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FRIDAY, OCTOBER 12, 1979
IN EACH NET IS A COMPARABLE MIX OF DIFFERENT TYPES OF SECONDARY SCHOOLS PLACES IN TECHNICAL SCHOOLS, GOVERNMENT SECONDARY GRAMMAR SCHOOLS, AIDED SECONDARY GRAMMAR SCHOOLS, PRIVATE NON-PROF IT-MAKING SECONDARY GRAMMAR SCHOOLS,
AND PRIVATE INDEPENDENT SECONDARY GRAMMAR SCHOOLS. PRE- VOCATIONAL SCHOOLS, HOWEVER, ARE NOT LIMITED TO PARTICULAR NETS.
EACH PRIMARY SIX PUPIL HAS A CHOICE OF UP TO 30 SECONDARY SCHOOLS WITHIN HIS NET.
ALL THE PUPILS LISTED IN THE ORDER OF MERIT ARE THEN GROUPED INTO FIVE BANDS AND FED INTO A COMPUTER FOR ALLOCATION OF A PLACE IN A SECONDARY SCHOOL BASED ON PARENTAL CHOICE.
BILLS ON BANKS AND DEPOSIT-TAKING COMPANIES GAZETTED
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THE GOVERNMENT HAS PUBLISHED THE BANKING AMENDMENT)(NO. BILL 1979 AND THE DEPOSIT-TAKING COMPANIES (AMENDMENT)(NO. BILL 1979 IN THE GAZETTE TODAY (FRIDAY).
THE DEPOSIT-TAKING COMPANIES (AMENDMENT)(NO. 2) BILL IS DESIGNED TO IMPLEMENT A SYSTEM OF MINIMUM LIQUIDITY RATIOS TO BE OBSERVED BY REGISTERED DEPOSIT-TAKING COMPANIES.
THE BILL AMENDS THE SYSTEM WHICH WAS SET OUT IN THE DEPOSIT-TAKING COMPANIES (AMENDMENT) ORDINANCE 1978, BUT WHICH HAS NOT YET BEEN BROUGHT INTO FORCE.
A GOVERNMENT SPOKESMAN SAID TODAY THE NEW SYSTEM HAD BEEN DESIGNED AFTER A THOROUGH REVIEW OF THE MONTHLY STATISTICS WHICH THESE COMPANIES HAVE BEEN SUBMITTING TO THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES SINCE THE END OF 1978.
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+THE BASIC REQUIREMENT NOW PROPOSED IS THAT ALL DEPOSIT- TAKING COMPANIES SHOULD HOLD IN THE FORM OF SPECIFIED LIQUID ASSETS AN AMOUNT EQUIVALENT TO AT LEAST THE SUM OF 30 PER CENT OF THEIR SHORT TERM DEPOSIT LIABILITIES, AND 15 PER CENT OF THE IR OTHER DEPOSIT LIABILITIES. SHORT TERM LIABILITIES INCLUDE TIME DEPOSITS WHERE THE DEPOSITOR MAY OBTAIN EARLY REPAYMENT,+ THE SPOKESMAN SAID.
HE EXPLAINED THAT THE ACTUAL PERCENTAGES OF 30 AND 15 ARE NOT SET OUT IN THE BILL THEY ARE THE PERCENTAGES WHICH WILL PROBABLY BE SPECIFIED BY THE FINANCIAL SECRETARY, UNDER POWERS GIVEN IN THE BILL, AS SOON AS THE BILL COMES INTO FORCE. THEY CAN BE VARIED AT ANY TIME THEREAFTER,
THE BANKING (AMENDMENT)(NO. 2) BILL PROVIDES THAT SHORT TERM BALANCES HELD BY BANKS WITH DEPOSIT-TAKING COMPANIES WILL NOW BE SPECIFIED LIQUID ASSETS FOR BANKS, JUST AS THE BALANCES DEPOSIT-TAKING COMPANIES HOLD WITH BANKS ARE ALREADY SPECIFIED LIQUID ASSETS FOR THOSE COMPANIES. UNDER PROVISIONS OF THE DEPOSIT-TAKING COMPANIES ORDINANCE NOT YET IN FORCE.
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