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WEDNESDAY, MAY 2, 1990
"THIS IS TO PROVIDE THE NECESSARY FLEXIBILITY TO TAKE ACCOUNT SIR OF MARKET PRACTICES AND DEVELOPMENTS IN INFORMATION TECHNOLOGY, "- PIERS EXPLAINED.
SIR PIERS SAID THE SECURITIES (DISCLOSURE OF INTERESTS) YET TO BE BROUGHT INTO ORDINANCE WAS ENACTED IN JULY 1988 BUT HAD FORCE.
WOULD BE
THE DUTIES
"IT HAS ALWAYS BEEN OUR INTENTION THAT THE ORDINANCE BROUGHT INTO FORCE ONCE THE SECURITIES AND FUTURES COMMISSION AND STOCK EXCHANGE ARE IN A POSITION TO CARRY OUT THEIR RESPECTIVE UNDER THE ORDINANCE. THIS CONDITION HAS NOW BEEN MET.
COUNCIL,
"SUBJECT TO THE ENACTMENT OF THIS BILL NOW BEFORE THE
ORDINANCE INTO FORCE ON IT IS OUR INTENTION TO BRING THE PRINCIPAL JULY 1, 1990," THE FINANCIAL SECRETARY SAID.
BILL TO PROVIDE FOR LICENSING OF TELECOMMUNICATIONS FACILITIES
ON BOARD SPACE OBJECTS
THE TELECOMMUNICATION (AMENDMENT) BILL 1990 SEEKS TO AMEND THE TELECOMMUNICATION ORDINANCE (THE ORDINANCE) IN ORDER TO PROVIDE FOR THE LICENSING OF TELECOMMUNICATIONS FACILITIES ON BOARD SPACE OBJECTS REGISTERED IN HONG KONG, THE SECRETARY FOR ECONOMIC SERVICES, THE HON ANSON CHAN, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE BILL, MRS CHAN SAID: "THE PURPOSE OF THIS LICENSING REQUIREMENT IS TO ENSURE THAT SUCH TELECOMMUNICATIONS FACILITIES ARE MADE SUBJECT TO PROPER REGULATORY CONTROL, FOR EXAMPLE WITH RESPECT TO THE USE OF RADIO FREQUENCIES.
**
THE AMENDMENT HAD BEEN MADE NECESSARY BY THE SUCCESSFUL LAUNCH OF THE ASIASAT 1 SATELLITE BY ASIA SATELLITE TELECOMMUNICATION CO LTD, SHE ADDED.
**THIS SATELLITE IS REGISTERED IN HONG KONG AS A SPACE OBJECT UNDER THE UK OUTER SPACE ACT AS EXTENDED TO HONG KONG BY THE OUTER SPACE (HONG KONG) ORDER 1990.
**THE COMPANY HAS PLANS TO LAUNCH OTHER SATELLITES IN FUTURE, WHICH WOULD ALSO BE REGISTERED IN HONG KONG, MRS CHAN SAID.
DEBATE ON THE BILL WAS ADJOURNED.
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