TNAG-1441-FCO40-1925-Constitutional-development-in-Hong-Kong-1987 — Page 218

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On

19

September 1985, a press release was issued by the UMELCO Office to invite interested parties and the public to submit representations on the 1985 draft Bill and the Inland Revenue (Amendment) Ordinance 1984. In response 40 representations were received and ten meetings were held, including meetings with the Hong Kong Society of Accountants and the Commissioner of

Inland Revenue.

A report was then made to UMELCO who in October 1985 made a report to the Governor setting out their findings and recommendations on the 1985 Bill and recommending the repeal of the 1984 Ordinance.

The Administration accepted all of the findings made by UMELCO on the 1985 draft Bill and they were all incorporated before it

it was read for the first time

time in the Council.

Following the Bill's introduction a Legislative Council Ad Hoc Group was formed to study it. Further amendments of a technical nature were made and accepted in the committee stage of the Bill during the Third Reading on 12 March 1986. The Bill received the Governor's assent and passed into law the next day.

In his 1986 Budget Speech the Financial Secretary announced his proposal to repeal the Inland Revenue (Amendment) Ordinance 1984 with effect from 1 April 1986.

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