TUESDAY, DECEMBER 1, 1987
5
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NINE QUESTIONS ON LEGCO AGENDA
LEGISLATIVE COUNCIL MEMBERS WILL ASK NINE QUESTIONS AND CONSIDER TWO BILLS IN THEIR MEETING TOMORROW (WEDNESDAY).
THE BILLS ARE THE CORRUPT AND ILLEGAL PRACTICES (AMENDMENT) BILL 1987 AND THE TOWN PLANNING (AMENDMENT) BILL 1987, WHICH WILL BR INTRODUCED FOR FIRST AND SECOND READINGS.
IN ADDITION, THE SECRETARY FOR EDUCATION AND MANPOWER WILL MOVE TWO MOTIONS, ON THE EMPLOYEES' COMPENSATION ORDINANCE AND THE PNEUMOCONIOSIS (COMPENSATION) ORDINANCE, AND THE SECRETARY FOR SECURITY WILL MOVE ONE MOTION, ON THE IMMIGRATION ORDINANCE.
INTEREST ON TAX RESERVE CERTIFICATES REVISED
*
*
A
THE GOVERNMENT GAZETTE PUBLISHED YESTERDAY (MONDAY) CONTAINS LEGAL NOTICE ΤΟ THE EFFECT THAT THE FINANCIAL SECRETARY HAS AUTHORISED A DECREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES. AS FROM TOMORROW (WEDNESDAY),
NEW ANNUAL RATE OF INTEREST WILL BE 3 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 3.24 PER CENT (TAX FREE).
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.25 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETE MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
PAY
INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED TO 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 DECEMBER 2. 1987.
CERTIFICATES WHICH WERE ISSUED BEFORE DECEMBER CONTINUE TO EARN INTEREST AS FOLLOWS
2.
1987 WILL
-
2.76 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JULY 23, 1985 AND BEFORE SEPTEMBER 4,1985;
3.36 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED ON OR SEPTEMBER 4, 1985 AND BEFORE APRIL 3,
AFTER
1986;
/4.32 PER CENT