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BONESE.T. TE
+ACCORDINGLY WE PROPOSED THAT PAWNBROKERS' LIABILITY TO PAY COMPENSATION WHERE LOSS OR DAMAGE HAD OCCURRED AS A RESULT OF FIRE OR THEFT, SHOULD BE LIMITED, HE SAID.
+WE PROPOSED THAT ONLY WHERE SUCH LOSS OR DAMAGE COULD BE ATTRIBUTED TO THE NEGLIGENCE OF THE PAWNBROKER, SHOULD THE PAWNBROKER BE LIABLE.
+1 AM PLEASED TO SAY THAT THE ADMINISTRATION AGREED WITH US AND AGREED TO AMEND THE BILL ACCORDINGLY, HE ADDED.
HE SAID. THAT THE GROUP'S ATTENTION WAS ALSO DRAWN TO THE DIFFICULTIES OF ACCURATELY ASSESSING THE VALUE OF PAWNED ITEMS FOR INSURANCE PURPOSES AND OF THE OPEN-ENDED FINANCIAL LIABILITY OF BROKERS WHEN COMPENSATION WAS REQUIRED.
+WE ARE ACCORDINGLY HAPPY THAT THE ADMINISTRATION HAS AGREED TO LIMIT THE MAXIMUM LIABILITY OF THE BROKER TO THE MAXIMUM LOAN LIMIT SET UNDER THE BILL, HE SAID.
+WE CONSIDER THIS TO BE A FAIR ARRANGEMENT AND SUPPORT THE AMENDMENT, + HE ADDED.
IN HIS SPEECH, THE SECRETARY FOR SECURITY, THE HON DAVID JEAFFRESON, POINTED OUT THERE HAD BEEN A GREAT DEAL OF CONSULTATION BETWEEN THE GOVERNMENT, LEGCO UNOFFICIALS AND REPRESENTATIVES OF THE PAWNBROKERS SINCE THE SECOND READING OF THE BILL LAST AUGUST.
• SHOULD LIKE RECORD OUR APPRECIATION OF THE TIME AND EFFORT SPENT BY THE UNOFFICIAL MEMBERS ON THE PROBLEMS THAT THESE CONSULTATIONS HAVE UNEARTHED AND OF THEIR HELPFUL SUGGESTIONS FOR SOLVING THEM,+ MR JEAFFRESON SAID.
HE SAID THESE SUGGESTIONS WOULD LEAD TO HIS PROPOSING +SIGNIFICANT AMENDMENTS+ TO THE BILL.
+AS FAR AS THE CLIENTS ARE CONCERNED, THOSE WHO PAWN GOODS WITH A VALUE OF LESS THAN THE MAXIMUM LEVEL OF LOAN PERMITTED WILL BE FULLY COVERED IN THE EVENT OF LOSS OR DAMAGE TO THEIR GOODS RESULTING FROM NEGLIGENCE ON THE PART OF A PAWNBROKER.
+QUR INTENTION IS TO INTRODUCE REGULATIONS TO ENSURE THAT CLIENTS ARE ADEQUATELY WARNED OF THE RISKS TAKEN IN PAWNING GOODS OF A VALUE GREATER THAN THE MAXIMUM LOAN LIMIT,+ MR JEAFFRESON SAID.
HE SAID THAT THOSE WHO CHOOSE TO TAKE SUCH RISKS SHOULD EXTEND THEIR OWN INSURANCE COVER FOR THE DURATION OF THE PAWN PERIOD.