WEDNESDAY, MARCH 30, 1977
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REFERRING TO THE SECURITIES COMMISSION, MR. BREMRIDGE SAID HE WAS PLEASED TO SEE THAT THE STAFF OF THE OFFICE OF THE COMMISSIONER OF SECURITIES WAS TO INCREASE FROM 21 TO 31, BUT WAS DISAPPOINTED TO FIND THAT 19 OF THEM WERE NON-EXECUTIVES.
DEALERROAU
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HE BELIEVED THAT THERE SHOULD BE MORE THAN 12 OFFICERS ACTUALLY ENGAGED IN THIS IMPORTANT FIELD IN VIEW OF THE LARGE AND GROWING FINANCIAL IMPORTANCE OF HONG KONG, THE ENORMOUS TURNOVER OF THE FOUR STOCK EXCHANGES, AND THE NEED FOR HIGHER STANDARDS.+
WHILE APPRECIATING THAT RECRUITING IS UNDOUBTEDLY DIFFICULT, HE ASKED FOR AN ASSURANCE THAT THE INCREASE IN ESTABLISHMENT WOULD CONTINUE.
ON TAXATION, MR. BREMRIDGE SAID THAT AS HE HAD STATED IN HIS SPEECH DURING LAST YEAR'S BUDGET DEBATE, THE INLAND REVENUE ORDINANCE REVIEW COMMITTEE DID NOT ACCEPT THE VIEWS OF THE FINANCIAL SECRETARY ON DIVIDEND WITHHOLDING TAX, UNDISTRIBUTED PROFITS TAX, AND ACCOMPANYING ESOTERICA,
+I AM DELIGHTED TO ACKNOWLEDGE THE GRACE AND GOOD HUMOUR WITH WHICH THIS REVERSAL HAS, AT ANY RATE, APPARENTLY BEEN TAKEN. IT IS, I AM SURE, A WISE DECISION. THERE IS MUCH VIRTUE IN SIMPLICITY,+ HE SAID.
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