CO129-542-7 Betting Duty Amendment Ordinance- 1933 1-9-1933 - 20-9-1933 — Page 3

No. 485.

N

z jorny

GOVERNMENT HOUSE,

HONG KONG.

20th September, 1933.

13

2 on

2.

Sir,

With reference to your despatch No.61 of the

62746/37 26th February, 1932, I have the honour to submit for the

Encl. No.1.

Encl. No.2.

signification of His Majesty's pleasure the following

Ordinance intituled :-

An Ordinance to amend the Betting Duty

Ordinance, 1931.

2.

The enclosed report by the Attorney General

explains the objects and reasons of the Ordinance.

It will be seen that the long title of the principal

Ordinance has been amended in accordance with the

suggestion of paragraph 2 of your despatch, but that it

is not considered desirable to define such expressions as

"totalisator" "pari mutuel" and "cash sweep".

3.

The reduction, from three per cent to two and

a half per cent, of the duty on totalisator or pari mutuel bets, affects only the two racing clubs established in the

Colony. The takings of these clubs have been materially

reduced, owing, no doubt, to the business depression, and

it has been represented to me that the accounts of the

Hong Kong Jockey Club are likely to show a deficit during

the coming year. In the circumstances there appeared to

be justification for the view that the former rate, which

was in any case experimental, was unduly high.

4.

The Club has not found it possible to pass

on to the public more than approximately fifty per cent

THE RIGHT HONOURABLE

SIR P. CUNLIFFE-LISTER, G.B.E., M.C., M.P.,

&c.,

&c.,

&C.

of