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TUESDAY, APRIL 11, 1989
SINCE THE FIRST BMCT WAS ESTABLISHED IN 1985, A TOTAL OF 280 BUILDINGS HAD BEEN GIVEN A SUBSTANTIAL DEGREE OF ASSISTANCE.
AT THE SAME TIME, THE BMCT'S ALSO ACTIVELY PROMOTED KNOWLEDGE OF BUILDING MANAGEMENT.
WITH THE ASSISTANCE OF THE BMCT'S, FIVE MAJOR EXHIBITIONS AND MORE THAN 30 SEMINARS ON BUILDING MANAGEMENT HAD BEEN HELD IN VARIOUS DISTRICTS.
NOTING THAT BUILDING MANAGEMENT WAS A COMPLEX SUBJECT, MR LIAO SAID THE GOVERNMENT LAST YEAR ESTABLISHED
AN ADVISORY COMMITTEE ON PRIVATE BUILDING MANAGEMENT, WHICH WAS RESPONSIBLE FOR REVIEWING THE EFFECTIVENESS OF EXISTING BUILDING MANAGEMENT POLICIES, AND ADVISING THE GOVERNMENT ON BUILDING MANAGEMENT MATTERS.
"TODAY'S EXHIBITION TIES IN WELL WITH THE WORK OF THE GOVERNMENT IN ENHANCING THE AWARENESS OF MANAGEMENT OF PRIVATE BUILDINGS AMONG THE PUBLIC, HE CONCLUDED.
STUDY COMPLETED ON STATUTORY INTEREST ON OVERDUE Debts
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THE
A SUB-COMMITTEE OF THE LAW REFORM COMMISSION SET UP TO STUDY EXISTING LAW ON STATUTORY INTEREST ON OVERDUE DEBTS, HAS CONCLUDED THAT IT IS UNJUST THAT CREDITORS SHOULD HAVE TO BEAR THE FINANCIAL BURDEN CAUSED BY LATE PAYING DEBTORS.
IT HAS PROPOSED THAT, UNLESS THERE HAS BEEN A PRIOR AGREEMENT TO THE CONTRARY, THE CREDITOR WHO IS NOT PAID ON TIME SHOULD BE ENTITLED, BY LAW, TO INTEREST ON THE MONEY HE IS OWED UNTIL HE 18 PAID.
THE SUB-COMMITTEE WISHES TO CONSULT THE COMMUNITY ON WHETHER DEBTORS SHOULD BE CHARGED SIMPLE OR COMPOUND INTEREST.
A CONSULTATION LETTER OUTLINING THE PROS AND CONS BETWEEN SIMPLE AND COMPOUND INTEREST, AND INCLUDING CALCULATION EXAMPLES, HAS BEEN SENT TO ABOUT 300 TRADE AND INDUSTRIAL ORGANISATIONS, DISTRICT BOARDS AND ABOUT 850 BUSINESSES. THE SUB-COMMITTEE WOULD WELCOME COMMENTS BY MAY 31, 1989,
MEMBERS OF THE PUBLIC WHO
WISH TO OBTAIN A COPY OF THE
CONSULTATION LETTER AND/OR TO EXPRESS THEIR VIEWS ON THE SUBJECT ARE INVITED TO TELEPHONE OR WRITE TO:
THE SECRETARY
SUB-COMMITTEE ON INTEREST ON DEBT AND DAMAGES
LAW REFORM COMMISSION
1/F HIGH BLOCK
QUEENSWAY GOVERNMENT OFFICES
66 QUEENSWAY
HONG KONG
(TEL: 5-8672018)
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