Cap. 289 《儲稅券條例》Tax Reserve Certificates Ordinance

The Commissioner is hereby empowered to issue tax reserve certificates of such denominations and subject to such conditions as the Chief Executive may prescribe by rules. (Amended 12 of 1999 s. 3)

If a person applies for the purchase of a certificate other than pursuant to the proviso to section 71(2) of the Inland Revenue Ordinance (Cap. 112), the person (applicant) must make an application to the Commissioner for an account to be maintained in the applicant’s name unless an account is already being maintained in the applicant’s name. (Replaced 4 of 2010 s. 22)

The Commissioner may grant an application under subsection (1A) and the Commissioner shall maintain the account in the name of the applicant on such conditions as the Secretary for Financial Services and the Treasury may prescribe by rules. (Added 24 of 1999 s. 3. Amended L.N. 106 of 2002)

If an account is maintained in the name of an applicant, the Commissioner, for each payment received from the applicant for the purchase of a certificate in the circumstances mentioned in subsection (1A), must make an entry in the account instead of issuing a certificate for the payment. (Replaced 4 of 2010 s. 22)

Where an applicant applies for the purchase of a certificate pursuant to the proviso to section 71(2) of the Inland Revenue Ordinance (Cap. 112), the Commissioner shall issue a certificate upon payment. (Added 24 of 1999 s. 3)

An entry made in an account in accordance with subsection (1AB) is deemed to be a certificate issued under subsection (1) and, unless the context otherwise requires, this Ordinance and the subsidiary legislation made thereunder apply to the entry in the same manner as they apply to a certificate. (Added 99 of 1995 s. 3. Amended 24 of 1999 s. 3)

Subject to section 71 of the Inland Revenue Ordinance (Cap. 112), the certificates shall, subject to such conditions as the Secretary for Financial Services and the Treasury 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. (Amended 7 of 1985 s. 4; L.N. 106 of 2002)

The Secretary for Financial Services and the Treasury may by order published in the Gazette amend the Schedule. (Amended L.N. 106 of 2002)

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” or “儲稅券存款”, and the principal moneys required for the redemption of the certificates shall be paid by the Commissioner out of such account. (Amended 80 of 1997 s. 118)

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 Hong Kong. (Amended 12 of 1999 s. 3)