WEDNESDAY, JULY 13, 1935
28
AMENDMENTS TO LLOYDS BANK (MERGER) BILL DESIRABLE
******
IT WAS DESIRABLE THAT THE PROVISIONS IN THE LLOYDS BANK (MERGER) BILL 1985 BE AMENDED TO REMOVE ANY POSSIBLE DOUBTS THAT THEY MIGHT HAVE UNINTENTIONAL EXTRA-TERRITORIAL APPLICATION, THE HON W.C.L. BROWN SAID TODAY (WEDNESDAY),
SPEAKING DURING THE SECOND READING OF THE BILL IN THE LEGISLATIVE COUNCIL, MR BROWN SAID: IN ORDER TO ENABLE THIS TO BE ACHIEVED, I SHALL MOVE AMENDMENTS IN THE COMMITTEE STAGE TO RECOMMEND, INTER ALIA, THE EFFECT OF THE UK LLOYDS BANK (MERGER)
ACT. +
HE ASSURED MEMBERS THAT THE AMENDMENTS DID LITTLE MORE THAN ALTER THE WAY IN WHICH THE ORIGINAL OBJECTIVES MIGHT BE ACHIEVED, ALTHOUGH AT FIRST SIGHT THEY MIGHT SEEM RATHER RADICAL ESPECIALLY SINCE IT LEFT ONLY SIX OF THE ORIGINAL CLAUSES UNTOUCHED.
+THE AMENDMENTS TO THE DEFINITION OF 'APPOINTED DAY' AND TO SECTION 3 SIMPLY ENSURE THAT HONG KONG WILL NEVER BE OUT OF STEP WITH THE UNITED KINGDOM.
+ IN OTHER WORDS, IF LLOYDS BANK APPOINTS A DAY FOR PURPOSES OF THE UK LLOYDS BANK (MERGER) ACT, THEN THAT DATE WILL
AUTOMATICALLY BE APPOINTED FOR PURPOSES OF THE HONG KONG ORDINANCE,+ MR BROWN SAID.
HE SAID THE NEW CLAUSE 4 GAVE EFFECT TO THE VESTING PURSUANT TO THE UK ACT.
+ IN THIS CONNECTION, I SHALL ADD THAT THERE ARE ARGUMENTS IN FAVOUR OF THE PROPOSITION THAT THE UK ACT IS IN ITSELF SUFFICIENT FOR PURPOSES OF HONG KONG TO EFFECT THE VESTING.
+HOWEVER, IT IS BY NO MEANS CERTAIN THAT THESE ARGUMENTS ARE CORRECT AND THIS IS OF COURSE THE REASON FOR INTRODUCING THE BILL INTO THIS COUNCIL, HE SAID.
+OTHER AMENDMENTS, WHICH I SHALL PROPOSE LATER ON IN THE COMMITTEE STAGE, ARE ALL MINOR AND CONSEQUENTIAL,+ MR BROWN ADDED.
FIVE BILLS PASSED
***
FIVE BILLS. INCLUDING ONE UNOFFICIAL MEMBER'S BILL, WERE PASSED IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
THEY ARE THE REGIONAL COUNCIL BILL 1985, THE CUSTOMS AND EXCISS SERVICE (AMENDMENT) BILL 1985, THE ELECTIONS (MISCELLANEOUS AMENDMENTS) BILL 1985, THE WATER POLLUTION CONTROL (AMENDMENT) BILL 1985 AND THE LLOYDS BANK (MERGER) BILL 1985.
BILL
/SEVEN BILLS
Page 30Page 31