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WEDNESDAY, MARCH 19, 1900
ON THE AREA RELATING TO LIQUIDITY, SIR JOHN SAID THE BILL INTRODUCED NEW LIQUIDITY REQUIREMENTS TO REPLACE THE PRESENT ONES.
+THESE WILL PUT AUTHORISED INSTITUTIONS IN A BETTER POSITION TO MEET LIABILITIES SUCH AS CUSTOMERS AND INTERBANK DEPOSITS AS THEY FALL DUE,+ HE SAID.
AS ALMOST ALL BODIES CONCERNED HAD EMPHASISED THE IMPORTANCE OF ALLOWING TIME FOR CAREFUL SCRUTINY OF THE DRAFTING OF THE BILL WHEN PUBLISHED, SIR JOHN PROPOSED TO ALLOW A PERIOD OF TWO MONTHS FOR DETAILED EXAMINATION AND REPRESENTATION BY INTERESTED BODIES, BEFORE RESUMPTION OF THE DEBATE ON THE BILL.
REDEVELOPMENT OF TEMPLE PROPERTIES PROPOSED *****
A BILL TO ENABLE THE TUNG WAH GROUP OF HOSPITALS TO REDEVELOP THE MAN MO TEMPLE PROPERTIES, AND TO IMPROVE THE RANGE OF CHARITABLE SERVICES WAS INTRODUCED IN THE LEGISLATIVE COUNCIL TODAY.
MOVING THE SECOND READING OF THE MAN MO TEMPLE (AMENDMENT) BILL 1986, THE SECRETARY FOR DISTRICT ADMINISTRATION, THE HON DONALD LIÁO, SAID THE MAN MO TEMPLE ORDINANCE PROVIDED FOR THE ADMINISTRATION AND DISCIPLINE OF THE TEMPLE AND THE MAN MO TEMPLE FUND BY THE TUNG WAH GROUP OF HOSPITALS.
+ THE OBJECTS OF THE FUND, AS SPELT OUT BY THE ORDINANCE, INCLUDE THE DEVELOPMENT OF ANY PROPERTY BELONGING TO THE FUND AND THE USE OF THE FUND FOR EDUCATIONAL, MEDICAL AND CHARITABLE PURPOSES.
THE GROUP
+UNDER THE TUNG WAH GROUP OF HOSPITALS ORDINANCE IS EMPOWERED TO MANAGE THE FUND IN ACCORDANCE WITH THE PROVISIONS OF THE MAN MO TEMPLE ORDINANCE.
+THIS IN EFFECT TURNS THE GROUP INTO A TRUSTEE OF THE FUND,+ MR LIAO SAID.
THE NEW BILL INTRODUCES THE NECESSARY AMENDMENTS TO ENABLE THE GROUP TO REDEVELOP AND MORTGAGE ANY PROPERTY BELONGING TO THE FUND, HE SAID.
MR LIAO POINTED OUT THAT SOME OF THE EXISTING PROPERTIES OF THE FUND WERE IN DISREPAIR 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 CERTAIN PROPERTIES IN SHEUNG WAN,+ HE SAID.
/+THE FUND