Cooling Off Proposals Leave Lawmakers Cold
"); jQuery("#212 h3").html("
"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "http://newsstatic.rthk.hk/audios/mfile_1440364_1_20190128190744.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'http://news.rthk.hk/rthk/en/component/k2/1440364-20190128.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','http://news.rthk.hk/rthk/en/component/k2/1440364-20190128.htm', 'DCS.dcsqry', '' ); } } }); }); });
2019-01-28 HKT 19:07
Share this story
Lawmakers on Monday questioned the effectiveness of a proposal to introduce a mandatory cooling-off period for beauty and fitness sector purchases.
A three-month public consultation on the issue is currently under way.
Under the plan, the cooling-off period would only apply to contracts signed for beauty or fitness services, involving a pre-payment of HK$3,000 or more.
But lawmakers at a Legco economic development panel meeting questioned whether the proposal would be effective in tackling unfair trade practices.
The Federation of Trade Unions' Alice Mak and the Democratic Party's Andrew Wan both pointed out that the proposal does not cover online transactions, or businesses like timeshare sales.
But in reply, Commerce and Economic Development Secretary Edward Yau said he believes the HK$3,000 threshold is reasonable, as the amounts involved in complaints in the past support this.
He said the decision to focus on the beauty and fitness industries was because these were the two sectors which have generated the most complaints.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more