THURSDAY, FEBRUARY 13, 1986
SIR DAVID TOURS COUNCIL CHAMBERS
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THE DEPUTY TO THE GOVERNOR, SIR DAVID AKERS-JONES, TODAY (THURSDAY) PAID A VISIT TO THE PROVISIONAL REGIONAL COUNCIL CHAMBERS IN TSUEN WAN.
HE WAS MET ON ARRIVAL BY THE CHAIRMAN OF THE COUNCIL, MR CHEUNG YAN-LUNG; VICE-CHAIRMAN, MR NATHAN MAI THE DIRECTOR OF REGIONAL SERVICES, MR TONY HAMMOND AND THE SECRETARY OF THE COUNCIL, MRS PAMELA TAN.
SIR DAVID THEN MET MEMBERS OF THE COUNCIL BEFORE TOURING THE COUNCIL CHAMBERS AND SAW A PHOTOGRAPHIC DISPLAY ON THE WORK OF THE COUNCIL AND THE REGIONAL SERVICES DEPARTMENT.
AT THE END OF THE VISIT, MR CHEUNG PRESENTED A SOUVENIR TO SIR DAVID.
SECURITIES FIRMS' BOOKS TO BE EXAMINED
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REGISTERED DEALERS AND DEALING PARTNERSHIPS IN SECURITIES WILL BE REQUIRED TO MEET A REVISED SET OF REQUIREMENTS UNDER THE SECURITIES (ACCOUNTS AND AUDIT) (AMENDMENT) REGULATIONS 1986 GAZETTED TOMORROW (FRIDAY).
THE AMENDED REGULATIONS, MADE CONSEQUENT TO THE ENACTMENT OF THE SECURITIES (AMENDMENT) ORDINANCE 1985, WERE DRAWN UP IN CONSULTATION WITH THE COMMITTEE OF THE UNIFIED EXCHANGE AND THE HONG KONG SOCIETY OF ACCOUNTANTS AND WILL BE IMPLEMENTED WHEN THE UNIFIED EXCHANGE COMMENCES OPERATION.
DEALERS AND DEALING PARTNERSHIPS, UNDER THE AMENDED REGULATIONS, WILL HAVE TO SUBMIT PROFIT AND LOSS ACCOUNTS AND BALANCE SHEETS IN ACCORDANCE WITH THE REVISED SCHEDULE TO THE REGULATIONS.
THEY WILL ALSO BE REQUIRED TO PREPARE A COMPUTATION OF THEIR NET CAPITAL REQUIREMENT AND LIQUIDITY MARGIN FOR THE PURPOSES OF SECTION 65B OF THE SECURITIES ORDINANCE WHICH DEALS WITH CAPITAL REQUIREMENTS FOR REGISTERED DEALERS AND DEALING PARTNERSHIPS.
IN ADDITION, THE AUDITOR OF A REGISTERED DEALER OR DEALING PARTNERSHIP IS REQUIRED TO EXPRESS AN OPINION AS TO WHETHER THE COMPUTATION IS CORRECTLY COMPILED AND TO STATE WHETHER THERE APPEARS TO BE ANY CONTRAVENTION BY THE DEALER OR DEALING PARTNERSHIP OF THE NEW FINANCIAL REQUIREMENTS SPECIFIED IN SECTION 65B OF THE ORDINANCE.
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