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Thursday, April 12, 1973
PROPOSAL TO TEMPORARILY SUSPEND PUBLIC ISSUES
The Securities Advisory Council today considered a proposal for a
temporary suspension of public issues for about one month due to the effect
the tremendous over-subscriptions were having on the distribution of available
liquidity within the banking system.
The proposal was fully considered by the Council at its meeting
this morning and, although it was not in favour of a complete suspension, it
had no objection for the time being to lengthening substantially the time
between public offers.
The Council this afternoon conveyed its views to the Financial Secretary
who accepted them.
The Commissioner for Securities subsequently met the Chairmen of
the four exchanges and informed them accordingly.
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