TNAG-1364-FCO40-1810-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1986 — Page 81

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The Board at present has a surplus balance of

In order to correct the imbalance between

$30 million.

income and expenditure the Board has recommended to the

Government that the rate of levy be reduced by 25%,

to 0.15%.

The rate of levy imposed under Section 35 of the

Pneumoconiosis (Compensation) Ordinance may be altered by

resolution of the Legislative Council. A draft resolution,

which makes the recommended reduction, has been prepared

accordingly.

Under Section 36 (3) of the Ordinance, the revised

rate of levy would come into effect thirty days after the

publication of this resolution in the Gazette, that is

on 6 January 1986.

Sir, I beg to move.