THURSDAY, JULY 30, 1981
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FEE AMENDMENTS APPROVED
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TWO AMENDMENTS TO THE LAW PRESCRIBING THE FEES AND PERCENTAGES PAYABLE IN RELATION TO THE WINDING UP OF COMPANIES AND THOSE TO BE CHARGED IN RESPECT OF PROCEEDINGS UNDER THE BANKRUPTCY ORDINANCE WERE APPROVED BY THE LEGISLATIVE COUNCIL TODAY (THURSDAY).
THE COMPANIES (FEES AND PERCENTAGES) (AMENDMENT) ORDER 1981, WHICH WAS MADE BY THE ACTING CHIEF JUSTICE ON JULY 20, 1981,
INTRODUCES THREE CHANGES TO THE PRINCIPAL ORDER.
FIRST, IT PROVIDES THAT PAYMENT OF CERTAIN FEES AND PERCENTAGES PREVIOUSLY REQUIRED TO BE TAKEN IN STAMPS MAY NOW BE TAKEN IN CASH.
SECOND, IT REVISES THE PRESCRIBED FEES IN THE THIRD SCHEDULE OF THE PRINCIPAL ORDER BY INCREASING MOST OF THEM BY 50 PER CENT.
THIRD, IT REMOVES THE MAXIMUM FEE FOR PAYMENTS OUT OF THE COMPANIES LIQUIDATION ACCOUNT IN RESPECT OF UNCLAIMED DIVIDENDS.
IN MOVING THE AMENDMENT, THE SECRETARY FOR ECONOMIC SERVICES THE HON P. JACOBS SAID SINCE THE LAST REVIEW OF THESE FEES AND PERCENTAGES IN 1975, THE COSTS IN THE OFFICIAL'S RECEIVER'S OFFICE OF THE REGISTRAR GENERAL'S DEPARTMENT HAD INCREASED, AND THE OFFICIAL RECEIVER HAD BEEN OPERATING AT A LOSS.
THE BANKRUPTCY (FEES AND PERCENTAGES) SCALE (AMENDMENT) NOTICE 1981, ALSO MADE BY THE ACTING CHIEF JUSTICE ON JULY 20, 1981, REVISÉS THE FEES PRESCRIBED ON THE BASIS OF INCREASED COST OF ADMINISTERING THE OFFICIAL RECEIVER'S OFFICE.
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