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THURSDAY, MARCH 19, 1987
+IN ADDITION TO EXAMINATIONS, THERE IS AN ANALYSIS OF RETURNS SUBMITTED REGULARLY BY ALL INSTITUTIONS, THE MAINTENANCE OF A PUBLIC REGISTER CONTAINING ANNUAL AUDITED ACCOUNTS AND REPORTS, REGULAR CONTACTS WITH DIRECTORS, EXECUTIVES AND AUDITORS AND COMMUNICATION WITH OVERSEAS SUPERVISORY BODIES, VARIOUS ASSOCIATIONS AND ADVISORY COMMITTEES, HE SAID.
IN THE REPORT, THE COST OF SUPERVISION HAS NOT BEEN INCLUDED. THE DIRECT COSTS OF THE COMMISSIONER'S OFFICE FOR 1985-86 WERE IN THE ORDER OF $20 MILLION. THIS LEAVES OUT CERTAIN OTHER SUBSTANTIAL COSTS (E.G. ACCOMMODATION) AND THE COST OF THE WORK DONE BY OTHERS WHICH IS ALSO SUBSTANTIAL, E.G. THE COST OF DRAFTING THE NEW LEGISLATION.
CASES BEING PROSECUTED IN THE COURTS ARE SOMETIMES A SOURCE OF CONFUSION. THE REPORT EMPHASISES THAT THE PROBLEMS WHICH CAUSED MANY OF THESE CASES TO BE DISCOVERED HAVE ALREADY BEEN DEALT WITH. THIS POINT HAS TO BE STRESSED. THE WORK OF THE COMMISSIONER'S OFFICE IS TO PROTECT THE DEPOSITOR BY THE SYSTEM OF SUPERVISION DESCRIBED. COURT CASES MAY AND DO ARISE BUT THESE ARE SUBSEQUENT HAPPENINGS NOT NEW PROBLEMS. THE MATTERS DETECTED AND DEALT WITH IN 1985 AND 1986 WERE COMMITTED BEFORE THE INTRODUCTION OF MORE STRINGENT SUPERVISION.
SINCE THIS REPORT WAS MADE, THE FINANCIAL SECRETARY HAS ANNOUNCED REVISED CRITERIA FOR THE LICENSING OF NEW BANKS. VARIATION OF THE SIZE CRITERIA IS AT THE DISCRETION OF THE GOVERNOR-IN-COUNCIL AND IS LIKELY TO BE USED VERY SPARINGLY.
ANY
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SIGNIFICANT DROP IN NUMBER OF DRUG-ABUSERS
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HONG KONG'S CONTINUED DETERMINATION AND WILL TO FIGHT AGAINST NARCOTICS WAS REWARDED WITH A SIGNIFICANT DROP IN THE NUMBER OF PERSONS NEWLY REPORTED FOR INVOLVEMENT IN DRUGS IN 1986 - A RECORD LOW FIGURE FOR THE PAST FIVE YEARS.
AT THE 63RD MEETING OF THE ACTION COMMITTEE AGAINST NARCOTICS (ACAN) TODAY (THURSDAY), COMMISSIONER FOR NARCOTICS, MR GORDON MORTIMER, INFORMED MEMBERS THAT THERE WAS A SIGNIFICANT DECREASE OF 22 PER CENT FROM 3 523 TO 2 747 IN THE NUMBER OF PERSONS OF ALL AGES NEWLY REPORTED TO THE CENTRAL REGISTRY OF DRUG ABUSE (CRDA) IN COMPARISON WITH 1985.
AND THE NUMBER OF NEWLY REPORTED YOUNG PEOPLE UNDER THE AGE OF 21 DROPPED BY 17.5 PER CENT, FROM 949 TO 783.
/MR MORTIMER