XN000022-1993-10-15 — Page 19

FRIDAY, OCTOBER 15, 1993

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LEVY PERCENTAGES UNDER THE

TRAVEL AGENTS (AMENDMENT) ORDINANCE

A GOVERNMENT SPOKESMAN ANNOUNCED TODAY (FRIDAY) THAT UNDER THE TRAVEL AGENTS (AMENDMENT) ORDINANCE 1993, THE FINANCIAL SECRETARY HAS SPECIFIED BY NOTICE IN THE GAZETTE THAT THE FUND LEVY SHOULD BE SET AT 0.35% AND THE COUNCIL LEVY AT 0.15%.

THE TRAVEL INDUSTRY COUNCIL OF HONG KONG (TIC) COLLECTS FROM LICENSED TRAVEL AGENTS A 0.5% LEVY ON ALL OUTBOUND PACKAGE TOUR FARES, ON BEHALF OF ITS SUBSIDIARY COMPANY, THE TRAVEL INDUSTRY COUNCIL RESERVE FUND (TICRF).

IN RETURN, TIC RECEIVES FROM TICRF PART OF THE REVENUE COLLECTED TO FINANCE ITS OPERATIONS.

THE ORDINANCE TAKES EFFECT FROM TODAY. TICRF IS THUS REPLACED BY A NEW STATUTORY FUND, THE TRAVEL INDUSTRY COMPENSATION FUND.

UNDER THE ORDINANCE, THE 0.5% LEVY IS SPLIT INTO TWO DISCRETE LEVIES: A FUND LEVY AND A COUNCIL LEVY, BOTH TO BE PAID BY LICENSED TRAVEL AGENTS ON THE BASIS OF OUTBOUND PACKAGE TOUR FARES. THE FINANCIAL SECRETARY MAY SPECIFY THE PERCENTAGES OF THESE TKO LEVIES FROM TIME TO TIME.

THE PERCENTAGES NOW SPECIFIED REFLECT CLOSELY THE ALLOCATION OF LEVY MONIES BY TICRF TO TIC OVER THE PAST FEW YEARS.

THE 0.35% FUND LEVY WILL GO TO THE NEW TRAVEL INDUSTRY COMPENSATION FUND FOR THE COMPENSATION OF AGGRIEVED TRAVELLERS UPON DEFAULT OF TRAVEL AGENTS, WHILE THE 0.15% COUNCIL LEVY KILL GO TO TIC TO HELP FINANCE ITS SELF-REGULATORY EFFORTS, INCLUDING COLLECTION OF THE LEVIES.

INCOME FROM THE 0.15% COUNCIL LEVY KILL BE USED TO FINANCE 80% OF TIC RECURRENT EXPENDITURE.

BETTER THE

"WITH THIS SECURED SOURCE OF INCOME, TIC WILL BE IN A POSITION TO DEVELOP FURTHER A DURABLE SELF-REGULATORY REGIME FOR OUTBOUND TRAVEL INDUSTRY, THE SPOKESMAN SAID.

TR

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AGC OFFERS TRAINING GROUND TO LOCAL LAW GRADUATES

THE LEGAL DEPARTMENT IS NOW INVITING APPLICANTS ORDINARILY LIVED IN HONG KONG TO FILL TRAINEE VACANCIES UNDER THE LEGAL TRAINEE SCHEME (LTS) FROM AUGUST 1 NEXT YEAR.

A SPOKESMAN FOR THE DEPARTMENT SAID THE LEGAL DEPARTMENT WAS FULLY COMMITTED TO A PROGRAMME OF LOCALISATION, THEREFORE THE QUOTA FOR THE LTS HAD BEEN EXPANDED TO FIVE PLACES IN THE BARRISTER STREAM AND FIVE IN THE SOLICITOR STREAM IN 1994.

THIS IS TO GIVE MORE LEGAL TRAINEES A CHANCE то ACQUIRE EXPERIENCE IN VARIOUS TYPES OF LEGAL WORK UNDERTAKEN BY GOVERNMENT LAWYERS, HE SAID.

/THE LTS