MONDAY, APRIL 25, 1977
+THIS IS AN IMPORTANT OBJECTIVE IN ANY SOCIETY BUT -CNNG KONG, WHERE CROWDED LIVING AND WORKING CONDITIONS APE THE NORM, LIFE WOULD BE INTOLERABLE IF PEOPLE WERE NOT BROUGHT UP TO EXERCISE FORBEARANCE AND CONSIDERATION, IF THEY DID NOT THINK OF COMMUNITY AS WELL AS SELF.
*ALL THE VARIOUS SERVICES AIMED AT THIS END COMPRISE RAT E HAVE COME TO CALL COMMUNITY BUILDING, HE SAID.
RECENTLY THE RESPONSIBILITIES OF THE SECRETARY FOR HOME AFFAIRS HAD BEEN REARRANGED SO THAT HE WOULD BE RESPONSIBLE FOR SERVICES WHICH ACHIEVED COMMUNITY
· BUILDING, MR. BRAY ADDED.
PART VIII OF COMMODITIES TRADING ORDINANCE 1976
EFFECTIVE FROM WEDNESDAY
******
PART VII OF THE COMMODITIES TRADING ORDINANCE 1976, RICH DEALS WITH THE SETTING UP OF A COMPENSATION FUND EY THE EXCHANGE COMPANY, WILL BECOME OPERATIVE ON WEDNESDAY (APPIL 27).
UNDER THIS PART, THE EXCHANGE COMPANY WILL BE REQUIRED TO ESTABLISH A COMPENSATION FUND TO MEET CLAIMS OF CLIENTS 1. THE EVENT OF A DEFAULT COMMITTED BY THE SHAREHOLDERS.
THE EXCHANGE COMPANY WILL ALSO BE REQUIRED TO DEPOSIT AND AEEP DEPOSITED WITH THE COMMODITIES TRADING COMMISSION IN RESPECT OF EACH SHAREHOLDER AN AMOUNT OF 350,000 IN CASH CP 25,000 IN CASH AND A BANK GUARANTEE OF $25,000 IN
A FORM ACCEPTABLE TO THE COMMISSION.
THIS PART ALSC PRESCRIBES THAT THE TOTAL AMOUNT OF COMPENSATION THAT MAY BE PAID TO ANY PERSON SHALL NOT EXCEED
4,000,000 IN RESPECT OF EACH SHAREHOLDER.
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