WEDNESDAY, NOVEMBER 23, 1977
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SUPPLEMENTARY PROVISION FOR FIRST QUARTER OF
THIS FINANCIAL YEAR
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THE HON. FINANCIAL SECRETARY, MR. PHILIP HADDON-CAVE, SAID TODAY THE SUPPLEMENTARY PROVISION FOR THE FIRST QUARTER OF FINANCIAL YEAR 1977/78 ENDING AT JUNE 30 AMOUNTED TO ABOUT $180 MILLION,
MOVING THE SCHEDULE FOR THE SUPPLEMENTARY PROVISION IN THE LEGISLATIVE COUNCIL MR. HADDON-CAVE SAID OF THE SUM, THE PUBLIC WORKS NON-RECURRENT EXPENDITURE ACCOUNTED FOR $153.4 MILLION AS A RESULT OF MORE RAPID PROGRESS ON A NUMBER OF EXISTING PROJECTS AND THE UPGRADING OF 13 PROJECTS TO CATEGORY A OF THE PUBLIC WORKS PROGRAMME.
HOWEVER HE NOTED THAT THE PROVISION COVERED BY THE SCHEDULE WOULD NOT RESULT IN A NET INCREASE OF EXPENDITURE FOR THE YEAR AS IT WOULD BE OFFSET BY SAVINGS IN OTHER SUBHEADS OF EXPENDITURE, OR BY FREEZING OF FUNDS FOR ADDITIONAL COMMITMENTS UNDER THE MISCELLANEOUS SERVICES SUBHEAD.
BILL TO AMEND COMPANIES ORDINANCE
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A BILL TO PROVIDE FOR LIMITED COMPANIES ALREADY ESTABLISHED TO DISPENSE WITH LIMITED AFTER INCORPORATION HAS BEEN DRAFTED, THE SECRETARY FOR ECONOMIC SERVICES, THE HON. DAVID JEAFFRESON TOLD THE LEGISLATIVE COUNCIL TODAY.
REPLYING TO A QUESTION FROM UNOFFICIAL MEMBER, THE HON. LI FOOK-WO, MR. JEAFFRESON SAID A BILL WHICH INCLUDES PROVISIONS TO BRING INTO EFFECT THE RECOMMENDATIONS ON THIS ISSUE IN THE SECOND REPORT OF THE COMPANIES LAW REVISION COMMITTEE WILL BE PUT TO THE EXECUTIVE COUNCIL SHORTLY.
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