XN000022-1994-06-29 — Page 7

WEDNESDAY, JUNE 29, 1994

THE NEW OFFICE OCCUPIES AN

AREA OF 3,800 SQUARE METRES AS

COMPARED TO 1,600 SQUARE METRES AT THE PRESENT OFFICE.

THE MEMBERS WERE TAKEN ON A CONDUCTED TOUR OF THE NEW PREMISES TO SEE THE IMPROVED ENVIRONMENT THAT THE NEW ACCOMMODATION OFFERED TO CUSTOMERS.

EARLIER IN THE MEETING, MEMBERS WERE ALSO BRIEFED ON THE NEW FIRST REGISTRATION TAX SCHEME.

THEY WERE TOLD THAT UNDER THE NEW SCHEME, THE AMOUNT OF FIRST REGISTRATION TAX PAYABLE WOULD BE BASED ON THE RETAIL PRICE (BEFORE TAX) OF THE VEHICLE WHICH DISTRIBUTORS WERE REQUIRED TO PUBLISH.

PREVIOUSLY, THE TAX WAS BASED ON THE COST, INSURANCE AND FREIGHT VALUE OF THE VEHICLE.

THE SPOKEMAN ASSURED MEMBERS THAT THE NEW SCHEME WAS BASICALLY REVENUE NEUTRAL. THE OBJECTIVE WAS то PROTECT PUBLIC REVENUE BY PREVENTING TAX AVOIDANCE.

THE SPOKESMAN ALSO PRAISED MEMBERS OF THE CLGS THAT THEY HAD BEEN GIVING VALUABLE SUGGESTIONS TO IMPROVE SERVICES.

"SOME OF THE SUGGESTIONS HAVE ALREADY BEEN IMPLEMENTED OTHERS ARE BEING CAREFULLY CONSIDERED," HE SAID.

WHILE

UK/HK SCHOLARSHIPS FOR POSTGRADUATE STUDIES

FOR

THE UNITED OPEN FOR

A NUMBER OF SCHOLARSHIPS AIMING AT PROVIDING OPPORTUNITIES OUTSTANDING LOCAL RESIDENTS FOR POSTGRADUATE STUDIES IN KINGDOM STARTING IN THE 1995/96 ACADEMIC YEAR ARE APPLICATIONS.

THE SCHOLARSHIPS ARE OFFERED BY THE UK/HK SCHOLARSHIPS COMMITTEE ON BEHALF OF THE UNITED KINGDOM AND HONG KONG GOVERNMENTS.

THE SCHOLARSHIPS WILL BE FOR POSTGRADUATE STUDIES LEADING TO A HIGHER DEGREE EITHER BY RESEARCH OR BY COURSEWORK.

APPLICANTS MAY CHOOSE ANY SUBJECT OF STUDY OR RESEARCH AT ANY LEADING ACADEMIC INSTITUTIONS AT THE TERTIARY LEVEL IN THE PUBLIC SECTOR IN THE UNITED KINGDOM.

ALL

SUCCESSFUL APPLICANTS WILL BE RESPONSIBLE FOR FULFILLING APPLICATION PROCEDURES AND ADMISSION REQUIREMENTS OF THE INSTITUTIONS OF THEIR CHOICE AND SHOULD BE OFFERED A PLACE SUBSEQUENTLY.

THEY ARE EXPECTED TO POSSESS HIGH ACADEMIC PROWESS AND LEADERSHIP QUALITIES. THEY SHOULD ALSO DEMONSTRATE A STRONG SENSE OF COMMITMENT TO HONG KONG AND HAVE THE POTENTIAL ΤΟ CONTRIBUTE SIGNIFICANTLY TO THE MUTUAL UNDERSTANDING BETWEEN THE UNITED KINGDOM AND HONG KONG.

/UPON GRAUDATION,