39
form
B.
C.
Sub-section (8) Delete the words "from"
"promote" and "subsidise" in the first line.
Sub-section (12) Omit altogether.
The amendment of Regulation 3 sub-section (4)
offered by the Bank is not regarded as
satisfactory:
the necessity for retaining
this sub-section is questioned in view of the
terms of sub-sections (6) and (11) which
largely cover the same ground: and it is
proposed that sub-section (4) be deleted and,
if necessary, sub-section (6) adapted on the
lines suggested in the Board's letter.
The following further amendments are proposed: -
(a) It is suggested that the powers sought
in sub-sections (13) and (14) of Regulation 3
are not necessary to the effective carrying
He
out of business of the Bank and may not be
A
desirable in view of the special relations
existing between the Bank and the Government
of Hong Kong.
(b) Delete the words in sub-section (18) of
Regulation 3 from "or for enlarging the
powers" to the end.
(c)