I move the Second Reading of the Betting Duty
(Amendment) Bill 1987.
Under the Betting Duty Ordinance, the Hong Kong Lotteries Board may use the facilities of the Royal Hong Kong Jockey Club for conducting permitted lotteries and At
to
lic. reimburse the Club for the actual operating costs.
present, only the Mark Six is licensed.
per per cent
ه مردم
The current practice is for the Jockey Club to
cent deduct a provisional 9.5% of the proceeds after each lottery to cover its operating expenses. After accounting for prizes and betting duty at 59% and 30% respectively, the balance of 1.5% of the proceeds is paid into the
cent
l.c
ぐ
Lotteries Fund. At the end of the Club's financial year when the actual operating costs are available, the Club is required to pay any surplus into, or recover any deficiency, from the Lotteries Fund. This element of uncertainty hinders the accurate forward planning of the
l.c. Fund.
There are also increasing difficulties in
separating lottery operating costs from those related to horse-race betting as both share the same computer system.