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THURSDAY, DECEMBER 9, 1982
HE SAID WHILE THIS SYSTEM COULD GO A LONG WAY TOWARDS ENSURING A SAFE AND SOUND BANKING AND DEPOSIT-TAKING COMPANY SECTOR, NO AMOUNT OF SUPERVISION COULD ABSOLUTELY PREVENT AN INDIVIDUAL INSTITUTION FROM GETTING INTO FINANCIAL DIFFICULTIES OR BREAKING THE LAW. THE SYSTEM WAS ALSO NOT DESIGNED TO GUARANTEE THE REPAYMENT OF ALL AMOUNTS DUE TO DEPOSITORS AND CREDITORS IN THE EVENT OF SUCH DIFFICULTIES.
*YET THERE ARE ALWAYS PEOPLE WHO SEEM UNWILLING TO ACCEPT THESE PRINCIPLES. THE FACTS ARE THAT THE BANKER BANKS AND THE SUPERVISOR SUPERVISES AND THERE IS NO WAY IT COULD BE OTHERWISE. IT IS NOT UNLIKELY THAT YOU WILL READ IN THE NEXT FEW WEEKS, IF YOU HAVE NOT
IT IS ALREADY DONE SO, OF BRICK-BATS BEING HURLED IN MY DIRECTION. HUMAN NATURE TO LOOK FOR SOMEONE TO BLAME WHEN THINGS GO A BIT WRONG AND THIS IS PRECISELY WHAT HAS HAPPENED, THINGS HAVE GONE A BIT WRONG: BUT OUR BANKING AND DEPOSIT-TAKING COMPANY SECTOR AS A WHOLE REMAINS SOUNDLY BASED AND WELL-MANAGED AND QUITE CAPABLE OF MEETING THE DEMANDS OF THE TIMES,+
MR MARTIN ALSO COMMENTED ON THE UNDESIRABLE PRACTICE OF CERTAIN LOCALLY INCORPORATED FINANCIAL INSTITUTIONS AGREEING WITH THE IR DEPOSITORS TO VARY THE TERMS OF THEIR TIME DEPOSITS TO ALLOW EARLY REPAYMENT.
REGISTERED DEPOSIT-TAKING COMPANIES ARE PREVENTED BY LAW FROM REPAYING DEPOSITS WITHIN A PERIOD OF LESS THAN THREE MONTHS WHERE SUCH DEPOSITS WERE ORIGINALLY ACCEPTED FOR PERIODS OF THREE MONTHS OR MORE. THIS PROVISION WAS INSERTED TO LIMIT THE REGISTERED DEPOSIT-TAKING COMPANIES' ABILITY TO ACCEPT SHORT-TERM DEPOSITS. BUT HAS THE EFFECT OF GOING SOME WAY TOWARDS PREVENTING THE BREAKING OF TIME DEPOSITS.
+THE CHOICE OF THE TERM OF DEPOSIT IS IN THE HANDS OF THE DEPOSITOR WHEN HE PLACES HIS MONEY WITH A BANK OR DEPOSIT- TAKING COMPANY AND HE NEEDS TO LEARN TO LIVE WITH THAT CHOICE, HE SAID.
+PROVIDED OUR FINANICAL INSTITUTIONS ACT RESPONSIBLY IN THE IR APPROACH TO THIS MATTER, AND I AM CONFIDENT THEY WILL, I SEE NO NEED TO RECOMMEND A TOTAL PROHIBITION BY LAW.+
HONG KONG COMICS OF VIOLENCE
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COMICS SHOWING VIOLENCE ARE ACCEPTABLE IN SOME CIRCUMSTANCES IN HONG KONG SOCIETY AND ARE ALLOWED UNDER THE LAW, THE PRINCIPAL ASSISTANT SECRETARY FOR HOME AFFAIRS, DR PATRICK HASE TOLD A MEETING OF THE Y'S MEN'S CLUB OF HONG KONG TODAY.
+TO BE ACCEPTABLE, VIOLENCE MUST BE OF HONEST MEN IN EXTREME SITUATIONS DEFENDING THEIR FAMILY, PRINCIPLES, FRIENDS, SOCIETY OR NATION EMPHATICALLY THE VIOLENCE MUST NEITHER BE SEXUALLY BASED NOR EXCESSIVE IN CHARACTER,+ HE EXPLAINED.
/HE POINTED