WEDNESDAY, APRIL 16, 1986
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ANNUAL LICENSING FEES FOR BANKS INCREASED *****
A BILL WHICH PROVIDES FOR INCREASES IN THE ANNUAL LICENSING OF BANKS, BRANCHES AND LOCAL AND OVERSEAS OFFICES DESCRIBED IN THE 1986 BUDGET SPEECH, WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE BANKING (AMENDMENT) BILL 1986, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID THE INCREASES HAD COME INTO EFFECT ON APRIL 1 AS A RESULT OF AN ORDER SIGNED BY THE GOVERNOR UNDER THE PUBLIC REVENUE PROTECTION ORDINANCE.
+ THE ADDITIONAL REVENUE YIELD FROM THE INCREASED FEES FOR 1986-87 IS ESTIMATED TO BE $12.5 MILLION, SIR JOHN SAID.
DEBATE ON THE BILL WAS ADJOURNED.
FEE REVISION FOR DEPOSIT-TAKING COMPANY LICENCES
*****
A BILL WHICH PROVIDES FOR INCREASES IN THE ANNUAL LICENSING AND REGISTRATION OF DEPOSIT-TAKING COMPANIES, THEIR BRANCHES AND OVERSEAS OFFICES - WHICH HAD BEEN DESCRIBED IN THE 1986 BUDGET SPEECH - WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE DEPOSIT-TAKING COMPANIES (AMENDMENT) BILL 1986, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID THE REVISED RATES HAD COME INTO EFFECT ON APRIL 1 AS A RESULT OF AN ORDER SIGNED BY THE GOVERNOR UNDER THE PUBLIC REVENUE PROTECTION ORDINANCE.
+ THE ADDITIONAL REVENUE YIELD FROM THE INCREASED FEES FOR 1986-87 IS ESTIMATED TO BE $2.5 MILLION, HE SAID.
DEBATE ON THE BILL WAS ADJOURNED.
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