32
THURSDAY, OCTOBER 20, 1988
THE IN
SCHEME
HOWEVER, THE DEFINITION OF "OPERATING RECEIPTS" EXCLUDED ANY FORM OF INTEREST, INCLUDING THAT ON DEPOSITS.
THE SHAREHOLDERS THEREFORE ENJOYED BOTH THE DEPOSIT AND THE ACCRUED INTEREST.
PERMITTED RETURN ON
THE BILL PROPOSED TO AMEND SECTION 26 SO THAT THE INTEREST EARNED ON DEPOSITS FOR SELF-INSURANCE WOULD BE REGARDED AS OPERATING RECEIPTS, AND SO REMOVE THE ANOMALY OF A SHAREHOLDERS.
DOUBLE BENEFIT
TO
DEBATE ON THE BILL WAS ADJOURNED.
EXTENSION OF SAFETY PROVISIONS TO PRIVATE ROADS PROPOSED
TODAY
THE SECRETARY FOR TRANSPORT, THE HON MICHAEL LEUNG, (THURSDAY) INTRODUCED INTO THE LEGISLATIVE COUNCIL A BILL WHICH WOULD EXTEND THE SAFETY PROVISIONS OF THE LAW TO PRIVATE ROADS.
IT WOULD ALSO PROVIDE A LEGAL FRAMEWORK FOR OWNERS OF PRIVATE ROADS TO CONTROL PARKING ON THEIR ROADS.
THE SAFETY PROVISIONS IN THE ROAD TRAFFIC (AMENDMENT} (NO.2) BILL 1988 INCLUDED THOSE GOVERNING THE DRIVING CONDUCT AND LICENSING OF MOTORISTS, AND THE INSURANCE, LICENSING, CONSTRUCTION AND MAINTENANCE REQUIREMENTS OF VEHICLES, MR LEUNG SAID.
OTHER RELEVANT ORDINANCES, INCLUDING THE TRAFFIC ACCIDENT VICTIMS (ASSISTANCE FUND) ORDINANCE AND THE MOTOR VEHICLES INSURANCE (THIRD PARTY RISKS) ORDINANCE, WOULD ALSO APPLY TO PRIVATE ROADS, HE ADDED.
MR LEUNG SAID THE ENFORCEMENT OF TRAFFIC REGULATIONS ON PRIVATE ROADS REQUIRED PROPER TRAFFIC SIGNS AND ROAD MARKINGS.
THE BILL EMPOWERED THE COMMISSIONER FOR TRANSPORT TO PRESCRIBE A CODE OF PRACTICE TO GIVE GUIDANCE TO PRIVATE ROAD OWNERS AND TO DECLARE BY NOTICE IN THE GAZETTE CERTAIN SIGNS AND MARKINGS WHICH THEY COULD PLACE ON THEIR ROADS.
FOR OTHER SIGNS AND MARKINGS, THE COMMISSIONER'S PRIOR APPROVAL WAS NECESSARY.
HE
THE COMMISSIONER MIGHT ALSO REQUIRE SUCH OWNERS TO PLACE OR
OR REMOVE CERTAIN SIGNS
MARKINGS. IF THEY FAILED TO COMPLY, MIGHT CARRY OUT THE WORK AND RECOVER THE COSTS FROM THE OWNERS.
/GOLF CARTS