WEDNESDAY, O 14; 1981
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SEEKING APPROVAL OF THE AMENDMENT REGULATIONS, THE COMMISSIONER FOR LABOUR, THE HON J.N. HENDERSON, RECALLED THAT IN APRIL THE COUNCIL HAD APPROVED THE FIRST BATCH OF FIVE SETS OF AMENDMENT REGULATIONS MADE UNDER THE FACTORIES AND INDUSTRIAL UNDERTAKINGS ORDINANCE TO RAISE THE MAXIMUM PENALTIES IN THOSE REGULATIONS, RANGING FROM $5 000 TO $50 000.
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IN GRADING LEVELS OF MAXIMUM PENALTIES IN THE 14 REGULATIONS, HE POINTED OUT, HE HAD FOLLOWED THE SAME PRINCIPLE USED IN THE PREVIOUS FIVE REGULATIONS AND THAT IS THAT ONLY THE MOST SERIOUS OFFENCES WILL ATTRACT THE MAXIMUM OF $50 000.
THE OFFENCES ARE FAILURE TO CONSTRUCT AND MAINTAIN SAFELY EVERY BULKHEAD, AIR LOCK, OR OTHER STRUCTURE IN COMPRESSED AIR WORK- FAILURE TO PROVIDE PROPER CONSTRUCTION, MAINTENANCE AND EXAMINATION OF GOODS LIFT AND FAILURE TO FENCE A QUARRY OR TO PROVIDE PROPER SUPERVISION FOR QUARRY OPERATION.
FOR SERIOUS OFFENCES, SUCH AS FAILURE TO GUARD A WOODWORK ING MACHINE OR AN ABRASIVE WHEEL, THE MAXIMUM FINE WOULD BE $30 000, WHILE THOSE FOR OTHER LESS SERIOUS OFFENCES WOULD RANGE FROM $10 000 TO $20 000.
BILL TO RAISE INTEREST TAX EXEMPTION
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THE INLAND REVENUE (AMENDMENT)(NO. 5) BILL 1981 WAS INTRODUCED IN THE LEGISLATIVE COUNCIL TODAY BY THE FINANCIAL SECRETARY, THE HON JOHN BREMRIDGE.
THE BILL SEEKS TO RAISE FROM 11 PER CENT TO 13.5 PER CENT THE CEILING ON THE FINANCIAL SECRETARY'S AUTHORITY TO SPECIFY THE RATE OF EXEMPTION FROM TAX OF INTEREST PAYABLE BY THE GOVERNMENT, LICENSED BANKS AND CERTAIN SPECIFIED PUBLIC UTILITIES.
THE INLAND REVENUE (AMENDMENT)(NO. 4) BILL, INTRODUCED EARLIER AND WHICH WOULD HAVE RAISED THE CEILING FROM 11 PER CENT TO 12 PER CENT, WAS WITHDRAWN AS IT WAS SUPERSEDED BY THE NEW BILL.
THE NO. 5 BILL WAS BROUGHT INTO FORCE ON OCTOBER 7 BY MEANS OF A REVENUE PROTECTION ORDER, FOLLOWING AN INCREASE IN THE HONG KONG ASSOCIATION OF BANKS' RATE OF INTEREST ON SAVINGS ACCOUNT WHICH BROUGHT THE RATE TO 13.5 PER CENT, COMPARED WITH 11 PER CENT LAST DECEMBER.
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