Objects and Reasons.
1. It has been decided that, for the time being at any rate, the duty on cash-sweep tickets sold and on cash-sweep chances allocated by list, which was increased in 1940 from five per cent. to ten per cent. can be further increased to fifteen per cent, without serious risk of the increase of duty resulting by reduction of patronage to a loss in revenue.
2. Clause 3 of this Bill provides for an amendment to section 6 (2) of the principal Ordinance to give effect to this decision.
3. It is the intention of the Government that in this case, as was the case with the 1940 amendment, that the increased duty should be borne by the betting public. To achieve that result as nearly as practicable clause 2 of the Bill amends the proviso to the principal Ordinance of 1931, as amended in 1940, by altering the percentages of the total contributions or subscriptions which, after deduction of the duty, must be devoted to prizes for the subscribers.
4. The Kwangtung Handicap Race is excluded from the increase as the terms on which that Race will be run has been announced to the public and tickets have been sold for this Race on the existing basis of percentages.
August, 1941.
C. G. ALABASTER,
Attorney General.
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