XN000022-1979-05-03 — Page 2

THURSDAY, MAY 3, 1979

TRANSPORT DEPARTMENT COLLECTS FEES FOR

TRAFFIC ACCIDENT VICTIMS ASSISTANCE SCHEME

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MEMBERS OF THE PUBLIC ARE REMINDED THAT THE TRAFFIC ACCIDENT VICTIMS ASSISTANCE SCHEME, AS ANNOUNCED BY THE DIRECTOR OF SOCIAL WELFARE LAST WEEK, CAME INTO OPERATION ON MAY 1.

THE SCHEME, AIMED AT PROVIDING QUICK CASH RELIEF FOR PEOPLE INJURED OR KILLED IN TRAFFIC ACCIDENTS, WILL BE FUNDED BY GOVERNMENT AND FROM FEES COLLECTED FROM MOTOR VEHICLE OWNERS AND HOLDERS OF ALL TYPES OF DRIVING LICENCES.

A TRANSPORT DEPARTMENT SPOKESMAN SAID TODAY (THURSDAY) THAT FROM MAY 1 ALL REGISTERED OWNERS OF VEHICLES HAVE TO PAY AN EXTRA $75 TOWARDS THE TRAFFIC ACCIDENT VICTIMS ASSISTANCE SCHEME ON TOP OF THE VEHICLE REGISTRATION FEE.

FOR EXAMPLE, THE OWNER OF A VEHICLE WHOSE CYLINDER CAPACITY IS BETWEEN 1,000 CC AND 1,500 CC WILL HAVE TO PAY AN ANNUAL LICENCE FEE OF $600 PLUS $75 FOR THE TRAFFIC ACCIDENT VICTIMS ASSISTANCE SCHEME, I.E. A TOTAL OF $675.

FOR DRIVING LICENCE HOLDERS, THOSE RENEWING THEIR LICENCES FOR ONE YEAR WILL HAVE TO PAY AN ADDITIONAL $25 FOR THE SCHEME. IF THEY ARE RENEWING THEIR LICENCES FOR THREE YEARS THEN THEY WILL HAVE TO PAY AN ADDITIONAL $75.

FOR EXAMPLE, A DRIVING LICENCE HOLDER RENEWING HIS LICENCE FOR THREE YEARS WILL HAVE TO PAY $150 FOR A THREE-YEAR RENEWAL PLUS $75 FOR THE SCHEME, 1.E. A TOTAL OF $225.

A PROVISIONAL DRIVING LICENCE HOLDER RENEWING HIS LICENCE FOR ONE YEAR WILL HAVE TO PAY $100 PLUS $25.

INTEREST ON TAX CERTIFICATES INCREASED

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THE ANNUAL RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES WILL BE INCREASED FROM 5.76 PER CENT TO 8.04 PER CENT, TAX FREE, AS FROM TOMORROW (FRIDAY).

THE INCREASE HAS BEEN AUTHORISED BY THE GOVERNOR AND NOTIFICATION WILL BE MADE IN TOMORROW'S GOVERNMENT GAZETTE.

INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE 67 CENTS A MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETED MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.

/INTEREST IS