WEDNESDAY, OCTOBER 10, 1984
15
WIDER ELECTION CHOICE SOUGHT
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THE MAIN PURPOSE OF THE SCHOOL MEDICAL SERVICE BOARD LICORPORATION (AMENDMENT) BILL 1984 WAS TO DELETE FROM THE ORDINANCE THE REQUIREMENT FOR THE VICE-CHAIRMAN OF THE BOARD TO BE APPOINTED FROM AMONG UNOFFICIAL MEMBERS OF THIS COUNCIL THE SECRETARY FOR HEALTH AND WELFARE, THE HON HENRY CHING, TOLD THE LEGISLATIVE COUNCIL TODAY.
BUT IT WOULD STILL BE POSSIBLE TO MAKE SUCH AN APPOINTMENT SHOULD THIS BE DESIRED, HE SAID.
WHILE THE EXISTING REQUIREMENT GAVE AN ASSURANCE OF QUALITY, IT COULD POSE PRACTICAL PROBLEMS BY RESTRICTING THE CHOICE OF VICE-CHAIRMAN TO A RELATIVELY SMALL FIELD OF BUSY PEOPLE. THERE WAS CLEAR ADVANTAGE IN A LESS RESTRICTIVE ARRANGEMENT, MR CHING SAID.
DEBATE ON THE BILL WAS ADJOURNED.
0
BILL ON NEW NAME OF BANK
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A BILL AMENDING CERTAIN LAWS TO REFLECT A CHANGE OF NAME OF THE CHARTERED BANK TO THE STANDARD CHARTERED BANK WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY.
MOVING THE SECOND READING OF THE CHARTERED BANK (CHANGE OF NAME) BILL 1984, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID, THERE WILL BE BANK NOTES IN CIRCULATION BEARING THE NAME OF THE CHARTERED BANK WHEN THE CHANGE OF NAME COMES INTO EFFECT (ON JANUARY 1, 1985), AND IN ADDITION THERE WILL BE UNISSUED STOCKS OF SUCH NOTES ON HAND, THE COST OF WHICH FALLS ON GOVERNMENT THROUGH THE EXCHANGE FUND.
+ACCORDINGLY, CLAUSE 5 OF THE BILL MAKES PROVISION FOR THE CHARTERED BANK TO CONTINUE TO ISSUE BANK NOTES BEARING ITS PRESENT NAME, NOTWITHSTANDING THE CHANGE OF NAME, FOR A PERIOD OF FIVE YEARS FROM JANUARY 1, 1985 OR TO SUCH LATER DATE AS MAY BE FIXED BY THIS COUNCIL.+
HE SAID THAT THIS WOULD ENABLE THE BANK TO USE UP EXISTING STOCKS OF PARTICULAR DENOMINATIONS.
+ALL OLD STYLE NOTES, WHICH WILL REMAIN LEGAL TENDER, WILL NATURALLY BE WITHDRAWN FROM CIRCULATION WHEN THEY ARE UNFIT FOR FURTHER CIRCULATION, SIR JOHN SAID.
HE ALSO TOLD THE COUNCIL THAT A NEW SERIES OF NOTES WOULD BE INTRODUCED SHORTLY BY BOTH NOTE ISSUING BANKS.
/THE NEW