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MR.
MARTIN LEE :
Sir, although the Financial Secretary
has not given us an advance copy of his oral answer, I
have given him a courtesy advance copy of my supplementary
question in three parts. Will the Financial Secretary
please confirm that all the proceeds to be collected by
banks from Hong Kong dollar deposits arising from the
imposition of negative interest rates will go to the
Government? And, if so,
is this not in the nature of a
tax rather than a banking charge provided for in section
12(1)(e) of the Hong Kong Association of Banks Ordinance?
And will the Financial Secretary please explain why this
Council has been bypassed by the Government in its
imposition of this indirect tax?
FINANCIAL SECRETARY : Yes, thank you, Sir. I thank Mr.
Martin LEE for his courtesy
for his courtesy in giving me an advance copy
of his supplementary.
time to give a copy
took some time to
I am afraid that I did not have
of the main answer which of course
prepare. In any event, I have the
greatest confidence in Members of this Council in asking
supplementaries without having an advance copy of the main
answer.