CONFIDENTIAL
PART II
THE CONTROL OF RESERVED COMMODITIES
12
Rice
1.
The quantity of rice held in Hong Kong is sufficient for two months' normal supply, and the Director-General of Trade ensures that this stock is maintained.
Frozen Meat and Frozen Poultry
2.
The import and export of frozen meat (beef, mutton, pork and offal) and frozen poultry (chicken, duck, goose, turkey and poultry parts), which are reserved commodities like rice, is controlled by the Director General of Trade under a licensing system. Registered stockholders of these commodities are required to submit monthly returns to the Director General of Trade on their imports, offtake, stock and place of storage.
There is, however, no pre-determined reserve stock, unlike the case of rice, but the total stock maintained by the registered stockholders normally amounts to some 15% of the annual local consumption.
LEGAL PROVISIONS
3.
Under Section 20 of the Reserved Commodities (Control of Imports, Exports and Reserve Stocks) Regulations, the Director-General of Trade may by notice in writing to a stockholder order that any stock of a reserved commodity held by such stockholder be dealt with as the Director-General may direct at the sole expense of such stockholder. Under Section 22 of the same Regulations, the Director-General of Trade may by notice in writing to a stockholder of a reserved commodity fix the maximum price and quantity at which the stockholder may sell that reserved commodity by wholesale generally or to specified persons.
Under Section 13 of the same Regulations, the Director-General of Trade may impose conditions to the registration of a stockholder and under Section 16 of the same Regulations, he may cancel the registration of a stockholder if condition of registration is contravened.
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CONFIDENTIAL
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