TNAG-0955-FCO40-1174-Legislation-for-traffic-on-roads-in-Hong-Kong-1980 — Page 50

G.S. 84

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XC

XCRI(80)34

4

SAN

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Depending on the number of applications, the Transport Department normally arranges an auction of unscheduled vehicle registration marks every six weeks, with an average of 25-30 marks being sold on each occasion. The auctions are conducted by staff of the Rating and Valuation Department. After the deduction of expenses, the proceeds of the auction are paid into the Government Lotteries Fund.

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Since September 1978, 338 unscheduled registration numbers have been auctioned and they have realised a total sum of $1,28 million. 227 sales fetched more than the minimum price of $1,000 while the average price paid was $3,800.

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The scheme is working well and public reaction to it is favourable, No change in the system of auctioning unscheduled vehicle registration marks, nor in the level of deposit required, is considered desirable at present, The level of deposit will be kept under review to ensure that it remains sufficiently high to dissuade frivolous applicants. As and when required, publicity will be arranged to emphasise that the proceeds of auctions are used for charitable purposes.

8th October 1980

(ENV 40/03/03 II)

COUNCIL CHAMBER

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