Hong Kong Security Bureau Questions Proposed Debt Collection Regulations

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002414-hong-kong-security-bureau-questions-propo/

Hong Kong: The Law Reform Commission’s proposal to introduce a statutory licensing system to regulate debt collection may not be effective as delinquent operators are unlikely to come forward and licence their operations, the Security Bureau says.

Releasing the Government’s response to the commission’s Report on the Regulation of Debt Collection Practices published in July 2002, the bureau said the justifications set out in the report do not constitute a sufficient case to introduce such a regime as it will likely cover only prudent and ethical market operators who do not engage in abusive activities even in the absence of a licensing regime.

For this complete story please visit Debt collection proposals questioned.

Hong Kong Security Bureau Questions Proposed Debt Collection Regulations

Unknown Author

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