30
WEDNESDAY, JULY 8, 1992
IS
PRESENTED BASED ON PROPOSALS
"THE PACKAGE
LAST TO TIC DECEMBER, FOLLOWING A REVIEW OF THE REGULATORY SYSTEM FOR THE OUTBOUND TRAVEL INDUSTRY CONDUCTED BY GOVERNMENT IN EARLY 1991," HE ADDED.
WAS
THE REVIEW CONCLUDES THAT THE SELF-REGULATORY SCHEME WHICH INTRODUCED IN 1988 HAS SO FAR WORKED WELL. AND SHOULD THEREFORE CONTINUE.
THERE ARE, HOWEVER, AREAS FOR FURTHER IMPROVEMENTS MORE EFFECTIVE REGULATION OF THE INDUSTRY.
TO PROMOTE
OF
FOR PACKAGE SEEKS TO ENHANCE PROTECTION THE REFORM TRAVELLERS AND TO PROVIDE A SECURE SOURCE OF FINANCE FOR THE OPERATION
THE FOR WHICH TIC
IS THE SELF-REGULATORY ORGANISATION INDUSTRY.
OUTBOUND
TRAVEL
THE SALIENT FEATURES OF THE PACKAGE INCLUDE RE-CONSTITUTING TRAVELLERS, TICRF INTO AN INDEPENDENT COMPENSATION FUND FOR OUTBOUND
THE TRAVEL BE CALLED THE TRAVEL INDUSTRY COMPENSATION FUND UNDER
1 EXISTING
PER CENT LEVY INTO A AGENTS ORDINANCE; SPLITTING THE
A 0.85 PER CENT 0.15 PER CENT LEVY FOR TIC (THE COUNCIL LEVY} AND
FUND LEVY }; AND LEVY FOR TICRF (OR ITS SUCCESSOR) (THE TARGET AMOUNT OF $100 MILLION FOR TICRF (OR ITS SUCCESSOR) LEVEL THE RATE OF THE FUND LEVY WILL BE REDUCED TO 0.35 PER WILL BE THE RATE OF EX-GRATIA COMPENSATION FOR TRAVELLERS FROM 70 PER CENT TO 80 PER CENT OF THE OUTBOUND PACKAGE TOUR
SETTING A AT WHICH CENT AND INCREASED FARES.
ITS BALANCES
IN RETURN FOR THE DEDICATED LEVIES, BOTH TIC AND TICRF (OR SUCCESSOR) WILL HAVE TO BE SUBJECT TO APPROPRIATE CHECKS AND IN THE INTERESTS OF SOUND FINANCIAL MANAGEMENT, MR CHAU SAID.
"THESE WILL BE ENSHRINED IN THE TRAVEL AGENTS (AMENDMENT) TO BE INTRODUCED TO THE LEGISLATIVE COUNCIL EARLY NEXT SESSION.
TRAVEL TAKEN INTO ACCOUNT THE VIEWS OF FURTHER INFORMATION SUPPLIED BY TIC IN REFINING THE PROPOSALS, HE SAID.
"WE HAVE
I
BILL
AGENTS AND ORIGINAL REFORM
ADDRESS THE
"WE CONSIDER THAT THE PRESENT PACKAGE IS ABLE TO CONCERNS OF RELEVANT PARTIES WITHOUT UPSETTING THE BALANCE BETWEEN PROVIDING REASONABLE PROTECTION TO OUTBOUND TRAVELLERS AND SECURING AN INDEPENDENT
RELIABLE SOURCE OF FINANCE FOR TIC TO AND MANAGEMENT OF THE SELF-REGULATORY SCHEME," HE SAID.
CONTINUE
ITS
THE REFORM PACKAGE WILL FURTHER CONSOLIDATE THE EXISTING WITH INDUSTRY, TIER SYSTEM OF REGULATION FOR THE TRAVEL
MEMBERS UNDERTAKING THE DAY-TO-DAY FRONT-LINE REGULATION OF ITS THE REGISTRAR OF TRAVEL AGENTS KEEPING A REGULATORY OVERVIEW SELF-REGULATOR AND THE LICENSED TRAVEL AGENTS.
TWO-
TIC
AND
OF
THE
THE TRAVEL
AGENTS (AMENDMENT) BILL 1992 WILL BE
GAZETTED
ON
JULY 17.
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