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WEDNESDAY, JULY 30, 1975
+I CAN FURTHER ASSURE THEM THAT IT WOULD BE THE GOVERNMENT'S FIRM INTENTION TO ENSURE THAT THE EXCHANGE WOULD BE REQUIRED TO EXERCISE PROPER DISCIPLINE OVER ITS MEMBERS AND WOULD APPLY ADEQUATE SANCTIONS WHENEVER THE RULES OF THE EXCHANGE OR THE PROVISIONS OF THE LEGISLATION WERE NOT OBSERVED,+ HE SAID,
NEITHER NEED THERE BE ANY DOUDTS ABOUT THE GOVERNMENT'S INTENTIONS OF ENFORCING THE LEGISLATION, HE ADDED.
THE GOVERNMENT WAS CONFIDENT, HE SAID, THAT ADEQUATE LEGISLATION COULD BE DEVISED, HAVING REGARD TO THE FACT THAT REGULATORY REGULATIONS WOULD BE INTRODUCED IN ADVANCE OF THE ESTABLISH- MENT OF AN EXCHANGE. THIS WOULD ALSO ENABLE HONG KONG TO DRAW ON EXPERIENCE ELSEWHERE IN DRAFTING THE LEGISLATION,
+IN THESE CIRCUMSTANCES. THEREFORE I CAN SEE NO REASON WHY WE SHOULD DEPRIVE OURSELVES OF THIS ADDITION TO THE RANGE OF FACILITIES AVAILABLE IN OUR EMERGING FINANCIAL SECTOR,+ HE SAID.
+WHATEVER DOUBTS SOME HOLD ABOUT THE ECONOMIC BENEFITS OF THE ESTABLISHMENT OF A COMMODITY EXCHANGE HERE, OTHERS APPEAR CONVINCED THAT HONG KONG SHOULD NOT, UNCHARACTERISTICALLY, TURN AWAY FROM WHAT THEY REGARD AS A LOGICAL DEVELOPMENT.
+THE GOVERNMENT SHARES THIS LATTER VIEW, PROVIDED THE INTEREST IN ALL ITS ASPECTS IS PROTECTED,+ MR. HADDON-CAVE SAID.
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