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satisfied me that a good balance has been struck, firstly between consumer protection and the privacy of competitive commercial operations, and secondly between the urgency of set standards and the reality that some financial organisations are unable to meet such criteria immediately.
Although the Administration has not accepted my proposal that there should be an annual publication of registered banks and deposit-taking companies, so that the consumer can check to see whether his choice is a sound one, I have been assured that there would be a convenient channel through which a consumer can check.
In welcoming this bill, being one of the most complex one I have been involved with, I would like to congratulate the Administration for their positive efforts in obtaining the views
On behalf of of those professional bodies chiefly affected. consumers I would also like to thank the convener of this group, Mr John Swaine, for his time and efforts spent on this bill. has been a pleasure working with him.
It
And lastly, it is so reassuring to know that once this Bill is enacted, we have Government to supervise the banks to ensure that they are safe, and for the banks in turn to supervise and manage our money for us, while we are all busy at our work making Hong Kong one of the best and most prosperous communities
in the world.
With these words, I support the bill before Council.