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WEDNESDAY, NOVEMBER 8, 1989
14
'THEREFORE WE PROPOSED THAT THE COMMISSION REMAIN ADVISORY FOR THE TIME BEING. IN PRACTICE, THE RECOMMENDATIONS OF THE COMMISSION ON JUDICIAL APPOINTMENTS HAVE ALWAYS BEEN ACCEPTED BY THE GOVERNOR," CHIEF SECRETARY SAID.
SIR DAVID SAID THE BILL HAD BEEN REVISED TO TAKE SOME OF THE VIEWS EXPRESSED BY THE LEGAL PROFESSION.
THE
INTO ACCOUNT
UNDERLINE AND
"THE CHANGES PROPOSED IN THE BILL WILL HELP TO ENHANCE THE INDEPENDENCE OF THE JUDICIARY, AND I AM SURE THEIR IMPLEMENTATION WILL BE BENEFICIAL TO OUR JUDICIAL SYSTEM," HE SAID.
DEBATE ON THE BILL WAS ADJOURNED.
BANK NOTES BILL INTRODUCED
INTO
SECRETARY,
THE BANK NOTES ISSUE (AMENDMENT) BILL 1989 WAS INTRODUCED THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) BY THE FINANCIAL THE HON SIR PIERS JACOBS.
MOVING THE SECOND READING OF THE BILL, SIR PIERS EXPLAINED THAT THE MAIN PURPOSE WAS TO PROVIDE THAT BANK NOTES BEARING THE NAME "THE HONGKONG AND SHANGHAI BANKING CORPORATION" SHOULD CONTINUE TO BE LEGAL TENDER FOLLOWING THE CHANGE IN THE BANK'S NAME TO "THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED" ON OCTOBER 6 THIS YEAR.
"THERE IS A NEED TO ENSURE THAT BANK NOTES BEARING THE OLD NAME MAY STILL BE LAWFULLY ISSUED AND WILL REMAIN LEGAL TENDER.
"THE PROCESS OF REPLACING SUCH NOTES BY NOTES BEARING THE BANK'S NEW NAME IS EXPECTED TO TAKE SEVERAL YEARS.
"THE COST OF PRINTING BANK NOTES IS THE ACCOUNT OF THE EXCHANGE FUND," HE SAID.
BORNE BY GOVERNMENT
FOR
1
SIR PIERS SAID THE BILL PROVIDED THAT ANY BANK NOTES BEARING THE FORMER NAME, WHETHER ISSUED BEFORE, ON OR AFTER OCTOBER 6 1989 SHOULD BE DEEMED TO BE BANK NOTES LAWFULLY ISSUED AND LEGAL TENDER FOR THE PURPOSES OF THE PRINCIPAL ORDINANCE.
THERE WAS A PROVISION THAT THE BILL SHOULD BE DEEMED TO HAVE COME INTO OPERATION ON OCTOBER 6.
"I TRUST THAT THIS RETROSPECTIVITY WILL NOT CAUSE CONCERN то MEMBERS SINCE NO ONE IS TO BE DEPRIVED OF EXISTING RIGHTS AS A RESULT, INDEED THE RIGHTS OF HOLDERS OF THE BANK'S NOTES WILL BE CONFIRMED, SIR PIERS SAID.
El
DEBATE ON THE BILL WAS ADJOURNED.
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