XN000022-1989-06-30 — Page 21

FRIDAY, JUNE 30, 1989

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THE SCHEDULE INCLUDED VISITS TO THE MACAU FERRY TERMINAL, SOON-TO-OPEN VESSEL TRAFFIC CENTRE AND THE GOVERNMENT DOCKYARD.

MR MACLEOD ALSO BOARDED A GOVERNMENT LAUNCH FOR A SHORT IN THE HARBOUR, DURING WHICH HE WAS BRIEFED ON THE PROGRESS OF KONG'S NEW SHIPPING REGISTER AND THE LOCAL CRAFT REVIEW.

THE

TRIP HONG

AMENDMENTS TO MONEY CHANGERS LAW TAKE EFFECT TOMORROW

THAT

THE GOVERNMENT REMINDED MONEY CHANGERS TODAY (FRIDAY) IMPORTANT AMENDMENTS TO THE MONEY CHANGERS ORDINANCE WOULD COME INTO EFFECT TOMORROW (SATURDAY).

"MONEY CHANGERS SHOULD MAKE SURE THAT THEIR MODE OF OPERATION WILL COMPLY WITH THE NEW LEGISLATION," A GOVERNMENT SPOKESMAN SAID.

HE SAID THE NEW

PROVISIONS SPECIFY CLEARLY THE INFORMATION WHICH MUST BE PROVIDED BY A MONEY CHANGER ON A DISPLAY BOARD AND IN THE TRANSACTION NOTE.

"THIS IS TO ENSURE THAT PRIOR TO ENTERING INTO A TRANSACTION, THE CUSTOMER HAS ACCESS TO ACCURATE INFORMATION REGARDING THE TERMS THE MONEY CHANGER IS PREPARED TO OFFER, HE SAID.

UNDER THE NEW PROVISIONS, THE MONEY CHANGER MUST DISPLAY CLEARLY ON A NOTICE BOARD THE NET BUYING AND SELLING RATES HE 18 PREPARED TO OFFER, THAT IS AFTER DEDUCTING ALL CHARGES AND COMMISSIONS.

MONEY CHANGER FORM SPECIFIED CUSTOMER THE

BEFORE COMPLETING AN EXCHANGE TRANSACTION, A MUST MAKE OUT A TRANSACTION NOTE IN DUPLICATE IN THE IN THE ORDINANCE. THE MONEY CHANGER MUST GIVE THE ORIGINAL COPY OF THE NOTE. THE NOTE IS ΤΟ BE BILINGUAL AND EASILY UNDERSTOOD.

A MONEY CHANGER SHALL NOT ADVERTISE THAT HE CHARGES OR DOES NOT CHARGE, A COMMISSION OR ANY OTHER TRANSACTION FEE: NOR SHALI. HE MAKE FALSE OR MISLEADING STATEMENTS TO A CUSTOMER ABOUT THE RATE от EXCHANGE, THE TERMS OF AN EXCHANGE TRANSACTION OR THE APPLICATION OF THE MONEY CHANGERS ORDINANCE.

CRIMINAL LIABILITY HAS BEEN EXTENDED TO DIRECTORS, MANAGERS AND SECRETARIES OF CORPORATE MONEY CHANGERS.

COMPLAINTS ABOUT MONEY CHANGERS SHOULD BE MADE TO THE POLICE.

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