TNAG-0955-FCO40-1174-Legislation-for-traffic-on-roads-in-Hong-Kong-1980 — Page 140

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A154

Ord. No. 34/80

Amendment of section 18E.

INLAND REVENUE (AMENDMENT) (NO. 2)

"relevant trade, profession or business" means a trade, profession or business to which subsection (2) applies and in the case of which the basis period for the year preceding the year of assessment in which the cessation occurs ends on a day other than 31 March;

"transitional amount" means-

3.

(a) where the assessable profits from a relevant trade, profession or business for the year of assessment commencing on 1 April 1974 fell to be computed under section 18(2) on the amount of profits therefrom for the year ending on a day other than 31 March in the year preceding that year of assessment, the amount of profits from the relevant trade, profession or business arising in or derived from the Colony during the period beginning on the day next following the corresponding day in that year of assessment and ending on 31 March 1975; (b) where the assessable profits from a relevant trade, profession or business for the year of assessment commencing on 1 April 1974 fell to be computed under section 18A(2), the amount of profits from the relevant trade, profession or business arising in or derived from the Colony during the period beginning on the day next following the end of the basis period for that year of assessment and ending on 31 March 1975;

and where a loss was incurred in the carrying on of a relevant trade, profession or business referred to in paragraph (a) or (b) of this definition during the period therein referred to, "transi- tional amount", in relation to that trade, profession or business, shall be construed to mean a nil amount.".

Section 18E of the principal Ordinance is amended by inserting after subsection (3) the following-

"(4) For the purposes of section 18D(2A), where in the case of a trade, profession or business it is necessary in order to arrive at the profits or losses for any period to divide or apportion to specific periods the profits and losses for any period for which accounts have been made up, or to aggregate any such profits or losses or any apportioned parts thereof, the Commissioner may make such division and apportionment or aggregation as he may deem proper in that

1980.

case.".

Passed by the Hong Kong Legislative Council this 9th day of July

LORNA LEUNG,

Clerk to the Legislative Council.

This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

LORNA LEUNG,

Clerk to the Legislative Council.

MONETARY STATISTICS

L.S.

Ord. No. 35/80

A155

HONG KONG

No. 35 OF 1980

I assent.

MURRAY MACLEHOSE,

Governor.

10 July 1980.

An Ordinance to provide for the collection of statistical information from

banks and deposit-taking companies.

[

1

Enacted by the Governor of Hong Kong, with the advice and consent

of the Legislative Council thereof.

1.

This Ordinance may be cited as the Monetary Statistics Ordinance Short title and 1980, and shall come into operation on a day to be appointed by the commencement. Governor by notice in the Gazette.

2. In this Ordinance, unless the context otherwise requires— "bank” means a bank licensed under the Banking Ordinance; "deposit-taking company" means a company registered as a deposit-taking

company under the Deposit-taking Companies Ordinance; "Secretary" means the Secretary for Monetary Affairs.

Interpretation.

(Cap. 155.)

(Cap. 328.)

3. (1) Every bank any every deposit-taking company shall, within Returns, 14 days after the last day of each calendar month, submit to the Secretary in a form specified by him a return setting out such statistical information relating to the assets and liabilities of its offices and branches as he may require for the purpose of measuring developments in the monetary sector.

(2) In addition to any return required by subsection (1) the Secretary may, by notice in writing, call upon any bank or deposit-taking company to submit to him, within a time and in a form specified in the notice, such other return or such further or fuller return of statistical information as he may require for the purpose of measuring developments in the monetary

sector.

(3) The Secretary may require any return or information submitted to him pursuant to a requirement under this section to be accompanied by a certificate of the auditors of the bank or deposit-taking company as to whether or not, in the opinion of the auditors, the return or information is correctly compiled from the books and records of the bank or deposit- taking company.

4.

(1) The Secretary and every person who is or has been authorized Secrecy. by him to have access to returns and information submitted by banks and deposit-taking companies under this Ordinance shall preserve and aid in preserving secrecy with regard to all such returns and information.

(2) Neither the Secretary nor any other person shall disclose to any unauthorized person any return or information submitted by any bank or deposit-taking company under this Ordinance.