- 11.
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"To rectify this anomaly, it is proposed that the Insurance Companies Ordinance be amended to recognise that a parent has an insurable interest in the life of his/her child."
The Committee has also discussed the revised Authorisation Guidelines of Insurance Companies as well as the Guidance Note for the Insurance Companies (General Business) (Valuation) Regulation.
The Insurance Authority will proceed to consult the industry and the professional bodies concerned before finalising them for issue to the public.
End
Taxi fare receipts format confirmed
The implementation of the proposal to require taxi drivers to issue taxi fare receipts on demand is moving a step forward with the confirmation on the receipt's format and printing time.
Transport Department is taking action to amend the Road Traffic (Construction and Maintenance of Vehicles) Regulation and Road Traffic (Public Service Vehicles) Regulation to include such requirement.
A spokesman for the department said the legislative amendments would, hopefully, be completed within 1996-97.
"It is hope that the requirement can come into effect one year after the enactment of the legislation," the spokesman said.
The Transport Advisory Committee (TAC) members were informed at their meeting today (Tuesday) of the progress in the implementation of this requirement which was recommended in the 1994 Taxi Policy Review.
A series of consultation and a product demonstration were conducted earlier this year to solicit the views of taxi operators and drivers concerning the requirement for taxi drivers to issue a fare receipt on demand.
The receipt requirement was well received by operators, drivers, and members of the public.