THURSDAY, MARCH 4, 1976
IN THE PAST WHENEVER WE HAVE MOUNTED AN INVESTIGATION OF
THE EXTENT TO WHICH PEOPLE ARE JUST SELLING QUOTA WHEN THEY ARE NO LONGER IN BUSINESS AT ALL FOUND THAT THE PERCENTAGE, THE
JUST SELLING IT - WE'VE ALWAYS PROPORTION, OF QUOTA THAT'S
BEING DEALT WITH IN THIS WAY IS ALWAYS VERY SMALL.
HE ADDED: +OVER THE YEARS MOST OF THE QUOTA HAS BEEN USED
TO EXPORT BY THE MANUFACTURERS AND EXPORTERS TO WHOM IT'S
BEEN ISSUED. QUITE A LOT GETS TRANSFERRED, BUT IT GETS TRANSFERRED TO OTHER PEOPLE WHO MANUFACTURE AND EXPORT.+
REGISTRATION OF DEPOSIT-TAKING COMPANIES
******
THE COMMISSIONER OF BANKING TODAY DREW ATTENTION TO LAST FRIDAY'S GAZETTE IN WHICH IT WAS NOTIFIED THAT THE GOVERNOR HAS APPOINTED APRIL 1, 1976 AS THE DAY ON WHICH THE DEPOSIT-TAKING COMPANIES ORDINANCE 1976 SHALL COME INTO OPERATION. THE ORDINANCE ITSELF WAS PUBLISHED WITH THE GAZETTE OF JANUARY 9 THIS YEAR.
APPLICATION FORMS ON WHICH COMPANIES MAY APPLY FOR REGISTRATION AS DEPOSIT-TAKING COMPANIES ARE NOW AVAILABLE FROM THE RECEPTIONIST OF THE BANKING COMMISSION AT 1604 HANG CHONG BUILDING, 5 QUEEN'S ROAD CENTRAL.
ADVICE ON THEIR COMPLETION MAY BE OBTAINED FROM MR. WINSTON KWONG AT TELEPHONE NUMBER 5-263261. APPLICATIONS SHOULD BE DATED NOT EARLIER THAN APRIL 1 AND SHOULD BE SUBMITTED TO THE COMMISSIONER OF BANKING ON OR AFTER THAT DATE.
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