SERVICES
BANKS
HOTELS
PUBLIC UTILITIES
OTHERS
* I
*
*
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* 1
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1
1
ON
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SUNDAY, OCTOBER 20, 1985
* I
00 1
8
-2
21
5 518
*
5
-2
4 902
1
-2
*
3 563
2
11
-6
5 473
-2
5
5
7 198
* CHANGES WITHIN +0.5%
PERSONS ENGAGED COVER COMPANY EMPLOYEES ONLY: SITE WORKERS EMPLOYED BY LABOUR-ONLY SUB-CONTRACTORS NOT INCLUDED.
DATE SET FOR SECURITIES ORDINANCE PART II
*****
A SPOKESMAN FOR THE OFFICE OF THE COMMISSIONER FOR SECURITIES AND COMMODITIES. TRADING SAID THAT THE GOVERNOR HAS, ACCORDING TO SECTION 1 (2) OF THE SECURITIES (AMENDMENT) ORDINANCE
APPOINTED OCTOBER 25 TO BE THE DAY ON WHICH PART 1 OF THE ORDINANCE COMES INTO OPERATION.
PART II DEALS MAINLY WITH REGISTRATION MATTERS AND ENABLES THREE TYPES OF TRADING ENTITIES TO CARRY ON THE BUSINESS OF SECURITIES DEAL ING: INDIVIDUALS, CORPORATIONS AND PARTNERSHIPS.
THE THREE ENTITIES ARE REQUIRED TO BE REGISTERED AND ARE SUBJECT TO THE RESPECTIVE REGISTRATION CRITERIA PRESCRIBED THERE IN IN RESPECT OF WHICH SOME ARE NEW.
A COMMON CRITERIA FOR ALL ENTITIES IS THE ABILITY TO COMPLY WITH THE FINANCIAL REQUIREMENTS SET OUT IN PART III OF THE ORDINANCE, BUT PART 111 WOULD ONLY BECOME EFFECTIVE WHEN THE UNIFIED EXCHANGE COMES INTO OPERATION.
THE PRE-REQUISITES FOR AN INDIVIDUAL TO REGISTER AS A DEALER ARE THAT HE MUST BE OF GOOD CHARACTER AND INTEGRITY, HAVE NOT LESS THAN THREE YEARS EXPERIENCE IN DEALING IN SECURITIES IN HONG KONG OR ON ANY OVERSEAS STOCK MARKET RECOGNISED BY THE COMMISSION, OR HAVE PASSED ANY PROFESSIONAL EXAMINATION
APPROVED BY THE COMMISSION. ALSO, ON THE COMMENCEMENT OF OPERATION OF THE UNIFIED EXCHANGE, HE MUST COMPLY WITH THE FINANCIAL REQUIREMENTS. THE THREE-YEAR EXPERIENCE REQUIREMENT HOWEVER DOES NOT APPLY TO EXISTING DEALERS.
/NO CORPORATION