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REVENUE REWARD FUND
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WEDNESDAY, JANUARY 8, 1975.
THE LEGISLATIVE COUNCIL TODAY APPROVED A MOTION TO ENABLE A MONTILY TRANSFER FROM THE REVENUE REWARD FUND OF ANY SUM IN EXCESS OF $200,000 TO THE DEVELOPMENT LOAN FUID RATHER THAN TO GENERAL REVENUÉ SO AS TO ENABLE SUCI EXCESS TO DE USED BY THE DEVELOPMENT LOAN FUND AS AND WHEN REQUIRED.
IN MOVING THE MOTION, THE FINANCIAL SECRETARY, THE HON. PHILIP HADDON-CAVE SAID AS THE REVENUE REWARD FUND COULD BE REGARDED AS A WINDFALL TO PUBLIC REVENUE AND AS THE DEVELOPMENT LOAN FUND WAS IN NEED OF FUNDS FROM VARIOUS SOURCES, IT WAS BOTH LOGICAL AND CONVENIENT TO TRANSFER EXCESS SUMS TO THE FUND.
THE OPPORTUNITY WAS ALSO TAKEN TO UPDATE AND TO TIDY UP OTHER PROVISIONS IN THE CURRENT RESOLUTION.
+FIRSTLY, THE WORD CONTRABAND+ IS REDEFINED AS ANY GOODS LIABLE TO FORFEITURE UNDER THE IMPORT AND EXPORT ORDINANCE OR THE DUITABLE COMMODITIES ORDINANCE,+ HR. HADDON-CAVE SAID.
+SECONDLY, THE LIMITS FOR REWARDS FOR INFORMATION ARE REVISED SO THAT REWARDS PAID IN ANY ONE CASE MAY NOT EXCEED $25,000 WITHOUT THE CONSENT OF THE FINANCIAL SECRETARY AND $50,000 WITHOUT THE CONSENT OF THE FINANCE COMMITTEE OF THIS COUNCIL.+
THE PRESENT LIMITS OF $250 AND $10,000 RESPECTIVELY WERE SET 25 YEARS AGO IN 1949.
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TODAY.
BILLS PASSED
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FIVE BILLS WERE PASSED INTO LAW IN THE LEGISLATIVE COUNCIL
THEY WERE THE RATING (AMENDMENT) BILL 1975, THE INTERPRETATION AND GENERAL CLAUSES (AMENDMENT) BILL 1975, THE MARRIAGE (AMENDMENT) BILL 1975, THE FIXED PENALTY (TRAFFIC CONTRAVENTIONS) BILL 1975 AND THE LANDLORD AND TENANT (CONSOLIDATION) (AMENDMENT) (AMENDMENT) BILL 1975.
AN UNOFFICIAL MEMBER'S BILL, THE GIRL GUIDES ASSOCIATION (HONG KONG BRANCH) (AMENDMENT) BILL 1975, WAS ALSO PASSED.
THREE OTHER BILLS WERE INTRODUCED INTO THE COUNCIL FOR THE FIRST AND SECOND READING. THEY WERE THE EXCHANGE FUND (AMENDMENT) BILL 1975, THE LANDLORD AND TENANT (CONSOLIDATION) (AMENDMENT) (NO. 2) BILL 1975 AND THE ACETYLATING SUBSTANCES. (CONTROL) BILL 1975.
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