XN000022-1977-09-19 — Page 2

MONDAY, SEPTEMBER 19, 1977

CONVERSION OF PUBLIC CARS INTO TAXIS TO BEGIN FROM

NOVEMBER ****

THE TRANSPORT DEPARTMENT ANNOUNCED TODAY THAT IT WILL START CONVERTING PUBLIC (HIRE) CARS INTO URBAN TAXIS OR PRIVATE CARS WITH A HIRE CAR PERMIT AS FROM NOVEMBER 1, 1977 WHEN NO PUBLIC CAR LICENCES WILL BE FURTHER RENEWED.

THE CONVERSION WILL BEGIN WITH THOSE PUBLIC CARS WITH LICENCES EXPIRING IN NOVEMBER.

UNDER THE CONVERSION SCHEME ABOUT 200 VEHICLES WILL BE CONVERTED EACH MONTH AND THE PRIORITY FOR CONVERSION WILL BE BASED ON THE EXPIRY DATES OF THE CURRENT PUBLIC CAR LICENCES. IT IS EXPECTED THAT MOST OF THE CONVERSIONS WILL BE COMPLETED IN SIX TO SEVEN MONTHS.

A TRANSPORT DEPARTMENT SPOKESMAN SAID THAT THERE WERE 1,329 REGISTERED PUBLIC CARS AT PRESENT, AND PROVIDED THAT THEIR OWNERS PAID A PREMIUM OF $75,000 FOR THE RE-REGISTRATION OF EACH VEHICLE AFTER COMPLETING THE NECESSARY FORMALITIES, THESE WOULD BE CONVERTED INTO URBAN TAXIS.

THE PREMIUM COULD EITHER BE PAID IN ONE LUMP SUM AT THE TIME OF CONVERSION OR IN TWO INSTALMENTS - $50,000 DOWN PAYMENT AT THE TIME OF CONVERSION AND THE BALANCE OF $25,000 IN 12 MONTHS AT THE FIRST ANNUAL RENEWAL OF THE VEHICLE LICENCE. IF THE BALANCE WAS NOT PAID, THE TAXI LICENCE WOULD NOT BE RENEWED.

THE SPOKESMAN EXPLAINED THAT BECAUSE THE RELEVANT NEW LEGISLATION WOULD NOT COME INTO OPERATION UNTIL NOVEMBER 1, IT WOULD BE NECESSARY TO CONTINUE TO RENEW THOSE PUBLIC CAR LICENCES WHICH EXPIRE AT THE END OF OCTOBER.

THE CONVERSION SCHEME INCLUDES THE FOLLOWING FEATURES:

* ONCE AN OPTION IS EXERCISED FOR CONVERSION OF A VEHICLE INTO EITHER AN URBAN TAXI OR PRIVATE CAR WITH A HIRE CAR PERMIT, THE OPTION WILL BE IRREVOCABLE.

*

ALL PUBLIC CARS WILL BE SUBJECT TO A RECLASSIFICATION INSPECTION CONDUCTED BY THE TRANSPORT DEPARTMENT PRIOR

TO THE CONVERSION.

/ IF A PUBLIC