Auction of traditional vehicle registration marks to be held on May 12

Vintage car enthusiasts rejoice: exclusive registration marks auction set for may 12

The Transport Department (TD) today (April 24) announced that the auction of traditional vehicle registration marks will be held on May 12 (Sunday) in Meeting Room N101, L1, New Wing, Hong Kong Convention and Exhibition Centre, Wan Chai.

"A total of 350 vehicle registration marks will be put up for public auction. The list of marks has been uploaded to the department's website, www.td.gov.hk/en/public_services/vehicle_registration_mark/index.html," a department spokesman said.

Applicants who have paid a deposit of $1,000 to reserve a mark for auction should also participate in the bidding (including the first bid at the reserve price of $1,000). Otherwise, the mark concerned may be sold to another bidder at the reserve price.

People who wish to participate in the bidding at the auction should take note of the following important points:

(1) Successful bidders are required to produce the following documents for completion of registration and payment procedures immediately after the successful bidding:

(i) the identity document of the successful bidder;

(ii) the identity document of the purchaser if it is different from the successful bidder;

(iii) a copy of the Certificate of Incorporation if the purchaser is a body corporate; and

(iv) a crossed cheque made payable to "The Government of the Hong Kong Special Administrative Region" or "The Government of the HKSAR". (For an auctioned mark paid for by cheque, the first three working days after the date of auction will be required for cheque clearance confirmation before processing of the application for mark assignment can be completed.) Successful bidders can also pay through the Easy Pay System (EPS). Payment by post-dated cheques, cash or other methods will not be accepted.

(2) Purchasers must make payment of the purchase price through EPS or by crossed cheque and complete the Memorandum of Sale of Registration Mark immediately after the bidding. Subsequent alteration of the particulars in the memorandum will not be permitted.

(3) A vehicle registration mark can only be assigned to a motor vehicle which is registered in the name of the purchaser. The Certificate of Incorporation must be produced immediately by the purchaser if a vehicle registration mark purchased is to be registered under the name of a body corporate.

(4) Special registration marks are non-transferable. Where the ownership of a motor vehicle with a special registration mark is transferred, the allocation of the special registration mark shall be cancelled.

(5) The purchaser shall, within 12 months after the date of auction, apply to the Commissioner for Transport for the registration mark to be assigned to a motor vehicle registered in the name of the purchaser. If the purchaser fails to assign the registration mark within 12 months, allocation of the mark will be cancelled and arranged for re-allocation in accordance with the statutory provision without prior notice to the purchaser.

For other auction details, please refer to the Guidance Notes - Auction of Traditional Vehicle Registration Marks, which can be downloaded from the department's website, www.td.gov.hk/en/public_services/vehicle_registration_mark/tvrm_auction/index.html.

Source: AI-generated images

Hong kong monetary authority unveils exciting pilot program for shenzhen-hong kong data validation platform

The following is issued on behalf of the Hong Kong Monetary Authority:

The Shenzhen and Hong Kong authorities announced today (May 6) the pilot launch of the Shenzhen-Hong Kong cross-boundary data validation platform. The platform utilises blockchain technology and data coding (i.e. hash values) for document verification without involving any cross-boundary transfer or storage of the original documents. The platform provides a credible means for validating the authenticity of the documents presented by the data owners.

The Hong Kong Monetary Authority (HKMA) has been working closely with Mainland authorities in facilitating the development of fintech innovation and cross-boundary data flow in both Guangdong and Hong Kong. All stakeholders are supportive of fintech adoption by financial institutions to promote cross-boundary data usage in an orderly and secure manner and in compliance with relevant regulatory requirements.

In recent months, the HKMA co-ordinated and facilitated the development and testing of the Shenzhen-Hong Kong cross-boundary data validation platform (Note) together with the Shenzhen MunicipalCyberspace Administration, the Hong Kong and Macao Affairs Office of the Shenzhen Municipal People's Government, Shenzhen Municipal Financial Regulatory Bureau, the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality, the Shenzhen Branch of the People's Bank of China, the Shenzhen Regulatory Bureau of National Financial Regulatory Administration.

During the first phase of implementation of the platform, pilot trials will be conducted with cross-boundary use cases in the financial sector, covering validation of credit referencing reports as well as account opening documents for corporate customers.

The HKMA will continue to work closely with the Mainland authorities, facilitating more banks to conduct pilot trials involving cross-boundary data validation in Shenzhen and Hong Kong, and enhancing industry engagement through the HKMA's Fintech Supervisory Sandbox, with a view to promoting safe cross-boundary data flow, and enhancing banks' operational efficiency and risk management.

Note: The platform is operated by China (Qianhai) Internet Exchange, Shenzhen Smart City and the Hong Kong Science and Technology Parks Corporation in Shenzhen and Hong Kong respectively, while WeBank Co., Ltd. provides research and technical support.

Source: AI-generated images