FRIDAY, OCTOBER 11, 199i
"IT REMAINS OUR GOAL TO MAINTAIN AN
EFFICIENT, FAIR AND ORDERLY MARKET WITH A LEVEL OF INVESTOR PROTECTION COMPARABLE TO THAT IN OTHER MAJOR INTERNATIONAL FINANCIAL CENTRES, " HE SAID.
ON RECENT MARKET DEVELOPMENTS, MR NENDICK SAID ONE OF THEM
WAS THE PREPARATIONS FOR THE ISSUE OF GOVERNMENT BONDS.
"A CONSULTATION PAPER IS BEING CIRCULATED SEEKING THE VIEWS MARKET PARTICIPANTS ON THE PROPOSED TERMS AND ARRANGEMENTS OF THE BOND PROGRAMME.
OF
"IT IS INTENDED THAT THE FIRST ISSUE OF THE TWO-YEÅR BONDS WILL TAKE PLACE IN EITHER NOVEMBER OR DECEMBER THIS YEAR AND THAT THERE WILL NORMALLY BE FOUR SUCH 19SUES BÁCH 12 MONTHS, HE SAID.
"I
TURNING TO THE SECURITIES MARKETS, MR NENDICK SAID LEGISLATION ENABLING COMPANIES TO BUY BACK THEIR OWN SHARES AND THAT TO BRING MORE EFFECTIVE SANCTIONS AGAINST INSIDER TRADING AND DISCLOSURE REQUIREMENTS FOR SIGNIFICANT SHAREHOLDERS HAD BEEN ENACTED.
"WORK IS WELL IN HAND IN INTRODUCING AN AUTOMATED CLEARING AND SETTLEMENT SYSTEM INTO THE STOCK EXCHANGE AND THIS IS PLANNED BE FOLLOWED BY AN AUTOMATED TRADING SYSTEM, HE SAID.
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AS FAR AS THE FUTURES EXCHANGE IS CONCERNED THERE ARE PLANS TO INTRODUCE NEW FINANCIAL PRODUCTS INCLUDING CURRENCY FUTURES CONTRACTS AND AN OPTIONS CONTRACT," HE ADDED.
CJ ON INVESTIGATION OF SOLICITOR
IN RESPONSE TO PRESS ENQUIRIES, A SPOKESMAN FOR THE JUDICIARY SAID TODAY (FRIDAY):
"THIS IS A SUMMARY GIVEN BY THE CHIEF JUSTICE OF HIS RADIO INTERVIEW YESTERDAY AS HE RECALLS IT:
'THE DOCUMENTS (EARLIER SIGNED BY A SOLICITOR WHO WAS BRING INVESTIGATED BY THE POLICE) MIGHT OR MIGHT NOT BE VALID, DEPENDING ON THEIR NATURE. IT IS IMPOSSIBLE TO GENERALISE. IF IN DOUBT, IT IS BEST THAT LEGAL ADVICE BE OBTAINED.
THE COURT DOES NOT ISSUE A GENERAL RULING ON ALL THE DOCUMENTS AFFECTED. IF THERE IS LITIGATION, WITH PLAINTIFF AND DEFENDANT, THE COURT WILL RULE ON THE ISSUE OF VALIDITY OF DOCUMENTS IF NECESSARY.'"
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