XN000022-1980-11-25 — Page 6

NOTE TO EDITORS:

TUESDAY, NOVEMBER 25, 1980

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OPENING OF NEW SCHOOL IN SAI KUNG

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THE GOVERNOR, SIR MURRAY MACLEHOSE, WILL OFFICIATE AT THE OPENING OF THE CHENG CHEK CHEE SECONDARY SCHOOL, SAI KUNG, ON THURSDAY (NOVEMBER 27) AT 2.30 PM. YOU ARE INVITED TO SEND MEMBERS OF YOUR STAFF TO COVER THE CEREMONY. TRANSPORT WILL LEAVE KOWLOON PUBLIC PIER AT 1.15 PM. MR DONALD STRANGE OF THE NEW TERRITORIES ADMINISTRATION PRESS UNIT WILL BE AT THE SCHOOL TO ASSIST MEDIA REPRESENTATIVES.

TAX-FREE INTEREST CEILING RAISED

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INTEREST PAYABLE BY LICENSED BANKS, BY CERTAIN PUBLIC UTILITIES AND BY THE GOVERNMENT AT RATES OF UP TO 10 PER CENT PER ANNUM WILL BE EXEMPT FROM INTEREST TAX FROM TODAY, A GOVERNMENT SPOKESMAN ANNOUNCED.

HE SAID THIS WAS AN INCREASE OF 1-1/2 PER CENT IN THE EXEMPTION LIMIT, AND FOLLOWED THE ANNOUNCEMENT BY THE EXCHANGE BANKS' ASSOCIATION ON SATURDAY THAT THE RATES OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE INCREASED TO 10 PER CENT WITH EFFECT FROM TODAY.

A NOTICE SIGNED BY THE FINANCIAL SECRETARY UNDER SECTION 29(1) OF THE INLAND REVENUE ORDINANCE WAS PUBLISHED IN AN FYTRAORDINARY GAZETTE TODAY.

NEW STANDING COMMISSION MEMBER

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A GOVERNMENT SPOKESMAN TODAY ANNOUNCED THE APPOINTMENT OF MR ANDREW SO KWOK-WING AS AN ADDITIONAL MEMBER OF THE STANDING COMMISSION ON CIVIL SERVICE SALARIES AND CONDITIONS OF SERVICE.

THE APPOINTMENT WILL TAKE EFFECT ON DECEMBER 1, 1980.

MR SO HAS BEEN A MEMBER OF THE LEGISLATIVE COUNCIL SINCE SEPTEMBER 1, 1978. HE HAS CLOSE CONNECTIONS WITH THE CREDIT UNION MOVEMENT AND HAS MANY CONTACTS WITH A WIDE CROSS-SECTION OF THE COMMUNITY.

THE APPOINTMENT OF MR SO BRINGS THE TOTAL MEMBERSHIP OF THE STANDING COMMISSION, CHAIRED BY SIR S.Y. CHUNG, TO 10.

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