WEDNESDAY, APRIL 24, 1991
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'CANDIDATES FOR THESE OFFICES WOULD THEREFORE BE DEEMED TO HAVE A PECUNIARY INTEREST AND WOULD ACCORDINGLY BE BARRED FROM VOTING IN THE ELECTION TO THOSE OFFICES BY SECTION 19 OF THE PRINCIPAL
ORDINANCE.
"TO REMOVE THIS ANOMALY, CLAUSE 2 OF THE BILL SEEKS TO AMEND SECTION 19 TO PROVIDE THAT THE RECEIPT OF, THE RIGHT TO RECEIVE, OR THE POSSIBILITY OF RECEIVING AN ALLOWANCE, SPECIAL ALLOWANCE, OR HONORARIUM WILL NOT BE TREATED AS PECUNIARY INTERESTS HE SAID.
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ON THE ELECTION OF THE COUNCIL'S CHAIRMAN AND VICE-CHAIRMAN AND DISTRICT BOARD REPRESENTATIVE MEMBERS ON THE URBAN COUNCIL, THE PRESENT FIFTH SCHEDULE TO THE PRINCIPAL ORDINANCE PRESCRIBED THAT THEY SHOULD BE ELECTED BY SECRET BALLOT REGARDLESS OF THE NUMBER OF CANDIDATES.
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SIR DAVID SAID CLAUSE 3 OF THE BILL SOUGHT TO ADD A PROVISION THE FIFTH SCHEDULE TO PROVIDE THAT, WHERE ONLY ONE CANDIDATE WAS NOMINATED IN SUCH AN ELECTION, THAT CANDIDATE SHOULD BE DEEMED TO BE ELECTED.
HE SAID THE AMENDMENTS PROPOSED IN THE BILL HAD BEEN AGREED WITH THE URBAN COUNCIL.
IN MOVING THE
SECOND READING OF THE REGIONAL COUNCIL
{ AMENDMENT) BILL 1991, THE CHIEF SECRETARY SAID ITS OBJECT WAS IDENTICAL TO THAT OF THE URBAN COUNCIL (AMENDMENT) BILL 1991, AND SO WERE THE AMENDMENTS PROPOSED TO THE CORRESPONDING SECTION AND SCHEDULE OF THE REGIONAL COUNCIL ORDINANCE.
THEY HAD ALSO BEEN AGREED WITH THE REGIONAL COUNCIL, HE SAID.
DEBATES ON THE BILLS WERE ADJOURNED.
HK ASSOCIATION OF BANKS (AMENDMENT) BILL 1991 INTRODUCED
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(AMENDMENT} BILL 1991,
THE HONG KONG ASSOCIATION OF BANKS WHICH SEEKS TO AMEND THE HONG KONG ASSOCIATION OF BANKS ORDINANCE TO PROVIDE CLEAR STATUTORY BACKING TO THE RULES ON NEGATIVE INTEREST RATES MADE BY THE HONG KONG ASSOCIATION OF BANKS (HKAB), WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE
BILL, THE ACTING FINANCIAL SECRETARY, THE HON HAMESI MACLEOD, SAID THESE RULES WERE MADE WITH THE INTENTION TO DETER CURRENCY SPECULATION WHICH COULD DISRUPT THE PROPER CONDUCT OF BANKING BUSINESS IN HONG KONG.
"I WOULD LIKE TO STRESS THAT THE PROPOSED AMENDMENTS ARE PRECAUTIONARY IN NATURE.
/"GIVEN THAT