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RHKJC's proposal will allow overseas punters to bet directly into the Hong Kong pools and enable the Hong Kong Government to share the betting duty with respective host governments, subject to RHKJC's negotiations with them.
The Government will levy duty in respect of overseas bets at half of the local rates, that is 5.75 per cent for Win, Place, Double, Quinella, Forecast and Quinella Place bets and 8.75 per cent for any other bets.
Government revenue from betting duty on overseas bets from North America is estimated at over $100 million per season,
Meanwhile, opportunity is taken to transfer the regulation making power conferred under Section 7 of the Betting Duty Ordinance from the Governor-in- Council to the Secretary for the Treasury.
This power relates to minor decisions concerning mainly the making of regulations to govern the manner for collection of betting duty which is rarely exercised.
The amendments to the Ordinance as set out in the Betting Duty (Amendment) Bill 1995 will be gazetted on Friday (November 17).
End/Tuesday, November 14, 1995
Efforts to further protect intellectual property rights
The Government is considering ways and means of stepping up public awareness in Hong Kong of the importance of intellectual property rights and their protection.
Addressing the Asian Patent Attorneys Association's 38th Council Meeting this (Tuesday) morning, the Secretary for Trade and Industry, Mr T H Chau, said: "Although we consider that our standards and level of protection are high, we are looking at ways of improving these in line with international trends and to meet the specific needs of Hong Kong.