TUESDAY, JANUARY 17, 1989
6
"THIS WILL ENABLE USEFUL COMPARISONS TO BE AND CHARACTERISTICS OF THE DIFFERENT CENTRES,
||
OUT.
OUT.
MADE OF THE SIZE THE SPOKESMAN POINTED
HE SAID THAT QUESTIONNAIRES FOR THE SURVEY HAD JUST
BEEN SENT
"THEY HAVE BEEN PREPARED AFTER CONSULTATION WITH THE HONG
KONG DEPOSIT-TAKING THE HONG ASSOCIATION OF BANKS, ASSOCIATION AND THE HONG KONG FOREIGN EXCHANGE AND ASSOCIATION, WHICH ARE ALL SUPPORTIVE OF THE EXERCISE,'
BEEN
KONG
COMPANIES DEPOSIT BROKERS'
HE SAID.
"
REPORT 1989 AND TO ON
TO REQUESTED HAVE INSTITUTIONS "THE REPORTING THEIR FOREIGN EXCHANGE BUSINESS CONTRACTED DURING APRIL RETURN THE COMPLETED QUESTIONNAIRES TO THE MONETARY AFFAIRS BRANCH OR BEFORE MAY 19, 1989.
"IT IS INTENDED THAT SURVEY WILL BE PUBLISHED SOME TIME IN AUGUST 1989,
FINDINGS
ON AN HE SAID.
AGGREGATE
BASIS
TRANSFER OF INSURANCE DIVISION PLANNED
THE REGISTRAR
* * * *
MR GENERAL,
INTENTION
TODAY ANNOUNCED NOEL GLEESON,
ΤΟ ESTABLISH THE INSURANCE COMMISSION UNDER
(TUESDAY} THE GOVERNMENT'S DIVISION OF HIS DEPARTMENT AS A SEPARATE REGULATORY THE MONETARY AFFAIRS BRANCH,
DO THIS BECAUSE THE 1983 HE SAID IT WAS NOW APPROPRIATE TO
WORK OF HIS INSURANCE COMPANIES ORDINANCE HAD RADICALLY CHANGED THE
TO AUTHORISED INSURERS INSURANCE DIVISION FROM THE REGISTRATION THE REGULATION OF THE INSURANCE INDUSTRY.
OF
COMMISSION WOULD ALSO
THE ESTABLISHMENT OF THE NEW INSURANCE MARK THE INCREASING IMPORTANCE OF HONG KONG AS AN INSURANCE MARKET.
SUFFICIENTLY DEVELOPED
THE DIVISION HAD NOW ESTABLISHMENT AS A SEPARATE COMMISSION.
LIKE THE OFFICE SECURITIES AND COMMODITIES COMMISSION WOULD BE A MONETARY AFFAIRS.
OF THE
COMMISSIONER TRADING COMMISSIONS,
RESPONSIBILITY POLICY
WARRANT TO
IT'S
OF BANKING AND THE THE NEW INSURANCE THE OF
SECRETARY FOR
THE NEW INSURANCE
SERVICE, BUT
TRANSFER, THE
COMMISSION
WHEN IT
WILL
REMAIN
WITHIN
WILL
THE CIVIL, PLACE IT
SUPERVISION OF
TAKES PLACE, PRUDENTIAL
ALONGSIDE THE OTHER AGENCIES CHARGED WITH
VARIOUS ASPECTS OF HONG KONG'S FINANCIAL SERVICES.
ΤΟ SCHEDULED
TAKE
PLACE GOVERNMENT
IN
THE COMING
APPROVALS
THE TRANSFER IS FINANCIAL YEAR, SUBJECT TO THE NECESSARY
BEING
GIVEN.
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