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(iii)
minimum denomination of $500,000 or its equivalent in a foreign currency; and
(iv)
issued to the public in Hong Kong.
The profits tax concession scheme, which comes into effect today with the gazettal of the Inland Revenue (Amendment) (No 3) Ordinance 1996, was announced by the Financial Secretary in his Budget Speech on March 6.
The objective of the scheme is to promote further development of Hong Kong's debt market by encouraging the issue of long-term debt instruments in Hong Kong
End
Bridging course for students
A six-week bridging course for students who wish to transfer from a grammar to a prevocational school will start in July.
The course is organised for students who have completed Secondary 1 in a grammar school but wish to continue studies in Secondary 2 in a prevocational school this September.
An Education Officer, Mr K L Chan, said the course provides theoretical and practical training in metalwork, electrical studies and technical drawing. The course is free of charge.
Mr Chan said the bridging course was arranged following a recommendation by the Education Commission in its report no. 4 on the needs of students in grammar schools who, after the first year, found themselves losing interest in the more academic approach and wish to learn more practical subjects.
The Commission recommended that a bridging course should include workshop training to help students of grammar schools adjust to the more practical content of the curriculum and gain a minimum level of practical proficiency required in prevocational schools.