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SPEECH BY THE HONOURABLE FINANCIAL SECRETARY IN LEGISLATIVE COUNCIL WEDNESDAY 10 FEBRUARY 1988
Companies Ordinance (Chapter 32) Companies (Amendment) Bill 1988
Committee Stage
Clauses 3 and 4
FINANCIAL SECRETARY:
Sir,
Clauses 3 and 4, the
I move the amendmentsyset out in the paper
circulated to Members.
ک
that
As Mr. POON mentioned in the debate on the Second Reading,
Written representations on a number of technical
points in the Bill have been received from the accountancy
profession and others. The amendments which I now move
Legislative Council have been examined and endorsed by the Lego Ad Hoc Group
set up to study this Bill. I am grateful to Mr. F.K. Hu and
-members of the Ad Hoc Group for their support.
Clause 3 of the Bill amends section 161B of the
Ordinance to provide a limited exemption to authorised
financial institutions from the requirement to give
particulars of loans to directors and others in the annual
accounts.