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TUESDAY, JANUARY 24, 1984
AMENDMENTS BEING MADE TO BILL
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A NUMBER OF AMENDMENTS TO THE COMPANIES (AMENDMENT) BILL 1983 WILL BE MOVED BY UNOFFICIAL MEMBERS AND THE SECRETARY FOR ECONOMIC SERVICES AT THE COMMITTEE STAGE IN THE LEGISLATIVE COUNCIL TOMORROW.
PRIOR TO THE COMMITTEE STAGE AND THIRD READING, DEBATE WILL RESUME ON THE BILL, AND ON THE DANGEROUS DRUGS (AMENDMENT) BILL 1984, WHICH CLOSES A LOOPHOLE IN THE DANGEROUS DRUGS ORDINANCE RELATING TO DRUGS IN TRANSIT THROUGH HONG KONG.
MAJOR AMENDMENTS TO THE COMPANIES ORDINANCE ARE PROPOSED IN THE BILL, WHICH WAS INTRODUCED IN THE LEGISLATIVE COUNCIL ON MARCH 9, 1983.
THE PURPOSE IS TO UPDATE AND RATIONALISE COMPANY LAW IN HONG KONG, TAKING INTO ACCOUNT BOTH DEVELOPMENTS IN BRITAIN AND ELSEWHERE AND LOCAL CIRCUMSTANCES AND NEEDS.
THE BILL SEEKS TO BRING ABOUT BETTER PROTECTION OF SHAREHOLDERS AND OTHERS DEALING WITH COMPANIES, WITHOUT AT THE SAME TIME IMPOSING UNNECESSARY RESTRAINTS ON BONA FIDE COMMERCIAL BUSINESS.
IT INTRODUCES AMENDMENTS TO VIRTUALLY ALL PARTS OF THE PRINCIPAL ORDINANCE, COVERING AREAS SUCH AS THE INCORPORATION OF COMPANIES, SHARE CAPITAL AND DEBENTURES, REGISTRATION OF CHARGES, MANAGEMENTS AND WINDING UP.
FOUR OTHER BILLS WILL BE INTRODUCED AND READ A SECOND TIME, AND DEBATE ON THEM WILL BE ADJOURNED TO FEBRUARY 15. THEY ARE THE
* PUBLIC FINANCE (AMENDMENT) BILL 1984, CONTAINING TWO
PROPOSALS TO STREAMLINE THE GOVERNMENT'S FINANCIAL PROCEDURES,
* RATING (AMENDMENT) BILL 1984, INCLUDING PROPOSALS TO
EXTEND RELIEF PROVISIONS TO ALL PREMISES,
* MAGISTRATES (AMENDMENT) BILL 1984, INTRODUCING NEW
PROCEDURES TO IMPROVE THE WAY MINOR OFFENCES ARE DEALT WITH, AND
* MEDICAL (REGISTRATION) AMENDMENT BILL 1984, TO FACILITATE
REGISTRATION OF DOCTORS.
IN ADDITION, 11 QUESTIONS WILL BE ASKED BY UNOFFICIAL MEMBERS, DEALING WITH SUCH MATTERS AS THE CRITERIA USED IN CONTROL OF THE SALE OF OBJECTIONABLE ARTICLES, WATER SUPPLY TO SQUATTER AREAS, POSSIBLE NUCLEAR POWER HEALTH HAZARDS, POLICE FORCE ACTION IN THE DISTURBANCES ON JANUARY 13, AND ILLEGAL HAWKING MEASURES.
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