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WEDNESDAY, MARCH 12, 1986
LAST YEAR, A PRACTICE NOTE WAS ISSUED TO AUTHORISED PERSONS AND REGISTERED STRUCTURAL ENGINEERS STRONGLY WARNING THEM AGAINST THE USE OF ASBESTOS MATERIALS IN NEW BUILDINGS, AND RECOMMENDING PRECAUTIONARY MEASURES FOR THE SAFETY OF CONSTRUCTION WORKERS.
THE NEW REGULATIONS BAN THE USE IN ANY FORM OF THE MORE HARMFUL BLUE AND BROWN ASBESTOS AND TOTALLY PROHIBIT THE SPRAYING OF SUBSTANCES CONTAINING ASBESTOS, MR CHAN SAID.
+FURTHERMORE, AMENDMENTS TO THE BUILDING REGULATIONS ARE IN HAND TO EXCLUDE THE USE OF ALL ASBESTOS RELATED MATERIALS FROM PERMITTED MATERIALS UNDER THE REGULATIONS. THESE ARE EXPECTED TO COME INTO EFFECT BEFORE THE END OF THIS YEAR.+
THE GREATEST POTENTIAL DANGER FROM ASBESTOS, ACCORDING TO MR CHAN, WAS TO WORKERS INVOLVED IN MANUFACTURING, CONSTRUCTION OR DEMOLITION PROCESSES.
IN SUCH OPERATIONS, WHEN THE MATERIAL WAS SUBJECT TO PULVERISATION, HIGH IMPACT, OR WHEN IT WAS WORKED IN A LOOSE STATE, ASBESTOS FIBRES COULD BE FREELY RELEASED INTO THE AIR IN LARGE AMOUNTS,
HE SAID THE NEW FACTORIES AND INDUSTRIAL UNDERTAKINGS (ASBESTOS) SPECIAL REGULATIONS 1986 WOULD SAFEGUARD THE HEALTH OF WORKERS UNDER THESE CONDITIONS.
RESTRICTIONS AGAINST FREE MARKET NOT PART OF POLICY
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RESTRICTIONS THAT WOULD WORK AGAINST THE PRINCIPLE OF A FREE MARKET OR WOULD HINDER THE GROWTH OF HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE WOULD NEVER BE PART OF GOVERNMENT'S LONG TERM POLICY, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID TODAY (WEDNESDAY).
REPLYING TO A QUESTION BY THE HON DAVID LI, SIR JOHN SAID THAT THE SECURITIES COMMISSION WAS VERY CONSCIOUS THAT THE UNIFICATION OF THE FOUR EXCHANGES, THE MOVE TO A NEW TRADING FLOOR, THE INTRODUCTION OF A DIFFERENT TRADING SYSTEM AND THE ADDED DIMENSION OF INCREASED INVOLVEMENT OF BANKS, HAD GIVEN RISE TO GENUINE FEARS AND CONCERN BY SECTORS OF THE STOCK-BROKING INDUSTRY.
UNDER THE CIRCUMSTANCES, HE SAID, THE SECURITIES COMMISSION HAD ACCEPTED, AS A TRANSITIONAL ARRANGEMENT, THE LIMITED TRADING RESTRICTIONS FOR NEW ENTRANTS THE MARKET PLACE TO ALLOW BREATHING SPACE FOR THOSE WHO WERE ALREADY IN THE MARKET TO ADJUST TO THE NEW REGIME.
/SIR JOHN