1952-HKRS30-8-42_Part04 — Page 3

LEGISLATIVE COUNCIL RESOLUTION.

DUTIABLE COMMODITIES ORDINANCE. (Chapter 109).

RESOLVED pursuant to section 4 of the Dutiable Com- modities Ordinance (Cap, rog) as follows:-

That the DUTIES ON HYDROCARBON OILS set forth in the Resolution of the Legislative Council published as Government Notification No. 191 of 1941 and reproduced in Volume IX at p. 276 of the Revised Edition, 1950, be revaked with effect from 8 a.m. on 4th December, 1953, and that thereafter duty shall be payable on hydrocarbon oils at the following rates--

(a) light oils :

(b) heavy oils :

(i) diesel oil for road vehicles

(i) other diesel oil

(iii) furnace oil

(iv) other heavy oils not

specified above

80 cents per gallon

$104 per ton

$ 26 per ton

$ 24 per ton

10 cents per gallon.

Eputy Clerk

Councils.

Council ChaMBER,

3rd December, 1952.

Explanatory Nate.

(This note does not form part of the Resolution).

The rates of duty on hydrocarbon olls at present in force am based on gallonage. It is however normal commercial practice to keep all records of purchases, stocka, sales etc. of heavy oils on the basis of tonnage. As the specific gravity of each consignment varies, it is necessary to calculate it in each case in order to determine the duty payable.

2. The purpose of this Resolution is to change the basis of assesa- ment of duty on the main types of heavy oil from gallonage to tonnage. The rates per ton proposed are based on average specific gravities over the year July, 1951 to June, 1952 sad are designed to produce the same

They have been agreed with the principal oli companies.

revenue.

(Secretariat 4/2306/52)