310747-1941-Supplementary-Draft-Bills--Police-Militia-Status- — Page 3

732

[No. 18-25.8.41.-1.]

Short title.

Amendment

of Ordinance No. 40 of 1931, s. 2 amended by Ordinance No. 33 of 1940, s. 2.

Amendment of Ordinance

No. 40 of 1931, s. 6 (2) as amended by Ordinance No. 33 of 1940, s. 3.

Commence-

in the case of

A BILL

INTITULED

An Ordinance to amend the Betting Duty Ordinance, 1931, as amended by the Betting Duty Amendment Ordinance, 1940.

BE it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows--

1. This Ordinance may be cited as the Betting Duty Amendment Ordinance, 1941.

2. The Proviso to section 2 of the Betting Duty Ordinance, 1931, as enacted by section 2 of the Betting Duty Amendment Ordinance, 1940, is repealed and the following Proviso is substituted therefor :-

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Provided that not less than eighty-eight per cent., or in the case of a club organizing the race not less than seventy- six per cent., of the total contributions or subscriptions, after deduction of the duty, shall be devoted to prizes for the subscribers.

3. Section 6 (2) of the Betting Duty Ordinance, 1931, as amended by section 3 of the Betting Duty Amendment Ordinance, 1940, is further amended by the substitution of the words "fifteen per cent." for the words ten per cent."

4. This Ordinance shall come into force on the 1st day ment except of October, 1941: Provided that the provisions of the Betting Kwangtung Duty Ordinance, 1931, as amended by the Betting Duty Amend- Handicap, 1941, Race

ment Ordinance, 1940, shall continue to apply in the case of of the Hong cash-sweep tickets sold, or to cash-sweep chances allocated Kong Jockey by list, on the Kwangtung Handicap Race of the Hong Kong Jockey Club Scheduled for the 25th October, 1941, whether run on that date or on any postponed date substituted therefor.

Club.

Objects and Reasons.

1. It has been decided that, for the time being at any rate, the duty on cash-sweep tickets sold and on cash-sweep chances allocated by list, which was increased in 1940 from five per cent. to ten per cent. can be further increased to fifteen per cent. without serious risk of the increase of duty resulting by reduction of patronage to a loss in revenue.