TNAG-1733-FCO40-2446-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 273

le

and thereafter, by further

by further appeal, to the Registrar of

Travel Agents. Should the Registrar find in favour of the

applicant concerned, he may direct the TIC to accept the

applicant as a member. A similar right of appeal is

provided for in respect of an agent whose membership has

been suspended or revoked by the TIC.

Sir, as I have mentioned earlier, it is intended

non-statutory compensation scheme should be

that a new

established

replace the existing Travel Agents'

compensation fund will be named

Reserve

the TIC

This will be, in the form of a separate

Fund.

The new

Reserve Fund.

company.

In addition

representatives of the travel

government

industry, the Board of Directors of the TIC Reserve Fund

will include a Legislative Councillor, a

official, a Consumer Council representative and

and four

professionals drawn from the legal, banking, accounting and

insurance sectors respectively.

Section 35 and the existing Schedule to the

principal Ordinance require new licensees to pay $2,500 into

the Travel Agents' Reserve Fund. Under the new arrangement,

these provisions will be repealed by clauses 15 (2) and 17 of

the Bill and will be brought into effect from 15 July 1988.

Thereafter, all new licensees and TIC members will be

required under the TIC Constitution to contribute to the TIC

Reserve Fund by way of a levy on the sale of

of all outbound

package tours. The levy has been set at a rate of one per

cent оп the price of the tour. The percentage of levy

payable may not be amended without the prior approval of the

Government.