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THURSDAY, MAY 28, 1987
THE OPENING WAS FOLLOWED BY A LION DANCE AFTER PRINCESS MARGARET DOTTED ITS EYES TO GIVE IT LIFE.
ACCOMPANIED BY THE COMMANDER BRITISH FORCES, MAJOR-GENERAL ANTHONY BOAM, AND THE ACTING CAPTAIN-IN-CHARGE, ROYAL NAVY COMMANDER GEOFF HARVEY, THE ROYAL VISITOR LATER BOARDED A PATROL CRAFT, HMS PLOVER, TO WATCH A SEARCH AND RESCUE OPERATION.
NOTE TO EDITORS:
PHOTOGRAPHS OF THE VISIT BY PRINCESS MARGARET TO HMS TAMAR WILL BE SENT BY FACSIMILE LATER TODAY. COLOUR SLIDES WILL ALSO BE AVAILABLE FOR COLLECTION FROM THE GIS NEWSROOM,
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SECURITIES (DISCLOSURE OF INTEREST) BILL TO BE PUBLIS HED
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ONE OF THE MAIN AIMS OF THE SECURITIES (DISCLOSURE OF INTERESTS) BILL 1987 IS TO LET THE PUBLIC AND THE MANAGEMENT OF LISTED COMPANIES KNOW WHO ACTUALLY CONTROLS THEIR COMPANIES, THE SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK, SAID TODAY (THURSDAY).
EXPLAINING DETAILS OF THE BILL AT A PRESS CONFERENCE, MR NENDICK SAID IT SHOULD, AMONG OTHER THINGS, ALSO MAKE INSIDER DEALING MORE DIFFICULT AND CREEPING TAKEOVERS HARDER TO CONCEAL.
HE POINTED OUT THAT THE EXECUTIVE COUNCIL HAD APPROVED THE PUBLICATION OF THE BILL WHICH FOLLOWED CLOSELY THE PROVISIONS OF THE UK COMPANIES ACT AS A WHITE BILL FOR PUBLIC CONSULTATION. THE BILL WILL BE PUBLISHED IN THE GAZETTE ON JUNE 5.
+THE PURPOSE OF THE BILL IS TO REQUIRE SUBSTANTIAL SHAREHOLDERS (ANY PERSON WHO HOLDS 10 PER CENT OR MORE OF SHARES WITH VOTING RIGHTS) OF LISTED COMPANIES TO DISCLOSE PARTICULARS OF THEIR SHAREHOLDINGS AND TO REQUIRE THE DIRECTORS AND CHIEF EXECUTIVES OF THE LISTED COMPANIES TO DISCLOSE PARTICULARS OF THEIR BENEFICIAL INTERESTS IN SHARES AND DEBENTURES OF SUCH COMPANIES AND THEIR ASSOCIATED COMPANIES.
+THEY ARE ALSO REQUIRED TO GIVE NOTICE TO THE COMPANY OF ANY CHANGE IN THOSE INTERESTS. THE OBLIGATIONS WILL EXTEND TO SIMILAR INTERESTS HELD BY THE SPOUSE OR ANY CHILD OR STEP CHILD OF HIS OR HIS SPOUSE UNDER THE AGE OF 21 YEARS OF A SUBSTANTIAL SHAREHOLDER, DIRECTOR OR CHIEF EXECUTIVE,+ HE SAID.
/A LISTED ..............