TAX RESERVE CERTIFICATES ORDINANCE

TAX RESERVE CERTIFICATES ORDINANCE

LAWS OF HONG KONG

TAX RESERVE CERTIFICATES ORDINANCE

CHAPTER 289

REVISED EDITION 1964

OF

PRINTED AND PUBLISHED BY THE GOVERNMENT PRINTER
HONG KONG





CHAPTER 289.

TAX RESERVE CERTIFICATES

Toprovide for the issue of tax reserve certificates and their
acceptance in payment of certain taxes, and for purposes
connected therewith.

[23rd December, 1955.]

1. This Ordinance may be cited as the Tax Reserve Certificates
Ordinance.

2. In this Ordinance, unless the context otherwise requires

'Commissioner' means the Commissioner of Inland Revenue*,

'certificates' means tax reserve certificates issued by the Commissioner
under the provisions of section 3.

3. (1) The Commissioner is hereby empowered to issue tax reserve
certificates of such denominations and subject to such conditions as
the Governor may prescribe by rules.

(2) The certificates shall, subject to such conditions as the Governor
may prescribe by rules, be accepted by the Commissioner, together with
any interest due thereon, in payment by the holder thereof of any
amount due by him in respect of any, or all, of the taxes specified in the
Schedule, the assessment and collection of which are vested in the
Commissioner.

(3) The Governor may by order published in the Gazette amend the
Schedule.

4. (1) All moneys received for the purchase of certificates issued
under this Ordinance shall be paid by the Commissioner into an account
in the Treasury to be called 'Deposits-Tax Reserve Certificates', and.
the principal moneys required for the redemption of the certificates shall
be paid by the Commissioner out of such account.

(2) Any interest which may become due and payable in respect of
any certificate shall be charged upon and paid out of the general
revenue and assets of the Colony.

SCHEDULE.

Any tax charged under the Inland Revenue Ordinance.

(Replaced, G.N.A. 159160)
Originally 66 of 1955. G.N.A. 29/58. G.N.A. 159/60. Short title. Interpretation. Power of Commissioner to issue tax reserve certificates. Method of accounting for moneys received for purchase of tax reserve certificates, and manner of redemption of certificates and payment of interest. (Cap. 112.)

Originally 66 of 1955. G.N.A. 29/58. G.N.A. 159/60. Short title. Interpretation. Power of Commissioner to issue tax reserve certificates. Method of accounting for moneys received for purchase of tax reserve certificates, and manner of redemption of certificates and payment of interest. (Cap. 112.)

https://oelawhk.lib.hku.hk/items/show/3123

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