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The definition of "member of the family" would also be extended to cover parents-in-law, brothers-in-law and sons-in-law.
As regards the levels of maximum fines for certain offences under the Ordinance, the maximum fine has been revised ranging from $10,000 to $100,000.
"This is to ensure sufficient deterrent effect and to maintain relativity with those offences of a similar nature under the Employment Ordinance," the spokesman said.
End
Residential Mortgage Survey results for May released
Residential mortgage loans for the purchase of properties in Hong Kong continued to show significant growth in May, albeit below the 1.6% increase in each of the preceding three months, according to the results of the latest monthly survey conducted by the Hong Kong Monetary Authority (HKMA).
The latest figures show that the total amount of outstanding mortgage lending by the 33 institutions in the survey increased by 1.3% to $293.5 billion. The growth rate is slightly below the monthly average of 1.4% over the last twelve months.
New loans approved and gross loans advanced during the month both grew sharply. However, the effect of this was offset by a substantially higher amount of repayments which rose by 42% to $9.3 billion during May. Nonetheless, such repayments remained quite modest in relation to the outstanding amount of loans (about 3%).
"The property market remained active in May," said the Deputy Chief Executive of HKMA, Mr David Carse.
"However, the volume of new lending also seems to have been boosted by customers refinancing existing loans to take advantage of lower mortgage rates during the period."
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