XN000022-1987-12-30 — Page 5

WEDNESDAY, DECEMBER 30, 1987

UP SET

A NEW RESERVE FUND

INDUSTRY "SECONDLY, THE TRAVEL

COUNCIL WILL COMPENSATION FUND. THIS WILL REPLACE THE TRAVEL AGENTS' ESTABLISHED UNDER THE TRAVEL AGENTS ORDINANCE, SHE SAID.

11

MRS CHAN SAID THAT UNIVERSAL MEMBERSHIP OF TIC WOULD HELP TO IMPROVE PROFESSIONAL DISCIPLINE AND STANDARDS AMONGST TRAVEL AGENTS,

COHESIVENESS PROMOTE GREATER

WITHIN THE

AND INDUSTRY

ENSURE THE VIABILITY OF THE NEW COMPENSATION FUND.

"IT WILL ALSO ENABLE THE INDUSTRY TO ACCEPT INTO ITS RANKS A CODE ONLY THOSE BONA-FIDE OPERATORS WHO ARE WILLING TO COMPLY WITH OF PRACTICE TO BE ADOPTED BY TIC, SHE SAID.

11

THE

UNDER THE NEW ARRANGEMENTS, TRAVEL AGENTS CAN JOIN CONSTITUENT ASSOCIATIONS OF THE TIC AS "ORDINARY" OR "ASSOCIATE" MEMBERS.

AN ORDINARY MEMBER HAS TO BE A LIMITED LIABILITY COMPANY WITH

OF A MINIMUM PAID-UP CAPITAL

$300,000 FOR ITS MAIN LOCATION AND $150,000 EXTRA CAPITAL FOR EACH BRANCH OFFICE.

AN ASSOCIATE MEMBER MAY BE A LIMITED LIABILITY COMPANY, PARTNERSHIP OR PROPRIETORSHIP WITH A MINIMUM CAPITAL OF $50,000.

IN ADDITION TO HANDLING HOTEL ACCOMODATION AND TICKETING SALES, ASSOCIATE MEMBERS COULD ALSO ACT AS RETAILERS FOR THE SALE OF PACKAGE TOURS, THOUGH THEY WOULD NOT BE PERMITTED TO ORGANISE PACKAGE TOUR TRAVEL ON THEIR OWN.

ALL TRAVEL AGENTS MUST HAVE PREMISES USED SOLELY FOR CONDUCTING TRAVEL BUSINESS.

"THE AVAILABILITY OF ASSOCIATE MEMBERSHIP WILL ENABLE SMALL ** MRS CHAN OPERATORS TO CONTINUE THEIR BUSINESS UNDER THE NEW SCHEME, EXPLAINED.

TO ENSURE THAT INDIVIDUAL TRAVEL AGENTS ARE TREATED ANY APPLICANT WHOSE APPLICATION FOR MEMBERSHIP IS REJECTED MAY TO AN INDEPENDENT APPEAL BOARD UNDER THE AEGIS OF THE TIC.

FAIRLY,

APPEAL

APPLICANT, THE APPLICANT AS

SHOULD THE BOARD FIND IN FAVOUR OF THE ASSOCIATION CONCERNED WILL BE OBLIGED TO ACCEPT MEMBER.

THE

A

IF THE BOARD REJECTS THE APPEAL, THE APPLICANT CAN STILL APPLY

TRAVEL TO THE REGISTRAR OF

AGENTS FOR A

IN LICENCE.

EXCEPTIONAL CIRCUMSTANCES, THE REGISTRAR MAY GRANT A LICENCE TO SUCH AN APPLICANT AND REQUIRE THE TIC TO ACCEPT THE APPLICANT AS A MEMBER.

THE TIC COMPENSATION FUND WILL BE ESTABLISHED BY A ONE PER CENT LEVY ON THE SALE OF ALL GROUP PACKAGE TOURS. THE CONTRIBUTION AGENT'S BUSINESS WILL, THEREFORE, VARY ACCORDING TO THE VOLUME OF AN TURNOVER.

/THE COMPENSATION