GOVT TO CONSULT PUBLIC ABOUT BANNING BEARER SHARES

2014/10/10

From：Macau Business

The government says it will solicit public opinion its intention to abolish bearer shares.

Law Reform and International Law Bureau vice-director Chou Kam Chon told a press conference that abolition was necessary to bring the law in Macau into line with the Organisation for Economic Cooperation and Development’s standards for the international exchange of tax information.

Mr Chou said the government would amend the law as soon as possible.

“If we fail, it would hurt Macau’s image as a city that is always in compliance with international standards,” he said. “It would also create a really negative impact on Macau’s economy.”

Copyright@Macau Business