XN000022-1985-02-06 — Page 24

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WEDNESDAY, FEBRUARY 6, 1985

+AND THE SAME SHALL APPLY TO A MONEY CHANGER WHO HIRES A COUNTER OR SHOP SPACE IN THE HOTEL PREMISES, HE SAID.

HE BELIEVED THIS SHOULD HELP TO CLEAR SOME OF THE DOUBTS IN SOME SECTORS.

CLAUSE (5), HE POINTED OUT, STIPULATES THAT A MONEY CHANGER WHO FAILS TO DRAW THE ATTENTION OF HIS CLIENTS TO THE CONTENTS OF THE STATEMENT SPECIFYING THE NATURE OF ANY CHARGE OR COMMISSION WOULD GIVE HIS CLIENTS GROUND TO RESCIND THE TRANSACTIONS.

+AFTER CAREFUL CONSIDERATION, MY UNOFFICIAL COLLEAGUES AND I FELT THAT IT MIGHT GIVE RISE TO ENFORCEMENT DIFFICULTIES AND COULD OPEN TO ABUSE, HE SAID.

HE WAS PLEASED THAT AMENDMENTS TO THE ORIGINAL DRAFT OF THIS BILL TO REMEDY THIS PARTICULAR ISSUE HAD ALSO BEEN ACCEPTED BY THE ADMINISTRATION.

HE ALSO PROPOSED AN AMENDMENT TO REQUIRE THE STATEMENT TO BE PRINTED PROMINENTLY.

THANKING THE UNOFFICIALS FOR THE IR SUPPORT AND CAREFUL CONSIDERATION OF THIS BILL, THE SECRETARY FOR ECONOMIC SERVICES, THE HON PIERS JACOBS SAID IT WAS TO GIVE SOME PROTECTION TO CUSTOMERS OF MONEY CHANGERS, WITHOUT INTERFERING UNNECESSARILY WITH THE NORMAL BUSINESS PRACTICES ADOPTED IN THIS PARTICULAR TRADE.

+WE HOPE THAT WE HAVE STRUCK THE RIGHT BALANCE, HE SAID.

THE AMENDMENTS INTRODUCED BY MR LEE AT COMMITTEE

STAGE WOULD UNDOUBTEDLY IMPROVE THE BILL, AND HE SUPPORTED THEM.

APPEAL CHANNEL FOR TAXPAYERS URGED

****

GOVERNMENT SHOULD ESTABLISH A SYSTEM TO DEAL WITH APPEALS BY TAXPAYERS AGAINST DELAY IN FINALISING AN OBJECTION BY THE TAX AUTHORITY, THE HON MRS RITA FAN SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

SHE WAS SPEAKING AGAINST THE MOTION IN THE RESUMED DEBATE ON THE INLAND REVENUE (AMENDMENT)(NO. 2) BILL 1984.

+

+IN ALL FAIRNESS, THERE SHOULD BE A CHANNEL FOR APPEAL BY THE TAXPAYER WHEN THE LATTER HAS GOOD REASONS TO BELIEVE THAT THERE HAVE BEEN UNNECESSARY DELAY ON THE PART OF TAX AUTHORITY,+ SHE SAID.

SHE BELIEVED