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.
Hong Kong Fund Industry May Double With Tokenised Finance And 24/7 Trading Access
Hong Kong could potentially double the size of its fund industry by moving from legacy infrastructure to token-based fi... Read more
HKMA Alerts Public To Scam Website And Login Screens Posing As Official Site
The Hong Kong Monetary Authority (HKMA) has issued a public alert regarding a fraudulent website and online login scree... Read more
Hong Kong Fintech Promotion Blueprint Indicates 4 Incoming Flagship Projects
The Hong Kong Monetary Authority (HKMA) released the Hong Kong Fintech Promotion Blueprint on 3 February 2025, which sh... Read more
Visa To Enable Cross-Border Payments To 95% Of UnionPay Cardholders In China
At Web Summit Qatar, Visa and UnionPay International (UPI) announced an agreement to enable cross-border money transfer... Read more
HKMA Launches Fintech Blueprint With AI, DLT, Quantum And Cybersecurity Focus
The Hong Kong Monetary Authority (HKMA) published a Fintech Promotion Blueprint to support responsible innovation and f... Read more
How Gaming Giants Are Redefining The Experience Of Paying
Gaming isn’t just a hobby; it’s a global infrastructure challenge. In this episode Vincent Fong (Chief Editor, Fint... Read more