TNAG-1855-FCO40-2630-Legislative-Council-of-Hong-Kong-memoranda-and-minutes-of-me-1989 — Page 125

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HONG KONG LEGISLATIVE COUNCIL —15 March 1989 香港立法局 一九八九年三月十五日

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currency. Members of the Legislative Council ad hoc group are concerned that display or advertising by the money changers of the rate of commission or other charges would cause confusion to the customers in their interpretation of the net rate of exchange, particularly those tourists whose first language is not English. The display of the net rate of exchange should be adequate for the customers to judge the terms offered by individual money changers and there is no need for the money changers to make known their profit margin. The originally proposed section 8(2) is therefore considered redundant and the present amendment is to substitute that with a new section 8(2) which prohibits advertisements relating to the charging or non-charging of commissions or other charges by the money changers.

Sir, I beg to move.

Proposed amendments

Clause 5

That clause 5 be amended, by adding at the end "without any deduction" in the proposed section 4(10).

Clause 8

That clause 8 be amended-

by deleting proposed section 8(2) and substituting

"(2) A money changer shall not advertise

(a)

that he charges a commission on an

exchange transaction;

(b)

that he charges no commission on an

exchange transaction;

(c)

that he makes any other charge on an exchange transaction; or

(d)

that he does not make any other charge

on an exchange transaction.".