XN000022-1980-04-11 — Page 3

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FRIDAY, APRIL 11, 1980

WITH LIMITED CAPACITY FOR DEALING WITH VEHICLES AND PASSENGERS AT THE BORDER IT WOULD BE NECESSARY TO STRIKE THE CORRECT BALANCE BETWEEN GOODS VEHICLES AND BUSES.

THE HONG KONG DELEGATION INVITED THE IR HOSTS IN GUANGZHOU TO PAY A RETURN VISIT TO HONG KONG FOR FURTHER DISCUSSIONS ON MATTERS OF MUTUAL INTEREST.

MR ARMSTRONG-WRIGHT SAID: +PART OF THE HONG KONG DELEGATION RETURNED FROM GUANGZHOU BY ROAD TO OBTAIN FIRST HAND KNOWLEDGE OF THE ROUTE BETWEEN GUANGZHOU AND HONG KONG.+

HIGHER INTEREST RATE FOR TAX RESERVE CERTIFICATES

*****

THE ANNUAL INTEREST RATE PAYABLE ON TAX RESERVE CERTIFICATES HAS BEEN INCREASED FROM 8.4 PER CENT TO 10.5 PER CENT, TAX FREE.

THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED FROM

TODAY (FRIDAY).

THE INCREASE WAS AUTHORISED BY THE FINANCIAL SECRETARY AND NOTICE TO THIS EFFECT WAS PUBLISHED IN THE GOVERNMENT GAZETTE TODAY.

INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE 87.5 CENTS A MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE FOR COMPLETED MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.

INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED TO PAY TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A CERTIFICATE IS REPAID IN CASH.

CERTIFICATES ISSUED BEFORE TODAY WILL CONTINUE TO EARN INTEREST AT THE FOLLOWING RATES:

ISSUE DATE

OCTOBER 26, 1979

-

APRIL 10, 1980

MAY 4, 1979

-

OCTOBER 25, 1979

INTEREST RATE

8.4%

8.04%

FEBRUARY 16, 1979 MAY 3, 1979

5.76%

NOVEMBER 24, 1978

-

FEBRUARY 15, 1979

5.04%

SEPTEMBER 22, 1978

NOVEMBER 23, 1978

3.24%

FEBRUARY 17, 1977 - SEPTEMBER 21, 1978

SEPTEMBER 19, 1975 - FEBRUARY 16, 1977

3%

4.2%

HOWEVER INTEREST