RE-CONSTITUTION OF TICRF
N
-
TUESDAY, DECEMBER 10, 1991
T
IS TO GIVE
TICRF,
A MAJOR ORGANISATIONAL CHANGE RECOMMENDED PRESENTLY A SUBSIDIARY COMPANY OF TIC, A SEPARATE IDENTITY.
"THE PROPOSAL IS TO RE-CONSTITUTE TICRF INTO A
THE SPOKESMAN SAID. TO BE MANAGED BY A BOARD OF TRUSTEES,
STATUTORY
FUND
FINANCIAL AUTONOMY FOR TIC
IN PARALLEL WITH
THE
TIC,
ACTA
FROM
OF TICRF SEGREGATION
FROM LONGER RELY UPON DISBURSEMENT
RECOMMENDED THAT TIC SHOULD NO TICRF FOR ITS DAY-TO-DAY OPERATIONS.
PERCENTAGE OF THE
INSTEAD, TIC SHOULD BE GIVEN A FIXED INCOME AND MANAGE ITS OWN FINANCES. THE PERCENTAGE WOULD BE BY THE FINANCIAL SECRETARY FROM TIME TO TIME.
LEVY SPECIFIED
FUNDED BY THE "THE POLICY INTENTION IS FOR TIC TO BE LARGELY
BUT ALSO PARTLY LEVY IN RECOGNITION OF ITS SELF-REGULATORY EFFORTS,
FROM WITHIN TIC AS BY MEMBERSHIP FEES AND OTHER SOURCES OF REVENUE
ITS OWN ONE OF TIC'S OTHER OBJECTIVES IS TO PROMOTE THE INTERESTS OF MEMBERS," THE SPOKESMAN SAID,
"IN PROPOSING FINANCIAL AUTONOMY
NEED
FOR
APPROPRIATE
MINDFUL OF THE INTERESTS OF SOUND FINANCIAL MANAGEMENT,
FOR THE TIC, WE ARE ALSO CHECKS
IN AND BALANCES
THE
HE ADDED.
||
REDUCTION OF LEVY AND INCREASE IN COMPENSATION
PER THE RESERVE FUND NEED TO RESORT TO IT IN THE RESERVE FUND REACHES A
ACTA HAS NOT RECOMMENDED AN IMMEDIATE REDUCTION OF THE ONE CENT LEVY. HOWEVER, IN VIEW OF THE CURRENT SIZE OF ($75 MILLION) AND THE INFREQUENCY OF THE RECENT TIMES, ACTA CONSIDERS THAT ONCE TARGET AMOUNT, THE LEVY SHOULD BE REDUCED.
THERE SHOULD THEN BE A SIMULTANEOUS INCREASE COMPENSATION AVAILABLE TO TRAVELLERS.
IN THE RATE OF
ACTA GAVE COPE WITH
IN SUGGESTING A TARGET AMOUNT FOR THE RESERVE FUND, CAREFUL CONSIDERATION TO THE NEED FOR ADEQUATE RESERVES TO MAJOR DEFAULTS IN THE PEAK SEASON OF OUTBOUND TRAVEL INDUSTRY.
"WE CONSIDER ACTA'S RECOMMENDATIONS AS BALANCED AND CAPABLE THE TRAVELLERS. ADDRESSING THE CONCERNS OF BOTH THE INDUSTRY AND
TIC AND TICRF," SHALL SHORTLY DISCUSS THE RECOMMENDATIONS WITH GOVERNMENT SPOKESMAN SAID.
OF
WE
THE
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