'No Cumulative Fines For Shop Extensions – Yet'
"); jQuery("#212 h3").html("

"); });
2022-12-17 HKT 12:44
Deputy Chief Secretary Warner Cheuk said on Saturday that the proposed raising of penalties for littering and illegal shop extensions may come into effect in mid-2023.
The government has proposed doubling the fine for littering to HK$3,000 and raising penalties for illegal shop extensions and depositing construction waste unlawfully from HK$1,500 to HK$6,000.
Speaking on a radio programme, Cheuk said the penalties for illegal shop extensions are not cumulative, in the sense that they become higher for repeat offences, but that he believed the higher penalties would help to improve the situation.
"Our current proposal of fining HK$6,000 for each contravention of those offences carries some deterrent effect," he told reporters. "If they repeat the offence on the same day, they can get not just one fixed penalty, but several fixed penalties, so the cost of non-compliance can be very high."
Cheuk said officials may consider setting up a cumulative penalty system for illegal shop extensions in the future, but that it would require a data system which may need more time and cost to execute.
He added that the situation had already improved after officers strengthened law enforcement.
Meanwhile, Cheuk said the authorities would continue to monitor other environmental issues as well, and give out fines for failing to control mice and cockroaches.
EDENA Unveils AI System To Automate Sovereign Asset Settlement
At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more
Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls
Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more
Japans PayPay Files For US IPO, Targets Valuation Above US$10B
SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more
Inference Research Launches In Hong Kong With US$20M Seed Funding
Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more
London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion
London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more
SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership
SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more