MONDAY, SEPTEMBER 3, 1983
*A STRONG MANDATE FROM THE PEOPLE, MANIFESTED IN THE NUMBER OF VOTES A DISTRICT BOARD MEMBER GETS AT THE ELECTIONS, WILL NOT ONLY INCREASE HIS OR HER PERSONAL CONFIDENCE AND AUTHORITY, BUT ALSO ENHANCE THE GENERAL PUBLIC'S CONFIDENCE IN THE DISTRICT BOARD AS A WHOLE.+
THE GOVERNOR CONGRATULATED THE 229 CANDIDATES, WHO WILL STAND FOR THE ELECTIONS NEXT WEEK, ON THEIR WILLINGNESS TO SERVE THEIR COMMUNITIES.
HE ALSO THANKED THE REGIONAL SECRETARY FOR HONG KONG AND KOWLOON, MR GRAHAM BARNES, AND HIS STAFF AND MANY OTHERS FOR THEIR HARD WORK IN PREPARING THE COMING ELECTIONS.
+1 AM CONVINCED THAT THE ELECTIONS WILL BE A GREAT SUCCESS,- HE SAID.
+
BANK LICENSING POLICY ***
THE GOVERNOR IN COUNCIL HAS CARRIED OUT THE FIRST ANNUAL REVIEW OF THE CRITERIA RELATING TO THE SIZE OF ASSETS AND DEPOSITS, WHICH NEED TO BE SATISFIED BEFORE APPLICATIONS FOR BANKING LICENCES, UNDER THE BANKING ORDINANCE (CHAPTER 155), WILL BE CONSIDERED BY THE COUNCIL.
PROVISION FOR THIS ANNUAL REVIEW WAS MADE BY THE FINANCIAL SECRETARY IN HIS SPEECH TO THE LEGISLATIVE COUNCIL ON MAY 27, 1981.
THE REVISED CRITERIA ARE AS FOLLOWS:-
(1) FOR BANKS INCORPORATED OUTSIDE HONG KONG, TOTAL ASSETS
(NET OF CONTRA ITEMS) SHOULD EXCEED US$12 000 MILLION (PREVIOUSLY US$10 000 MILLION);
(11) FOR COMPANIES INCORPORATED IN HONG KONG:-
(A) TOTAL ASSETS (NET OF CONTRA ITEMS) SHOULD EXCEED
HK$2 500 MILLION (PREVIOUSLY HK$2 000 MILLION),
(B) DEPOSITS FROM THE PUBLIC (THAT IS, OTHER THAN FROM BANKS, OTHER DEPOSIT-TAKING COMPANIES OR CONNECTED PARTIES) SHOULD EXCEED HK$1 750 MILLION (PREVIOUSLY HK$1 500 MILLION).
A GOVERNMENT SPOKESMAN CONFIRMED THAT THE OTHER CRITERIA ANNOUNCED BY THE FINANCIAL SECRETARY ON MAY 27, 1981 REMAINED IN FORCE.
HE FURTHER EXPLAINED THAT THESE VARIOUS CRITERIA WERE MERELY THOSE WHICH WOULD NEED TO BE SATISFIED BEFORE THE GOVERNOR IN COUNCIL WOULD CONSIDER APPLICATIONS.
THE GOVERNOR IN COUNCIL RETAINED COMPLETE DISCRETION OVER THE GRANTING OF BANK LICENCES, IN ACCORDANCE WITH PART 1 OF THE
BANKING ORDINANCE, HE SAID.