CO129-233 - Acting Governor Cameron - 1887 [6-8] — Page 532

registered in the Colony conto

It would be a

5 only

10 cento

a very popular measure

in the Colony, but I Know of no precedent for such exceptional Regiolation and as far as I can learn no such enactments Colony; it is probable

exist in

any

other

that in other Colonies all Companies local

On

not

are on-

hong hong

the same

522

Hongkong and the Foreign Companies

all laxation because their business excape

is carried on

by Agents.

Even if this extra stamp duty is

charged on Policies delivered by

worr

n Local

very doubtful who then will bear the charged,

Companies it is the Company

should say the probabilities are that

footing, whilst in of the nature of

of

they

on account of the

taxation the non Local Companies are

placed in a more

than the local

ones.

favorvrable position

-registered under

Companies which are r

the Hongkong

to pay

Ordinance have a heavy fee to the Registrar of Compresies. Thus the Houghing Fire Insuran Company paid $30% and the China Fire Insurance Company $307 beesiden the Municipal rates which they pay or their places of businees and their ___ Contribution to the voluntier Fire Brigade. No license fee or any fee to corry

business is Hongking payable by any Company in

I

would add this account to the premium and make the assured

pay (Signed) Edur.

J. Ackroyd,

Acting Attorney General

25th August, 1887.

registered in the Colony cannot

It would be a

5 only

10 percent

a very popular measure

in the Colony, but I know of no precedent for such exceptional legislation and as far as I can learn no such enactments exist in any other Colony; it is probable

that in other Colonies all Companies, local and non-local, are on the same footing, whilst in Hongkong and the Foreign Companies are on a different footing because their business is carried on by Agents.

Even if this extra stamp duty is charged on Policies delivered by Local Companies it is very doubtful who then will bear the charge; the probabilities are that the Company will bear it.

On account of the taxation the non-Local Companies are placed in a more favourable position than the local ones.

Companies which are registered under the Hongkong Ordinance have a heavy fee to pay to the Registrar of Companies. Thus the Hongkong Fire Insurance Company paid $307 and the China Fire Insurance Company $307 besides the Municipal rates which they pay for their places of business and their contribution to the volunteer Fire Brigade. No license fee or any fee to carry on business in Hongkong is payable by any Company.

I would add this account to the premium and make the assured pay.

(Signed) Edur. J. Ackroyd,

Acting Attorney General

25th August, 1887.

registered in the Colony cannot

It would be a

10 percent

a very popular measure

in the Colony, but I know of no precedent for such exceptional legislation and as far as I can learn no such enactments exist in any other Colony; it is probable that in other Colonies all Companies, local and non-local, are on the same footing, whilst in Hongkong and the Foreign Companies are on a different footing because their business is carried on by Agents.

Even if this extra stamp duty is charged on Policies delivered by Local Companies it is very doubtful who then will bear the charge; the probabilities are that the Company will bear it. On account of the taxation the non-Local Companies are placed in a more favourable position than the local ones.

Companies which are registered under the Hongkong Ordinance have a heavy fee to pay to the Registrar of Companies. Thus the Hongkong Fire Insurance Company paid $307 and the China Fire Insurance Company $307 besides the Municipal rates which they pay for their places of business and their contribution to the volunteer Fire Brigade. No license fee or any fee to carry on business in Hongkong is payable by any Company.

I would add this account to the premium and make the assured pay. (Signed) Edur. J. Ackroyd, Acting Attorney General

25th August, 1887.