19
WEDNESDAY, APRIL 27, 1988
"THESE DEBT CERTIFICATES ARE INTEREST-BEARING AND ARE THE TREASURY, HE SAID.
HELD BY
INVESTED IN DEBT INVESTMENTS BARN
"IN OTHER WORDS, FISCAL RESERVES ARK CERTIFICATES ISSUED BY THE EXCHANGE FUND AND INTEREST AS IF THE MONEY WERE DEPOSITED WITH A BANK.
THESE
REVENUE AND 19 INCOME UNDER AS,
AS INTEREST
"INTEREST EARNED IS CREDITED TO THE GENERAL CLEARLY, FULLY AND PUBLICLY ACCOUNTED FOR THE REVENUE HEAD, 'PROPERTIES AND INVESTMENTS' IN THE SAME MANNER FOR EXAMPLE, PROFITS TAX UNDER THE HEAD, 'INTERNAL REVENUB'.'
STATING THAT THE RATIONALE UNDERLYING THE PLACING RESERVES ON DEPOSIT WITH THE EXCHANGE FUND WAS SIMPLE, MR JACOBS SAID: OF FISCAL "FIRST, THERE IS THE SECURITY OF THE PRINCIPAL SUM;
RETURN OFFERED; FOR HONG KONG ABSORBING THE MONETARY
"SECONDLY, THE REASONABLENESS OF THE RATE OF AND LASTLY, THERE IS SIMPLY NO OTHER SINGLE AVENUE DOLLAR INVESTMENT OF COMPARABLE QUALITY CAPABLE OF LARGE AMOUNT OF MONEY INVOLVED WITHOUT ADVERSELY AFFECTING CONDITIONS.
rr
MR JACOBS SAID IT WAS POSSIBLE FOR FISCAL INVESTED BY THE TREASURY IN FOREIGN CURRENCY ASSETS, GENERAL REVENUE WOULD BE ASSUMING EXCHANGE RISKS.
"THE ASSUMPTION OF SUCH RISKS WOULD BE IMPROPER,
"THIS WAS
MANAGEMENT OF THE
RECOGNISED IN 1976 AND AS A FOREIGN CURRENCY ASSETS OF THE TRANSFERRED TO THE EXCHANGE FUND."
RESERVES ΤΟ
BUT THEN
BR THE
"
HE SAID.
CONSEQUENCE THE GOVERNMENT WAB
MAGISTERIAL APPOINTMENT ARRANGEMENTS UNDER STUDY
UNDER
CONSIDERATION IS NOW BEING GIVEN TO THE ARRANGEMENTS WHICH MAGISTRATES ARE APPOINTED AND REMOVED, THE CHIEF SECRETARY, SIR DAVID FORD, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
THE
AND
FOR
"A NUMBER OF MEASURES WHICH
F
INCLUDE CHANGES ΤΟ COMPOSITION AND PROCEDURES OF THE JUDICIAL SERVICE COMMISSION ITS MORE FORMAL INVOLVEMENT IN DISCIPLINARY CASES, ARE PROPOSED INTRODUCTION SHORTLY, SIR DAVID SAID WHEN REPLYING TO A QUESTION BY THE HON TAI CHIN-WAH.
/"CONSIDERATION IS .......