RUBBER ESTATES (SURCHARGE ON ASSESSMENT) (AMENDMENT) BILL

Order for Second Reading read.

5.54 p.m.

The Parliamentary Secretary to the Minister for Finance (Mr Low Por Tuck): Mr Speaker, Sir, I beg to move, "That the Bill be now read a Second time."

Sir, the object of this Bill is to transfer the power to levy a surcharge on rubber estates under the Rubber Estates (Surcharge on Assessment) Ordinance from the Rural Board to the Minister. The Bill also seeks to increase the maximum rate of the surcharge leviable on large rubber holdings from one-half of one cent per pound of dry rubber to one cent per pound of dry rubber.

Sir, the Rubber Estates (Surcharge on Assessment) Ordinance (Cap. 169) provides for the levy by the Rural Board of a surcharge on rates assessed on rubber estates under the Rubber Estates Assessment Ordinance (Cap. 168) and for such surcharge to be credited to the Malayan Rubber Fund. In view of the integration of the Rural Board with the Central Government, it is now proposed to transfer the powers conferred on the Board under the Rubber Estates (Surcharge on Assessment) Ordinance to the Minister.

At present, the Ordinance provides that the rate of surcharge on rubber holdings shall not exceed one-half of one cent per pound of dry rubber. It is proposed to raise this maximum rate of the surcharge to one cent per pound of dry rubber to allow for greater flexibility. In this connection, I wish to point out that the present research cess imposed by the Federation is 0.75 cents per pound of dry rubber which is higher than the maximum rate of surcharge at present leviable under the Singapore Ordinance.

Sir, I beg to move.

Question put, and agreed to.

Bill accordingly read a Second time and committed to a Committee of the whole Assembly.

Assembly immediately resolved itself into a Committee on the Bill. -[Mr Low Por Tuck].

Bill considered in Committee; reported without amendment; read a Third time and passed.