UNCLASSIFIED
111627
MDHIAN 2130
UNCLASSIFIED
FM HONG KONG
TELNO 0014
TO DESKBY 02070OZ FCO
MKC 100
RECEIVED IN REGISTE
- 6 JAN 1988
TOP COPY Q DIST.?
OF 02053OZ JANUARY
87
DESK OFFICER
INDEX
REC
PA
Action Taken
INFO DESKBY 04010OZ PEKING
MY THIRD IPT: STOCK EXCHANGE: INVESTIGATION BY ICAC
1.
TEXT OF GOVERNMENT PRESS RELEASE IS AS FOLLOWS:
1
IN THE LIGHT OF DEVELOPMENTS THIS MORNING, THE GOVERNMENT HAS PROPOSED TO THE COMMITTEE OF THE STOCK EXCHANGE THAT CERTAIN MEMBERS OF THE COMMITTEE SHOULD DISTANCE THEMSELVES FROM THE MANAGEMENT OF THE STOCK EXCHANGE UNTIL SUCH TIME AS THE ICACS INVESTIGATIONS
HAVE BEEN COMPLETED.
2. THE COMMITTEE OF THE STOCK EXCHANGE AT A MEETING HELD THIS MORNING VESTED ITS POWERS UNTIL FURTHER NOTICE IN A MANAGEMENT COMMITTEE OF THE EXCHANGE, WITH MR ROBERT FELL EXERCISING THE POWERS OF CHIEF EXECUTIVE UNDER THE CONSTITUTION OF THE EXCHANGE.
THE SECURITIES COMMISSION MET AT 11.15 THIS MORNING AND
SUPPORTS THE ACTION TAKEN BY THE STOCK EXCHANGE COMMITTEE.
3.
4.
EXCO MET THIS MORNING AND IS SATISFIED WITH THE ACTION TAKEN.
THE MARKET WILL BE OPEN FOR BUSINESS AS USUAL ON MONDAY
MORNING.
5.
WILSON
YYYY
ΜΑΙΝ
13
LIMITED
HD/HKD
PS
WNNN
DISTRIBUTION
13
PS/LORD GLENARTHUR
MR GILLMORE
MR MCLAREN
PAGE
1
UNCLASSIFIED
5