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FRIDAY, JULY 7. 1989
COMMENCEMENT DATE FOR REMAINING SFC PROVISIONS
THE GOVERNMENT ANNOUNCED TODAY (FRIDAY) THAT THE GOVERNOR HAS APPOINTED AUGUST 1. 1989 AS THE DAY ON WHICH THE REMAINING PROVISIONS OF THE SECURITIES AND FUTURES COMMISSION (SFC) ORDINANCE SHALL COME INTO OPERATION.
MOST OF THE PROVISIONS OF THE SFC ORDINANCE COMMENCED ON MAY 1. 1989. THE COMMENCEMENT OF THE REMAINING PROVISIONS HAS BEEN DEFERRED SO AS TO ALLOW TIME FOR BOTH THE SFC AND THE REGISTERED PERSONS TO PREPARE THEMSELVES RESPECTIVELY FOR THE ENFORCEMENT OF AND COMPLIANCE WITH THESE NEW PROVISIONS," A GOVERNMENT SPOKESMAN SAID.
THESE PROVISIONS INCLUDED SECTIONS 27(1) TO (8), 30, 31 AND 32, AND ITEM (1)(B) OF PARAGRAPH 4 OF SCHEDULE 2 TO THE ORDINANCE UNDER SECTION 65 INSOFAR AS IT RELATES TO THE REPEAL OF SECTIONS 122 AND 123 OF THE SECURITIES ORDINANCE. THEY DEAL MAINLY WITH THE REGULATION OF REGISTERED PERSONS BY THE SFC.
SECTION 27(1) TO (8) REQUIRES ALL REGISTERED PERSONS TO NOTIFY THE SFC OF THE PREMISES WHERE THEIR RECORDS ARE KEPT.
SECTIONS 31 TO 32 VEST IN THE SFC POWERS TO CONDUCT SPOT CHECKS ON PREMISES NOTIFIED BY A REGISTERED PERSON UNDER SECTION 27 AND TO OBTAIN INFORMATION RELATING TO TRANSACTIONS IN SECURITIES, FUTURES AND PROPERTY INVESTMENT.
"THE COMMENCEMENT DATE OF THESE PROVISIONS IS ANNOUNCED IN ADVANCE IN ORDER TO GIVE THE MARKETS SUFFICIENT LEAD TIME ΤΟ PREPARE THEMSELVES FOR THE NEW REGULATORY REQUIREMENTS, THE SPOKESMAN ADDED.
THE COMMENCEMENT NOTICE WAS GAZETTED TODAY.
641 APPLICATIONS TO IMPORT WORKERS
THE GOVERNMENT RECEIVED 641 APPLICATIONS
WORKERS SKILLED
FROM OUTSIDE
FOR THE IMPORTATION
OF A TOTAL OF 8,479
HONG KONG WHEN THE DEADLINE FOR SUCH APPLICATIONS PASSED AT THE END OF LAST MONTH.
FROM
FOR WORKERS
CHINA, PER CENT OF THE NUMBER OF PHILIPPINES, MALAYSIA AND
THE APPLICATIONS ARE THE BULK OF TOTALLING MORE THAN 6.600, OR ABOUT 80 WORKERS SOUGHT, OTHER SOURCES INCLUDE THE THAILAND.
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CONSTRUCTION SITE REPRESENTING ABOUT 30
IN TERMS OF INDUSTRY TYPE, APPLICATIONS FOR WORKERS HEAD THE LIST WITH MORE THAN 2.500 PER CENT OF THE TOTAL NUMBER OF WORKERS SOUGHT,
/THIS IS