5 -
Comme
8. Companies Law
revision
密
CONFIDENTIAL **
Insurance
To carry out the recommendations of the Companies Law Revision Committee as accepted by the Government.
To rationalise
insurance legislation.
(i) Comments on public representations
have been forwarded to UMELCO for consideration.
(ii) ExCo gave approval in principle
for the Companies Ordinance to be amended to require directors, major shareholders (with 10% shareholdings or more) and professional advisers to disclose their holdings of and dealings in shares of the company. Draft drafting instructions have been prepared and sent to RG for comments. Thereafter the draft Bill will be considered by the Securities Commission.
Second draft of the Insurance Companies Bill considered by the insurance industry working group. Agreement
reached on a number of issues and unresolved ones will be highlighted in the ExCo memorandum.
To consult with the UMELCO Ad Hoc Group, which is now to be chaired by the Hon. S.L. Chen.
To finalise drafting instructions and to
seek approval for the se to be issued.
To finalise the Bill in the light of comments from the working group.
密
CONFIDENTIAL #
conomic Analysis Division
Economic
reports
To prepare quarterly reports on the economy.
Third Quarter Economic Report 1931 prepared, and considered by the Working Group on Developments in the Economy and the Economic Review Committee.
To publish Third Quarter) Economic Report 1981 in November and to prepare the 1982-83 Budget-Economic background.