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WEDNESDAY, MAY 15, 1985
THE TWO EXCEPTIONS, HE SAID, WERE THE FEE PAYABLE FOR ANY ALTERATION OR AMENDMENT TO A CERTIFICATE BY THE GOVERNOR, AND THE FEE PAYABLE FOR A CHANGE OF NAME OR SEAL, BOTH OF WHICH WERE RAISED FROM $20 TO $100,
THE REGISTRATION OF PATENTS (FEES) (AMENDMENT) RULES 1985, MR HIGGINSON SAID, INCREASED THE FEES PAYABLE FOR VARIOUS PROCEEDINGS UNDER THE REGISTRATION OF PATENTS ORDINANCE.
THE FEES HAD LAST BEEN REVISED IN 1981. THE INCREASES WERE DESIGNED TO TAKE ACCOUNT OF THE COST OF THE SERVICE PROVIDED.
MOTION FOR LAND PREMIUM PAYMENT APPROVED
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THE LEGISLATIVE COUNCIL TODAY APPROVED A MOTION WHICH WOULD ENABLE PREMIUM INCOME FROM LAND TRANSACTIONS TO BE SPECIFIED FOR DIRECT PAYMENT INTO THE CAPITAL WORKS RESERVE FUND.
MOVING THE RESOLUTION UNDER THE PUBLIC FINANCE (AMENDMENT) ORDINANCE 1985, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID THIS WAS NECESSARY TO GIVE EFFECT TO ARRANGEMENTS FOR IMPLEMENTING PARAGRAPH 6 OF ANNEX III TO THE JOINT DECLARATION ON THE FUTURE OF HONG KONG.
HE POINTED OUT THAT THE PUBLIC FINANCE (AMENDMENT) ORDINANCE 1985 CONTAINED PROVISIONS FOR THE COUNCIL TO SPECIFY BY RESOLUTION THAT CERTAIN MONEYS BE CREDITED DIRECTLY TO A FUND WITHOUT THE NEED FOR APPROPRIATION.
+
THE RESOLUTION ALSO PROPOSED THAT THE FUND BE RESTRUCTURED, WITH EFFECT FROM THE DATE THE JOINT DECLARATION ENTERED INTO FORCE, BY THE SETTING UP UNDER IT OF THREE SEPARATE ACCOUNTS, SIR JOHN SAID.
+ALL PREMIUM INCOME FROM LAND TRANSACTIONS WILL IMMEDIATELY UPON RECEIPT GO TEMPORARILY INTO A SUSPENSE ACCOUNT, * HE SAID.
HE EXPLAINED THAT THE AMOUNT OF THE DEDUCTION OF THE AVERAGE COST OF LAND PRODUCTION, TOGETHER WITH THE GOVERNMENT'S SHARE OF PREMIUM INCOME, WOULD GO INTO A WORKS ACCOUNT FROM WHICH PAYMENTS FOR LAND DEVELOPMENT AND PUBLIC PROJECTS WOULD BE MADE.
+ THE FUTURE SAR GOVERNMENT'S SHARE WILL BE PAID INTO THE BANK ACCOUNT OR ACCOUNTS DESIGNATED BY THE CHINESE SIDE,+ HE ADDED.
/THERE WOULD