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TUESDAY, JUNE 2, 1987
THE FIRST THREE GMB STOPS TO BECOME OPERATIONAL ARE IN TSE WAN SHAN ROAD FOR ROUTES 18, 19 AND 37M; SOARES AVENUE FOR ROUTES 5M, 27M AND 28M AND IN TAI SHING STREET FOR ROUTE 52. THE OTHER GMB STOPS WILL COME INTO OPERATION SHORTLY.
AT PRESENT, THERE ARE ABOUT 1 180 GMB'S OPERATING 170 APPROVED ROUTES WITH A DAILY PATRONAGE OF ABOUT 546 000. THERE ARE ABOUT 700 APPROVED GMB STOPPING PLACES IN RESTRICTED ZONES. OF THESE, ABOUT 200 EACH ARE ON HONG KONG ISLAND AND IN KOWLOON WHILE THE OTHER 300 ARE IN THE NEW TERRITORIES.
+THE SCHEME, WHICH ALSO GAINS SUPPORT FROM THE GMB TRADE, WILL BE REVIEWED IN THREE MONTHS AFTER ALL THE 30 DESIGNATED GMB STOPS HAVE COME INTO OPERATION. THE SCHEME WILL BE EXTENDED IF PROVED TO BE SUCCESSFUL, THE SPOKESMAN ADDED.
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INTEREST ON TAX RESERVE CERTIFICATES
*****
THE FINANCIAL SECRETARY HAS AUTHORISED AN INCREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES.
AS FROM JUNE 4, 1987, THE NEW ANNUAL RATE OF INTEREST WILL BE 3.84 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 3.36 PER CENT (TAX FREE), ACCORDING TO A LEGAL NOTICE IN THE GOVERNMENT GAZETTE PUBLISHED TODAY (TUESDAY).
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.32 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETE MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED TO PAY TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A CERTIFICATE IS REPAID BY A CHEQUE.
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR AFTER JUNE 4, 1987.
/CERTIFICATES WHICH