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WIDNESDAY, JULY 8, 1992
DREDGING FOR SEA SAND IS TAKING PLACE AT THE TATHONG CHANNEL, EAST OF TUNG LUNG CHAU (THE BOKO ISLANDS AND NORTH OF LANTAU.
SOUTH OF TSING YI, NINEPINS), WEST OF
IN FUTURE, DREDGING IS LIKELY AT OUTER DEEP BAY, URMSTON ROAD, THE BROTHERS, EAST OF SHA CHAU, EAST AND WEST OF PO ΤΟΙ AND EAST LAMMA CHANNEL.
OF
THE COMMITTEE FOUND THAT BECAUSE THE ENVIRONMENTAL IMPACT DREDGING AT EAST LAMMA CHANNEL AND SOUTH TATHONG MIGHT BE SIGNIFICANT, FURTHER ENVIRONMENTAL IMPACT ASSESSMENTS WERE BEING CARRIED OUT.
HOWEVER, IT FOUND THAT THE ENVIRONMENTAL IMPACT AT THE OTHER LOCATIONS SHOULD BE LIMITED PROVIDED THE CONTRACTOR EXERCISED PROPER CONTROL OVER THE WORK.
ON THE NINEPINS, MR EASON SAID ENVIRONMENTAL MONITORING REVEALED THAT DREDGING CAUSED SOME TURBIDITY BUT THAT THIS WAS TRANSIENT IN NATURE.
HE SAID THE ADMINISTRATION WAS AWARE THAT THERE WERE FISHERMEN WHO CLAIMED THE DREDGING OPERATIONS AFFECTED THEIR LIVELIHOOD, ADDING . THAT THEIR CLAIMS WOULD BE INVESTIGATED.
"MEETINGS WITH THE FISHERMEN'S REPRESENTATIVES HAVE BEEN ARRANGED TO HEAR THEIR VIEWS AND SEEK INFORMATION ON THEIR CLAIMS. CLAIMS WHICH CAN BE SUBSTANTIATED WILL BE CONSIDERED EXPEDITIOUSLY, HE SAID.
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FUTURES EXCHANGE'S OPERATION UNDERGOES IMPROVEMENTS * * * * *
THE SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK, TOLD THE LEGISLATIVE COUNCIL THAT A NUMBER OF IMPORTANT STEPS HAD ALREADY BEEN TAKEN ΤΟ IMPROVE THE OPERATION OF THE HONG KONG FUTURES EXCHANGE (HKFE).
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MR
IN A WRITTEN REPLY TO A QUESTION BY THE HON CHIM PUI-CHUNG, NENDICK SAID A WHOLLY OWNED CLEARING HOUSE HKFE CLEARING CORPORATION LTD WAS FORMED AND A NEW RISK MANAGEMENT SYSTEM, INCLUDING A RESERVE FUND OF $200 MILLION, WAS INTRODUCED.
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HE SAID ANY MEASURES THAT MIGHT BE REQUIRED то IMPROVE THE OPERATION OF THE HKFE WERE ESSENTIALLY A MATTER FOR THE EXCHANGE ΤΟ CONSIDER THOUGH THE SECURITIES AND FUTURES COMMISSION (SFC) WOULD PREPARED TO HELP AND OFFER GUIDANCE SHOULD THIS BE REQUIRED.
BE
REGARDING THE EXISTING SPECIAL LEVY ON SECURITIES TRANSACTIONS, MR NENDICK SAID STEPS WOULD BE TAKEN TO WITHDRAW THE SPECIAL LEVY WHEN PRINCIPAL AND INTEREST ON THE OUTSTANDING REVOLVING CREDIT WERE REPAID.
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