XN000022-1990-07-18 — Page 19

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WEDNESDAY, JULY 18, 1990

FOLLOWING EXTENSIVE CONSULTATION WITH

ON TRAVEL AGENTS, REPRESENTATIVES HONG KONG ASSOCIATION OF BANKS, DIFFICULTIES WERE IDENTIFIED.

THE

ADVISORY COMMITTEE TRAVEL INDUSTRY AND THE OPERATIONAL AND PRACTICAL

OF THE MAJOR

AGENTS, THEIR WITH WHICH THE

"THESE INCLUDED THE NEED TO DETERMINE AND PRESCRIBE IN DETAIL THE LEGAL AND CONTRACTUAL RELATIONSHIPS BETWEEN TRAVEL CLIENTS, THE 'CUSTODIANS' OF THE MONEY AND THE BANKS ACCOUNTS ARE OPENED," SIR PIERS SAID.

INSURMOUNTABLE, THEY WERE MUCH TIME TO

NOT "ALTHOUGH THESE PROBLEMS WERE NEVERTHELESS COMPLEX IN NATURE AND WOULD HAVE REQUIRED RESOLVE, HE ADDED.

"

"IN THE END, THE PRESENT SCHEME OF SELF-REGULATION WHICH INCLUDES, INTER PROVISION OF

ASSURANCE FOR SOME

OUTBOUND TRAVELLERS TRAVEL INDUSTRY COUNCIL RESERVE FUND," SIR PIERS SAID.

ADMINISTRATION

DECIDED

IN

FAVOUR

OF

THE

ALIA, THROUGH

THE

THE

י

SELF-REGULATION FOR TRAVEL INDUSTRY TO BE REVIEWED

* * * * *

THE

TO EXAMINE

ENTIRE THE GOVERNMENT IS CONDUCTING A REVIEW

INDUSTRY, DR THE PACKAGE OF SELF-REGULATION FOR THE OUTBOUND TRAVEL HON HENRIETTA IP SAID TODAY (WEDNESDAY) IN THE LEGISLATIVE COUNCIL.

AGENTS'

DR IP SAID THERE WERE ARRAS IN

TABLING THE REPORT ON THE ADMINISTRATION OF THE TRAVEL RESERVE FUND FOR THE FISCAL YEAR STARTING APRIL 1, 1988, IN TERMS OF COST-EFFECTIVENESS AND EFFICIENCY, THE PRESENT SYSTEM THAT COULD BE REFINED.

THE AS CHAIRMAN OF THE ADVISORY COMMITTEE ON TRAVEL AGENTS AND

IP POINTED OUT THAT THE TRAVEL INDUSTRY COUNCIL RESERVE FUND, DR

WAS TO ULTIMATE OBJECTIVE OF SELF-REGULATION FOR THE TRAVEL INDUSTRY

BENEFIT OF TRAVELLERS CREATE A SOUND FRAMEWORK OF OPERATION FOR THE AND OPERATORS ALIKE.

COUNCIL INDUSTRY TRAVEL "ALTHOUGH BOTH THE

EXPERIENCE INDUSTRY COUNCIL RESERVE FUND HAVE GAINED

BEING RESERVES ARE IN THEIR RESPECTIVE ROLES HEALTHY RATE, THERE IS NOT YET ROOM FOR COMPLACENCY.

AND

AND THE TRAVEL AND CONFIDENCE BUILT UP AT

A

PAYMENT FOR THE

RATE OF EX-GRATIA "FOR INSTANCE, COULD THE EXISTING

ADMINISTRATION BE

COULD IMPROVED? CENT PEGGED AT 70 PER RESERVE FUND BE FURTHER STREAMLINED? SHOULD THE ONE PER CENT LEVY PACKAGE TOURS BE LOWERED?

ON

/"ALL THESE