Contents of Section

Chapter:

73A PDFTitle:INTESTATE SUCCESSION (RECKONING OF CAPITAL VALUE)Gazette Number:
Section:2Heading:InterpretationVersion Date:30/06/1997

(1) In this Notice-
"election date" (選擇日期) means the date on which the election is exercised as mentioned in section 3(1);
"Monetary Authority" (金融管理專員) means the Monetary Authority appointed under section 5A of the Exchange Fund Ordinance (Cap 66);
"Notes" (債券) means the Exchange Fund Notes with a maturity of 5 years issued by the Government for the account of the Exchange Fund under the Exchange Fund Ordinance (Cap 66);
"Rate" (息率) means-

        (a) in the case of the election date being a business day, the yield of the Notes at the election date as quoted by the Monetary Authority for publication by the Information Services Department;
        (b) in the case of the election date not being a business day, the average of-
          (i) the yield of the Notes at the date of the last business day before the election date as quoted by the Monetary Authority for publication by the Information Services Department; and
          (ii) the yield of the Notes at the date of the next business day following the election date as quoted by the Monetary Authority for publication by the Information Services Department.
(2) For the purpose of subsection (1), a day is a business day if the yield of the Notes at the date of that day is quoted by the Monetary Authority for publication by the Information Services Department.
(Enacted 1995)