FRIDAY, JULY 4, 1986
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U.S. BANK'S LICENCE REVOKED
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CROCKER NATIONAL BANK'S (CNB) REQUEST FOR REVOCATION OF ITS BANKING LICENCE HAS BEEN GRANTED ON THE GROUND THAT IT HAS CEASED TO TRANSACT BANKING BUSINESS IN HONG KONG, A NOTICE TO THIS EFFECT WAS PUBLISHED IN THE GAZETTE TODAY (FRIDAY).
A GOVERNMENT SPOKESMAN EXPLAINED THAT UNDER THE BANKING ORDINANCE, THE GOVERNOR-IN-COUNCIL MAY REVOKE A BANKING LICENCE IF HE IS SATISFIED THAT THE HOLDER OF THE LICENCE HAS CEASED TO TRANSACT BANKING BUSINESS IN HONG KONG.
INCORPORATED IN THE UNITED STATES, CNB WAS LICENSED TO CONDUCT BANKING BUSINESS HERE IN SEPTEMBER 1978 AND COMMENCED OPERATION IN APRIL 1979.
IT BECAME A WHOLLY-OWNED SUBSIDIARY OF MIDLAND BANK PLC IN MAY 1985 AND ITS HONG KONG BUSINESS, TOGETHER WITH ALL ASSETS AND LIABILITIES, WERE TRANSFERRED TO THE LATTER IN NOVEMBER LAST YEAR.
WITH THIS REVOCATION, THE NUMBER OF LICENSED BANKS IN HONG KONG NOW STANDS AT 151.
MORE SHELTERED EMPLOYMENT FOR DISABLED PLANNED
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AN ADDITIONAL 2 960 PLACES IN SHELTERED WORKSHOPS WILL BECOME AVAILABLE IN 1990-91 FOR DISABLED PERSONS WHO CANNOT OBTAIN OPEN EMPLOYMENT BECAUSE OF THE NATURE OR SEVERITY OF THEIR DISABILITY, THE DIRECTOR OF SOCIAL WELFARE, MRS ANSON CHAN, SAID TODAY (FRIDAY).
SPEAKING AT THE ANNUAL GENERAL MEETING AND END-OF-SCHOOL-TERM CEREMONY OF THE SPASTICS ASSOCIATION OF HONG KONG, SHE SAID THAT 460 SUCH PLACES WERE PLANNED FOR THE CURRENT FINANCIAL YEAR.
AT PRESENT SHELTERED WORKSHOPS AND FACTORIES FOR THE DISABLED WERE RUN BY THE SOCIAL WELFARE DEPARTMENT AND WELFARE AGENCIES AND PROVIDED 2 530 PLACES.
IN ADDITION, WORK ACTIVITY CENTRES PROVIDED TRAINING IN DAILY LIVING SKILLS AND SIMPLE WORK ACTIVITIES FOR MODERATELY AND SEVERELY MENTALLY HANDICAPPED ADULTS UNABLE TO BENEFIT FROM VOCATIONAL TRAINING OR SHELTERED WORK.
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