Sir,
UMELCO
DRAFT SPEECH BY HON STEPHEN CHEONG, OBE,
LEGISLATIVE COUNCIL 28.5.1986
Banking Bill 1986
JP
In rising to support the motion, please allow me first
--
to declare an interest as a non-executive director of a locally
incorporated bank; namely the Wing On Bank. Secondly, I would
like to applaud the Administration's determination and hard work
in successfully putting this Bill for our consideration this
afternoon.
It is certainly no mean feat to have been able to
prepare a well drafted major piece of important legislation on the
one hand, whilst having to direct attentions towards sorting
through the maze of problems within the banking sector on the
other. Time was also a major constraint as leaders of our
responsible Administration naturally wish to correct as much
anomalies as possible and in as short a time frame as possible.
Given the circumstances and the final performance, the efforts of
the Administration is certainly worthy of our praise and respect.
Perhaps possible critics of the Administration ought to delve
deeper into considering and understanding all aspects of the
problems associated with the issues and be more objective in their
assessments before making a big song and dance to the gallery.
Sir, I have always harboured the conviction that as a
member of this Council, one should always look at the macro
interest of Hong Kong as the number one priority. It is with that
UMELCO