"MANAGE,
13 WEDNESDAY, OCTOBER 23, 1991
HE EXPLAINED THAT THE TERM "OPERATE" WAS DEFINED TO INCLUDE FORM, CONDUCT, ORGANISE, ADVERTISE AND AID, ASSIST OR TAKE TART IN OPERATING" AND THAT AN OFFENDER WAS LIABLE TO A FINE AND
IMPRISONMENT.
"ENFORCEMENT OF THE LEGISLATION IS THE RESPONSIBILITY OF POLICE," MR NENDICK SAID.
THE
THE NUMBER OF FRAUDULENT CHIT-FUNDS CASES REPORTED FROM 1987 TO 1990 WERE 10, 15, FIVE AND SIX RESPECTIVELY AND THERE WERE NINE CASES REPORTED UP TO SEPTEMBER THIS YEAR.
STATISTICS OF PENALTIES IMPOSED ON OFFENDERS FOR THE PAST THREE YEARS ARE AS FOLLOWS:
NO.
OF CASES
ACQUITTED
CONVICTED
SENTENCE
SENTENCING OF PERSONS CHARGED WITH OPERATING A
CHIT-FUND BUSINESS 1989-1991
BOUND OVER/
CONDITIONAL
DISCHARGE
IMMEDIATE
IMPRISONMENT
FINE (HK$ }
500
501-1,000
1,001-2,000
ABOVE 2,000
1989
1990
1991 (UP TO MARCH)
2
2
1
8
2
1
(2 MTHS)
2
2
2
1
2
1
1
1
NOTE: PERSONS CHARGED IN A PARTICULAR YEAR MIGHT BE ARRESTED IN
PREVIOUS YEARS.
"ALTHOUGH THE FIGURES DO NOT INDICATE THAT THERE IS A SIGNIFICANT PROBLEM WITH CHIT-FUND ASSOCIATIONS, WE WILL CONTINUE ΤΟ MONITOR THE SITUATION CLOSELY AND REVIEW THE LEGISLATION AND POLICY ON CILIT-FUNDS IF THE SITUATION SO REQUIRES," THE SECRETARY ADDED.
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