FRIDAY, MARCH 7, 1985
STOCK EXCHANGE DAY - APRIL 2
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THE FINANCIAL SECRETARY HAS APPOINTED APRIL 2, 1986 AS THE DAY ON AND AFTER WHICH THE STOCK EXCHANGE OF HONG KONG LIMITED SHALL HAVE THE EXCLUSIVE RIGHT TO ESTABLISH, OPERATE AND MAINTAI A STOCK MARKET IN HONG KONG, THE ACTING COMMISSIONER FOR SECURITIES AND COMMODITIES TRADING, MR DEREK MURPHY, ANNOUNCED TODAY.
THE STOCK EXCHANGES UNIFICATION (APPOINTED DAY) NOTICE 1986
IS PUBLISHED IN TODAY'S GAZETTE,
UNDER SECTION 30 OF THE STOCK EXCHANGES UNIFICATION ORDINANCE, THE EXISTING EXCHANGES ARE REQUIRED TO COMMENCE VOLUNTARY WINDING UP WITHIN ONE YEAR FROM THE +APPOINTED DAY+.
THE LEGISLATIVE PROVISIONS WHICH WILL AUTOMATICALLY COME INT OPERATION ON THE SAME DAY ARE PART 1 OF THE SECURITIES (AMENDMENT) ORDINANCE 1985 (ORD. NO. 58 OF 1985), THE SECURITIES (SPECIFICATIO OF APPROVED ASSETS. LIQUID ASSETS AND RANKING LIABILITIES) NOTICE 1986 (LN 7 OF 1986) AND THE SECURITIES (ACCOUNTS AND AUDIT) (AMENDMENT) REGULATIONS 1986 (L.N. 38 OF 1986), WHICH ARE PRINCIPALLY CONCERNED WITH FINANCIAL REQUIREMENTS FOR DEALERS.
FROM APRIL 2. A REGISTERED DEALER WILL BE REQUIRED TO PROVIDE AND AT ALL TIMES MAINTAIN IN HIS BUSINESS AS A DEALER A +NET CAPITAL+, THE AMOUNT OF WHICH WILL DEPEND ON WHETHER THE DEALER IS AN INDIVIDUAL ($1 MILLION) OR A BODY CORPORATE ($5 MILLION).
ADDITIONALLY, EACH REGISTERED DEALER IS REQUIRED TO MAINTAIN A LIQUIDITY MARGIN OF NOT LESS THAN 10 PER CENT OF THE MINIMUM NET CAPITAL REQUIREMENT APPLICABLE,
REDEVELOPMENT OF TEMPLE PROPERTIES PROPOSED ****
A BILL EMPOWERING THE TUNG WAH GROUP OF HOSPITALS, THE TRUSTEE OF THE MAN MO TEMPLE FUND, TO REDEVELOP PROPERTIES UNDER THE FUND WAS GAZETTED TODAY (FRIDAY).
A SPOKESMAN FOR THE CITY AND NEW TERRITORIES ADMINISTRATION SAID SOME OF THE EXISTING PROPERTIES OF THE FUND WERE IN A DILAPIDATED STATE AND WERE EXTREMELY UNDER-UTILISED.
+TO IMPROVE THE ENVIRONMENT OF THE AREAS WHERE THE PROPERTIES ARE SITUATED AND TO MAXIMISE THEIR DEVELOPMENT POTENTIAL, THE GROUP PROPOSES TO REDEVELOP PROPERTIES, HE SAID.
THE PROPOSED