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MR. HUI : Sir, has Government
imposition of negative interest
Community
Chest, subvented
considered exempting the
for the Government, the
organisations, and other
charitable organisations? If so, is the administration of
negative interest rates going to become impossibly
complicated?
FINANCIAL SECRETARY : Sir, obviously there are cases for
The point I wish to emphasise is that we
some exemptions.
are not yet in a position in which negative interest rates
Now it may be that some
are actually being implemented.
organisations
will claim that negative
should not be applied to them because
interest rates
they are not
speculators and obviously difficult questions of
interpretation and administration will apply. I can only
suggest to anyone who feels that they are in this position
that they should talk the matter over with their banks. A
to examine these difficult
committee has been established
cases.