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News Forum |
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Debt Collection Regulations Rejected Source: South China Moring Post, September 10 2005 |
Hong Kong - Law Reform Commission recommended rules on harassment, data sharing, but Security Bureau says it sees no need
The government has rejected recommendations by the Law Reform Commission to regulate debt collection agencies, three years after they were made. The Security Bureau yesterday issued a report responding to the commission's recommendations to create a criminal offence of harassment of debtors, to institute a statutory licensing scheme for debt collectors and agencies, and to regulate the sharing of consumer credit data. The bureau claimed existing legislative provisions were sufficient to combat 'most of the undesirable debt collection activities', citing criminal sanctions against intimidation, assault, blackmail and letters threatening murder. |