XN000022-1981-11-30 — Page 5

MONDAY, NOVEMBER 30, 1981

TAX EXEMPTION ON INTEREST EARNED

***

INTEREST PAYABLE BY LICENSED BANKS, BY CERTAIN PUBLIC UTILITIES AND BY THE GOVERNMENT AT RATES OF UP TO 11 PER CENT PER ANNUM WILL BE EXEMPT FROM INTEREST TAX FROM TODAY (MONDAY), A GOVERNMENT SPOKESMAN ANNOUNCED.

HE SAID THIS REPRESENTS A REDUCTION OF ONE PER CENT IN THE EXEMPTION LIMIT, AND FOLLOWS THE ANNOUNCEMENT BY THE HONG KONG ASSOCIATION OF BANKS ON FRIDAY THAT THE RATES OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE REDUCED TO 11 PER CENT WITH EFFECT FROM TODAY.

A NOTICE SIGNED BY THE FINANCIAL SECRETARY UNDER SECTION 28(1) OF THE INLAND REVENUE ORDINANCE IS PUBLISHED IN AN EXTRAORDINARY GAZETTE TODAY.

PLAYGROUND AND OPEN SPACES FOR TUEN MUN

******

TENDERS ARE BEING INVITED BY THE ARCHITECTURAL OFFICE FOR THE CONSTRUCTION OF A PLAYGROUND IN HA TSUEN AND FIVE LOCAL OPEN SPACES

IN TUEN MUN NEW TOWN.

THE HA TSUEN PLAYGROUND WILL PROVIDE RECREATIONAL FACILITIES, INCLUDING A MINI-SOCCER PITCH, A BASKETBALL-CUM-VOLLEYBALL COURT AND A CHILDREN'S PLAYGROUND, FOR RESIDENTS OF HA TSUEN, HUNG SHUI KIU, TAN KWAI TSUEN AND PING SHAN.

IT WILL ALSO HAVE A SIMPLE SERVICE BUILDING WITH TOILETS AND CHANGING ROOMS.

WORK ON THE PLAYGROUND WILL START IN FEBRUARY AND BE COMPLETED IN AUGUST NEXT YEAR.

THE FIVE LOCAL OPEN SPACES TO BE DEVELOPED IN THE VICINITY OF CHI LOK FA YUEN HOME OWNERSHIP SCHEME WILL PROVIDE FACILITIES TO MEET THE NEED FOR RECREATIONAL ACTIVITIES.

INCLUDED IN THESE LOCAL OPEN SPACES WILL BE SITTING-OUT AREAS WITH ARBOURS, A MINI-SOCCER PITCH, A BASKETBALL AND VOLLEYBALL COURT, A CHILDREN'S PLAYGROUND WITH PLAY EQUIPMENT, A PAVILION AND A TOILET.

FLOODLIGHTING WILL ALSO BE PROVIDED FOR NIGHT EVENTS AT

THE SOCCER PITCH AND BASKETBALL COURT.

WORK ON THIS PROJECT WILL BEGIN IN JANUARY AND BE COMPLETED IN SEPTEMBER NEXT YEAR.

15