XN000022-1980-07-29 — Page 3

2

TUESDAY, JULY 29, 1980

10.5

PER CENT

9

PER CENT

7.2

PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER APRIL 11, 1980 AND BEFORE MAY 30, 1980-

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MAY 30, 1980 AND BEFORE JUNE 27, 1980- AND

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JUNE 27, 1980 AND BEFORE JULY 30, 1980.

BUT ALWAYS SUBJECT TO THE GENERAL RULE THAT INTEREST CEASES TO ACCRUE AFTER 36 COMPLETED MONTHS WITHOUT SURRENDER FOR PAYMENT OF TAX.

EXAMPLE, $1 000 CERTIFICATES PURCHASED ON AUGUST 1, 1980,

SEPTEMBER 1, 1980 AND OCTOBER 1, 1980 RESPECTIVELY, SURRENDERED IN PAYMENT OF TAX DUE ON NOVEMBER 1, 1980, WILL HAVE INTEREST CALCULATED AS FOLLOWS:

ON $1 000, AUGUST 1, 1980 TO NOVEMBER 1, 1980, THREE COMPLETE MONTHS AT $5.20 PER MONTH

ON $1 000, SEPTEMBER 1, 1980 TO NOVEMBER 1,

1980, TWO COMPLETE MONTHS AT $5.20 PER MONTH

ON $1 000, OCTOBER 1, 1980 TO NOVEMBER 1, 1980,

ONE COMPLETE MONTH AT $5.20 PER MONTH

INTEREST ACCRUED

$15.60

$10.40

$ 5.20

$31.20

THE INTEREST ACCRUED IS ROUNDED TO $32 IN ACCORDANCE WITH RULE 7(3) OF THE TAX RESERVE CERTIFICATES (FOURTH SERIES) RULES.

FUNCTIONS OF NEW TOWN MANAGEMENT COMMITTEES OUTLINED

****

THE FUNCTIONS OF MANAGEMENT COMMITTEES SET UP IN 1973 TO PLAN THE NEW TOWNS IN FINE DETAIL WERE OUTLINED TODAY (TUESDAY) BY DEPUTY SECRETARY FOR THE NEW TERRITORIES, MR AUGUSTINE CHUI KAM.

SPEAKING AT THE ROTARY CLUB OF HONG KONG NORTH WEST, MR CHUI SAID A NEW TOWN MANAGEMENT COMMITTEE ADVISED THE SECRETARY FOR THE NEW TERRITORIES ON RUNNING THE NEW TOWN'S COMMUNITY FACILITIES AND SERVICES, AND ASSISTED WITH THE PROMOTION OF RECREATIONAL AND CULTURAL ACTIVITIES.

HE SAID THESE HAD DIRECT IMPACT ON RESIDENTS IN THE NEW TOWNS, WHERE VARIOUS PROBLEMS WERE BOUND TO EMERGE DURING THE DEVELOPMENT PROCESS.

THE CHAIRMAN