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Following is the speech by the Secretary for Financial Services and the Treasury, Mr Frederick Ma, in moving the resolution on Bankruptcy (Fees and Percentages) (Amendment) Order 2007 in the Legislative Council today (June 14):
Madam President,
I move the third resolution standing in my name on the agenda. The resolution seeks this Council's approval of the Bankruptcy (Fees and Percentages) (Amendment) Order 2007, which was made by the Chief Justice under section 114 of the Bankruptcy Ordinance.
Again, the Amendment Order is part and parcel of the amendments to the subsidiary legislation under the Bankruptcy Ordinance to implement the Bankruptcy (Amendment) Ordinance 2005 enacted by this Council in July 2005. The amendments to the fee schedules are merely technical in nature, and do not represent any adjustment to the fee levels. We have also taken the opportunity to adopt the Judiciary's view to clarify that the fees for a bankruptcy petition are inclusive of any fee on answering a petition or setting down for hearing.
Madam President, I hope Members will support this resolution. Thank you.
Ends/Thursday, June 14, 2007
Issued at HKT 15:20
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