13
WEDNESDAY, OCTOBER 5, 1983
HE EXPRESSED THE HOPE THAT THE COMPANIES (AMENDMENT) BILL, WHICH SEEKS TO MODERNISE HONG KONG'S COMPANY LAW, WOULD BE ENACTED WITHIN THE 1983-84 SESSION OF THE COUNCIL,
+
AFTER THE PASSAGE OF THIS BILL, A STANDING COMMITTEE ON COMPANY LAW REFORM, AS RECOMMENDED BY THE COMPANIES LAW REVISION COMMITTEE, WOULD BE APPOINTED, SIR EDWARD REPORTED.
THE COMMITTEE WOULD BE CHARGED WITH KEEPING UNDER REVIEW NOT ONLY THE COMPANIES ORDINANCE, BUT ALSO THE SECURITIES ORDINANCE AND THE PROTECTION OF INVESTORS ORDINANCE, AND WITH MAKING RECOMMENDATIONS TO THE GOVERNMENT, HE POINTED OUT.
PROPOSALS TO AMEND THE ORDINANCES GOVERNING BANKS AND DEPOSIT-TAKING COMPANIES SHOULD BECOME LAW BY THE END OF THE YEAR AND THE CHANGES SHOULD GIVE BETTER PROTECTION TO DEPOSITORS AND INVESTORS, SIR EDWARD SAID.
ON CONSUMER PROTECTION, HE SAID MUCH HAD BEEN ACHIEVED BY THE CONSUMER COUNCIL THROUGH THE DISSEMINATION OF INFORMATION AND ADVICE, AND THE INVESTIGATION OF COMPLAINTS, AND BY ENCOURAGING BUSINESS AND PROFESSIONAL BODIES TO ESTABLISH CODES OF PRACTICE.
+WHERE, HOWEVER, THESE MEASURES PROVE INADEQUATE, AND CONSUMERS ARE UNABLE TO PROTECT THEMSELVES, THE GOVERNMENT WILL, WHERE APPROPRIATE, INTERVENE TO IMPROVE THE PROTECTION OF THEIR INTERESTS,+ HE SAID.
TO GIVE THE TRAVELLING PUBLIC SOME DEGREE OF PROTECTION, LEGISLATION WAS BEING DRAFTED TO PROVIDE FOR THE CONTROL AND REGULATION OF THE OUTBOUND TRAVEL BUSINESS THROUGH REGISTRATION AND LICENSING, SIR EDWARD SAID.
A BILL WAS ALSO BEING DRAFTED TO PROVIDE A STATUTORY FRAMEWORK FOR HIRE PURCHASE TRANSACTIONS, WITH THE AIM OF PREVENTING A VENDOR FROM IMPOSING UNDULY ONEROUS CONDITIONS ON A PURCHASER, HE ADDED.
NEW ROADS BEING CONSIDERED
*****
THE GOVERNMENT IS STUDYING THE POSSIBILITY OF A NEW ROAD THROUGH TAI MO SHAN LINKING NORTHWEST NEW TERRITORIES WITH TSUEN WAN. AND ANOTHER NEW ROAD THROUGH LION ROCK OR TAI MO SHAN LINKING NORTHEAST NEW TERRITORIES WITH KOWLOON, THE GOVERNOR, SIR EDWARD YOUDE, SAID THIS (WEDNESDAY) AFTERNOON.
ELABORATING ON HONG KONG'S LONG-TERM DEVELOPMENT STRATEGY, SIR EDWARD SAID THE COST AND FEASIBILITY OF THE SUPPORTING INFRASTRUCTURE WOULD BE MAJOR FACTORS IN THE CHOICE OF STRATEGY.
HE SAID AT THE LEGISLATIVE COUNCIL THAT NEW ROADS WERE BEING PLANNED TO SERVE JUNK BAY AND MA ON SHAN, WHICH REPRESENTED POSSIBLE COMPONENTS OF THE FIRST STAGE OF THE STRATEGY.
/SIR EDWARD