8
THURSDAY, JUNE 2, 1988
LONG
'THEY WERE STRUCTURES, ORGANISATIONS THAT WERE SET UP A TIME AGO IN A VERY DIFFERENT CONTEXT. AND I WOULD PREFER THAT THIS COMMUNITY SHOULD LOOK AT THEIR VERY SOLID ACHIEVEMENTS.
"AS FAR AS
THE COMMISSION, THE COMMISSIONER'S OFFICE, THE BRANCH AND INDEED MY OWN OFFICE ARE CONCERNED, I THINK YOU HAVE ΤΟ REMEMBER A NUMBER OF FACTORS.
"FIRST OF ALL, THE SECURITIES COMMISSION AND THE COMMISSIONER'S OFFICE CAME INTO BEING IN THE EARLY 1970'S. THE STRUCTURE OF THAT OFFICE, THE STRUCTURE OF THE COMMISSION, WAS SETTLED QUITE A LONG TIME AGO.
THINGS HAVE MOVED ON AMAZINGLY SINCE WHEN I SAY THINGS HAVE MOVED ON, OBVIOUSLY THE TESTED.
THOSE DAYS. THEREFORE STRUCTURES HAVE BEEN
HE ALSO ASKED THE PUBLIC TO REMEMBER, COMMISSION AND THE COMMISSIONER'S OFFICE, M'HIEVEMENTS THAT THEY HAD TO THEIR CREDIT.
IN LOOKING AT THE ALL THE AMAZING
KONG, THE
"WHEN THEY WERE SET UP, THE STOCK EXCHANGES OF HONG STOCK MARKETS OF HONG KONG, WERE FRAGMENTED AND DARE I SAY VERY DISORDERLY, HE SAID.
||
IT
THE
WHAT THE COMMISSION MANAGED TO ACHIEVE, WHAT COMMISSIONER'S OFFICE MANAGED TO ACHIEVE, WAS A VERY MUCH BETTER SECURITIES MARKET FOR HONG KONG.
"THEY HAVE VERY MANY ACHIEVEMENTS REALLY THIS COMMUNITY NEEDS то REMEMBER CRITICISE.
│1
TO THEIR NAME. I THINK THAT BEFORE STARTING ΤΟ
OFFICE IN
ASKED IF WORK WOULD BE NORMAL IN THE COMMISSIONER'S THE INTERIM, MR JACOBS STRESSED THAT HE HAD NOT THE SLIGHTEST DOUBT THAT THEY WOULD WORK NORMALLY AND INDEED VERY WELL.
"THAT
ASKED ABOUT THE FUTURE OF THE STAFF, MR JACOBS SAID: AGAIN IS SOMETHING THAT WE'LL HAVE TO TACKLE LATER ON. BUT AS MR DAVISON HAS MADE CLFAR IN HIS REPORT, MANY OF THE STAFF IN THI COMMISSIONER'S OFFICE, ON THE ASSUMPTION OF THE SET UP OF A NEW
BODY. COULD WELL BE ABSORBED INTO THE NEW BODY.
"BUT I THINK WE ARE LOOKING A BIT TOO FAR AHEAD AT THE MOMENT. CERTAINLY THESE THINGS CAN EASILY BE ACCOMMODATED."
*
AS FOR HIS PERSONAL. VIEWS ABOUT THE COMMITTEE'S RECOMMENDATIONS, MR JACOBS REITERATED THAT THE REPORT WAS CERTAINLY
VALUABLE BLUEPRINT,
A
[ THINK MANY
WILL DE CONSIDER
OF THE ABLE ΤΟ THEM
IN
"' 1 T POINTS THE WAY FORWARD. RECOMMENDATIONS WILL BE RECOMMENDATIONS THAT COMMEND TO THE EXECUTIVE COUNCIL BUT WE DO NEED TO SOME DETAIL.
/"AND OF