Junket organisers likely to be held accountable for illegal deposit taking; six weeks left before deadline to appoint six new concessionaires.
Legislative Assembly’s 2nd Standing Committee
Proposed bill includes safeguard stipulating banks must deposit equivalent value of convertible foreign currency with government before issuing currency.
Lawmaker Chan Chak Mo insists on workers’ rights in keeping with Labour Relations Law; new gaming bill due to go before legislature next month.
Committee chairman Chan Chak Mo says two more meetings required to go through nitty gritty of proposed new junket regulations.
Standing Committee will review terms at least twice more before agreeing final wording and penalties with government officials.
Proposals include increasing junket operators’ capital to MOP 10 million and up to five years’ imprisonment for illegal deposit taking; bill should pass by 15 August.
Lawmaker Andrew Chan Chak Mo says committee has finished its fine-tooth comb review of new gaming bill, final text expected by third week of April.
Lawmaker Andrew Chan Chak Mo says only one more meeting required before first review of new bill is completed.
Concessionaires’ contributions to city’s development will stay the same; chief executive will have final say in ‘major’ financial decisions.
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