WEDNESDAY, MAY 2, 1990
ESTATE DUTY (AMENDMENT) BILL 1990 INTRODUCED
* * * * * *
то SEEKS TO THE TAXATION CONCESSIONS PROPOSED INTRODUCED INTO THE LEGISLATIVE COUNCIL
WHICH
GIVE IN THIS TODAY
1990, THE ESTATE DUTY (AMENDMENT) BILL LEGISLATIVE EFFECT YEAR'S BUDGET, WAS (WEDNESDAY).
MOVING THE SECOND READING OF THE BILL, THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, SAID THE BILL INCLUDED EXEMPTION FROM ESTATE DUTY FOR ALL DEATH BENEFITS ARISING FROM APPROVED RETIREMENT SCHEMES,
DUTY
FROM EXEMPTION LIMIT
$2 MILLION AN INCREASED ESTATE
ΤΟ $4 WITH A NEW MILLION AND REPLACEMENT OF THE PRESENT SCHEDULE OF RATES
BETWEEN $4 MILLION AND SCHEDULE SCALED FROM SIX PER CENT ON ESTATE $4.5 MILLION TO 18 PER CENT ON ESTATES OVER $5 MILLION.
"THE COST TO GENERAL REVENUE OF THE IS ESTIMATED TO BE $50 MILLION IN SAID.
IMPLEMENTING THESE PROPOSALS CURRENT FINANCIAL YEAR,
HE
DEBATE ON THE BILL WAS ADJOURNED.
FS MOVES SECOND READING OF
SECURITIES (DISCLOSURE OF INTERESTS) AMENDMENT BILL
AMEND
THE
(DISCLOSURE SECURITIES (DISCLOSURE
OF
INTERESTS)
OF
IN
THE MAIN PURPOSE OF THE SECURITIES
ΤΟ (AMENDMENT) BILL 1990 IS INTERESTS) ORDINANCE IN ORDER TO IMPROVE THE NOTIFICATION PROCEDURES
STOCK EXCHANGE OF HONG KONG LTD AND TO GRANT IMMUNITY TO THE
THE BONA FIDE PERFORMANCE OF ITS RFLATION TO
DUTIES UNDER THE THE FINANCIAL SECRETARY, THE HON ORDINANCE,
SIR PIERS JACOBS,
SAID
TODAY (WEDNESDAY).
OF THE BILL IN
THE LEGISLATIVE TAKEN TO MAKE
MOVING THE SECOND READING COUNCIL, SIR PIERS SAID THE OPPORTUNITY HAD ALSO BEEN TWO MINOR AMENDMENTS TO THE ORDINANCE.
HE POINTED OUT THAT THE ORDINANCE IMPOSED CERTAIN DISCLOSURE
OF IN SHARES
SUBSTANTIAL REQUIREMENTS IN RELATION TO THE INTERESTS
OF DIRECTORS SHAREHOLDERS AND THE INTERESTS IN SHARES AND DEBENTURES AND CHIEF EXECUTIVES OF LISTED COMPANIES INCORPORATED IN HONG KONG.
THE LISTED
"ANY SUCH INTERESTS ARE REQUIRED TO BE NOTIFIED TO COMPANY CONCERNED WITHIN FIVE DAYS OF THE OBLIGATION ARISING.
THE CONCLUSION OF "THE COMPANY, IN TURN, IS GIVEN UNTIL FOLLOWING DAY TO REPORT THE INFORMATION TO THE STOCK EXCHANGE AND SECURITIES AND FUTURES COMMISSION.
THE
THE
/"THE STOCK