FRIDAY, MARCH 2, 1990
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TRAVEL INDUSTRY COUNCIL, TIC RESERVE FUND MADE PUBLIC BODIES
GOVERNOR BY ORDER OF THE
IN COUNCIL, THE TRAVEL INDUSTRY FUND ARE NOW PUBLIC COUNCIL OF HONG KONG (TIC) AND THE TIC RESERVE BODIES FOR THE PURPOSES OF THE PREVENTION OF BRIBERY ORDINANCE.
THE PREVENTION OF BRIBERY THE SPECIFICATION IS CONTAINED IN
GAZETTE ORDINANCE (AMENDMENT OF SCHEDULE) ORDER 1990 PUBLISHED IN THE TODAY (FRIDAY).
AND INDUSTRY, MR TWO AS PUBLIC BODIES, BECOME PUBLIC SERVANTS WOULD BE
THE PRINCIPAL ASSISTANT SECRETARY FOR TRADE
BY SPECIFYING THE PETER CHEUNG, SAID THAT MEMBERS OF THE TWO BOARDS OF DIRECTORS WOULD FOR THE PURPOSES OF THE PREVENTION OF BRIBERY ORDINANCE AND SUBJECT TO PROVISIONS OF THE ORDINANCE.
AND EYES
STANDARDS OF INTEGRITY "THIS WILL HELP TO MAINTAIN HIGH
IN THE HONESTY AND WILL ENHANCE THE STANDING OF THE TWO BODIES
HE SAID. OF INDIVIDUAL TRAVEL AGENTS AND MEMBERS OF THE PUBLIC,
AND MR CHEUNG SAID
TIC WAS GIVEN CONSIDERABLE POWERS
TRAVEL INDUSTRY AUTHORITY TO OVERSEE SELF-REGULATION OF THE OUTBOUND
IN 1988 WHEN THE TRAVEL UNDER THE ARRANGEMENTS INTRODUCED
AGENTS
ORDINANCE WAS AMENDED.
THE
"MEMBERSHIP OF THE
TIC IS A PREREQUISITE FOR TRAVEL AGENT TO OBTAIN A LICENCE TO OPERATE.
"THE TIC RESERVE FUND HAS BEEN ESTABLISHED TO HOLD, ADMINISTER A FUND CONSISTING OF A LEVY ON OUTBOUND TOURS.
AN OUTBOUND
MANAGE AND
FOR
"IT IS USED TO COMPENSATE MEMBERS OF THE TRAVELLING PUBLIC LOSSES SUFFERED BY REASON OF DEFAULT OF ANY LICENSED TRAVEL AGENT.
A ONE PER CENT "AT PRESENT, THE FUND, WHICH IS FINANCED BY LEVY ON ALL OUTBOUND PACKAGE TOURS, STANDS AT $30 MILLION, SAID.
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MR
CHEUNG
"THE TIC IS RESPONSIBLE FOR THE DAILY MANAGEMENT OF THE
FUND,'
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HE SAID.
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