COMMODITIES TRADING (CONTRACT LEVY) RULES

COMMODITIES TRADING (CONTRACT LEVY) RULES

COMMODITIES TRADING (CONTRACT LEVY) RULES

(Cap. 250. section 79A)

[1 November 1985.]

1. These rules may be cited as the Commodities Trading (Contract Level) Rules.

2. The rate of the contract levy for the purpose of section
79A(I) of the Ordinance shall be 50 cents per leviable transaction.

3. (1) The Exchange Company shall within 5 working days
after the end of cach calendar month file with the Commissionef a
return in the form prescribed in the Schedule showing the number of
leviable transactions registered during that month.

(2) The return filed under paragraph (1) shall distinguish
between buy and sell contracts and shall specify the commodity in
respect of which each transaction was registered.

4. (1) Where the Exchange Company fails to make a return
to the Comi-nissionQ.F for any month within the period prescribed in
rule ',. the contract levy shall be payable on the sarne number of
]cl iable transactions as that shown on the return for the last month
in respect of which a return was made. plus 20 per cent.

(2) The Commissioner shall within 2 working days of paragraph (1) coming
into operation notify the Exchange Company of the application of paragraph (1)
and of the number of leviable transactions on which the contract levy is payable
thereunder for the preceding month.

(3) Where the contract levy has been paid for any month on
the basis of paragraph (1) and a return is subsequently. filed in
respect of that month, an adjustment shall be made in the amount of
contract levy payable for the month in which the return is filed.

5. (1) The Exchange Company shall within 10 working days
after the end of each calendar month pay to the. Commission the
contract levy based on -

(a) the rate specified in rule 2' and

(h)the number of leviable transactions shown in the return
filed under rule 3 or assessed under rule 4.

(2) Payment of the contract levy shall be made in such manner
as may be agreed between the Commissione+- and the Exchange
Company from time to time.

6. (1) The Exchange Company shall before 30 April in each
year furnish to the Commission audited accounts in support of the
returns of leviable transactions rnade by the Exchange Company to
the Commission for the 12 months ending on 31 March in that Year.
1976 ed cap.250 C2 L.N. 278/75. Citation. Rate of contract levy. Form and timing of returns. Schedule Assessment in default of returns. Manner and timing of payments. Provision of audited accounts.

L.N. 278/75. Citation. Rate of contract levy. Form and timing of returns. Schedule Assessment in default of returns. Manner and timing of payments. Provision of audited accounts.

https://oelawhk.lib.hku.hk/items/show/2986

1964

v16

250

2