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WEDNESDAY, JUNE 26, 1974
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THE PRINCIPLE WHICH GOVERNS THE RETENTION OF QUOTA, HE SAID, IS THAT THE QUOTA HOLDER SHALL FULLY UTILISE HIS QUOTA OR LOSE PART OR ALL OF IT, AND THAT ALSO SEEMED FAIR.
UNLESS THE DEMAND IN THE MARKET EXCEEDS THE QUOTA AVAILABLE IN A RESTRICTED CATEGORY, THE DEPARTMENT WOULD SEEK TO OPEN UP AS MUCH OF THE QUOTA AMOUNT AVAILABLE AS POSSIBLE TO ALL COMERS.
MR MCGREGOR STRESSED THAT THE SALE OF TEXTILE QUOTAS WAS LEGAL AND ENTIRELY NECESSARY. THE RECORDS OF THE COMMERCE AND INDUSTRY DEPARTMENT SHOVED THAT BETWEEN 20 AND 30 PER CENT OF THE TOTAL QUOTA HOLDING IN TEXTILES IS SUBJECT TO TRANSFER EACH YEAR. MOST OF THESE ARE TEMPORARY TRANSFERS AND THEY DEMONSTRATE THE GREAT NEED FOR FLEXIBILITY IN QUOTA UTILIZATION.
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NOTE TO EDITORS I
COPIES OF THE FULL TEXT OF MR MCGREGOR'S SPEECH WILL BE DISTRIBUTED THROUGH THE PRESS BOXES.
TALK ON MASS TRANSIT COMPLETED
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REPRESENTATIVES OF THE JAPANESE CONSORTIUM AND THE MASS TRANSIT RAILWAY PROVISIONAL AUTHORITY COMPLETED THIS AFTERNOON THEIR SECOND SERIES OF FORMAL DISCUSSIONS SINCE THE SIGNING OF THE LETTER OF INTENT IN FEBRUARY 1974.
DURING THE DISCUSSIONS BOTH SIDES REPORTED PROGRESS ON THE WORK NOW BEING UNDERTAKEN WITH A VIEW TO THE CONCLUSION OF A CONTRACT FOR THE CONSTRUCTION OF THE FIRST FOUR STAGES OF THE MASS TRANSIT RAILWAY.
THESE DISCUSSIONS INCLUDED A MOST USEFUL EXCHANGE OF INFORMATION AND VIEWS BETWEEN THE ENGINEERS FROM BOTH SIDES, AND IT WAS AGREED THAT THIS SHOULD BE FOLLOWED BY A FURTHER MEETING OF THIS GROUP IN EARLY AUGUST.
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WAS ALSO AGREED THAT THE NEXT PLENARY SESSION SHOULD BE HELD SEPTEMBER AND THAT SEPARATE MEETINGS OF SPECIALIST GROUPS WOULD BE CALLED AS AND WHEN NECESSARY IN THE INTERVENING PERIOD.
IN THE MEANTIME, THE TWO SIDES VILL CONTINUE TO KEEP IN CLOSE CONTACT THROUGH THE CONSORTIUM'S REPRESENTATIVES IN HONG KONG.
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