"THESE REGULATIONS EXTEND THE REPORTING REQUIREMENTS IN THE THIRD SCHEDULE TO COVER PRESCRIBED ANNUAL RETURNS ON INSURERS' HONG KONG GENERAL BUSINESS.
"WITH SUCH ADDITIONAL INFORMATION, THE INSURANCE AUTHORITY WILL BE BETTER ABLE TO IDENTIFY AN INDIVIDUAL INSURER'S GENERAL BUSINESS EXPOSURE IN HONG KONG AND OBTAIN AN ENHANCED INSIGHT INTO AN INSURER'S OPERATING RESULTS, AND BUSINESS PORTFOLIO AND INTO CLAIMS DEVELOPMENTS OF ITS BUSINESS," THE SPOKESMAN SAID.
"MOREOVER, THE PRESCRIBED FORMAT WILL ENABLE INDUSTRY-WIDE STATISTICS TO BE COMPILED SO THAT THERE CAN BE A BETTER UNDERSTANDING OF THE SIZE AND NATURE OF THE HONG KONG GENERAL INSURANCE MARKET, HE POINTED OUT.
THE FIRST SET OF RETURNS REQUIRED TO BE SUBMITTED IS IN RESPECT OF THE FINANCIAL YEAR ENDING DECEMBER 31, 1990; AND IN CASE AN INSURER HAS A FINANCIAL YEAR-END OTHER THAN DECEMBER 31, THE FIRST FINANCIAL YEAR ENDING THEREAFTER.
THE INSURANCE AUTHORITY HAS BEEN IN CONSULTATION WITH THE INSURANCE INDUSTRY REGARDING THE DEVELOPMENT OF THESE REGULATIONS. THE INSURANCE ADVISORY COMMITTEE, THE GENERAL INSURANCE COUNCIL OF HONG KONG AND THE HONG KONG FEDERATION OF INSURERS HAVE ALL GIVEN THEIR SUPPORT TO THIS AMENDMENT.
ENQUIRIES SHOULD BE DIRECTED TO THE OFFICE OF THE COMMISSIONER OF INSURANCE ON 12TH FLOOR, QUEENSWAY GOVERNMENT OFFICES, OR ON TEL. 867 2565.
NT SITES OFFERED TO LETTERS A/B HOLDERS
THE BUILDINGS AND LANDS DEPARTMENT IS INVITING REGISTERED OWNERS OF LAND EXCHANGE ENTITLEMENTS (LETTERS A/B) TO TENDER FOR FIVE SITES IN THE NEW TERRITORIES.
TWO OF THE LOTS ARE IN FANLING FOR NON-INDUSTRIAL, EXCLUDING GODOWN, PURPOSES BUT RESIDENTIAL ONLY ABOVE LEVEL 3.
ONE OF THEM IS LOCATED IN AREA 47A AND HAS 13,530 SQUARE METRES.
AN AREA OF ABOUT
ACCORDING TO THE BUILDING COVENANT, A GROSS LESS THAN 43,269 SQUARE METRES HAS ΤΟ BE SEPTEMBER 30, 1994.
FLOOR AREA OF NOT COMPLETED BEFORE
THE OTHER ONE IS IN AREA 43, WITH AN AREA SQUARE METRES.
OF ABOUT 17,960
/THE BUILDING