XN000022-1990-04-03 — Page 12

TUESDAY, APRIL 3, 1990

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BUT ALWAYS SUBJECT TO THE GENERAL RULE THAT INTEREST CEASES TO ACCRUE AFTER 36 COMPLETE MONTHS WITHOUT SURRENDER FOR PAYMENT OF TAX.

EXAMPLE:

$1,000 CERTIFICATES PURCHASED ON APRIL 4, 1990, MAY 4, 1990 AND JUNE 4, 1990 RESPECTIVELY, SURRENDER IN PAYMENT OF TAX DUE ON JULY 3, 1990 WILL HAVE INTEREST CALCULATED AS FOLLOWS:

ON $1,000, APRIL 4, 1990 TO JULY 3, 1990 3 COMPLETE MONTHS AT $6.70 PER MONTH

ON $1,000, MAY 4, 1990 TO JULY 3, 1990 2 COMPLETE MONTHS AT $6.70 PER MONTH

ON $1,000, JUNE 4, 1990 TO JULY 3, 1990 1 COMPLETE MONTH AT $6.70 PER MONTH

= $20.10

= $13.40

$ 6.70

$40.20

LAW CHANGES RECOMMENDED TO PROTECT CONSUMERS

*

LEGISLATIVE

THE LAW REFORM COMMISSION RECOMMENDED A NUMBER OF CHANGES ON SALE OF GOODS AND SUPPLY OF SERVICES AIMED AT GIVING CONSUMERS BETTER PROTECTION.

THE COMMISSION PUBLISHED A REPORT ON THE SUBJECT TODAY

(TURSDAY).

THE

CHAIRMAN OF THE COMMISSION'S SUB-COMMITTER ON SALE OF GOODA AND SUPPLY OF SERVICES, MISS CHRISTINE LOH, SAID THE REPORT WAS RESULT OF TWO YEARS' WORK BY THE COMMISSION AND A SUB-COMMITTEE OF LAWYERS, CONSUMER ORGANISATION REPRESENTATIVES AND BUSINESSMEN.

MISS LOH POINTED OUT THAT ALTHOUGH THE REPORT WAS CONCERNED WITH A RELATIVELY SMALL PART OF THE SALE OF GOODS ORDINANCE, THE COMMISSION WAS NEVERTHELESS RECOMMENDING IMPORTANT CHANGES IN LAW THAT WOULD GO SOME WAY IN IMPROVING THE POSITION OF CONSUMERS IN HONG KONG.

THE COMMISSION RECOMMENDED LEGISLATION TO CONTROL "HARSH AND UNCONSCIONABLE" TERMS FOR CONSUMER SALE OF GOODS AND SUPPLY OF

SERVICES CONTRACTS.

A DEFINITION OF "HARSH AND UNCONSCIONABLE HAD NOT BEEN RECOMMENDED BUT A LIST OF FACTORS TO WHICH A COURT SHOULD HAVE REGARD IN CONSIDERING WHETHER THE TERMS OF A CONTRACT WERE SUCH HAD BEEN

PROPOSED.

/MISS LOH