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WEDNESDAY, NOVEMBER 4, 1992
то
TIME
HONG
SHE SAID THE GOVERNMENT INTENDED TO PUBLISH FROM TIME SUCH LABORATORIES WHICH WOULD INCLUDE THOSE ACCREDITED UNDER THE KONG LABORATORIES ACCREDITATION SCHEME.
MOVING
AMENDMENTS
AT
THE THE COMMITTEE STAGE OF
BILL, SECRETARY SAID IT REMAINED THE GOVERNMENT'S POLICY INTENTION THAT PRIMARY APPLICATION OF THE BILL WOULD BE TO TOYS FOR CHILDREN WHO 14 YEARS OF AGE OR BELOW.
THE
THE ARE
"THIS IS WITHIN THE UPPER AGE LIMIT SPECIFIED IN ANY ONE SET OF USEFUL GUIDELINE THE PRESCRIBED SAFETY STANDARDS AND WILL PROVIDE A FOR THE ENFORCEMENT AGENCY AND TOYS SUPPLIERS WHEN DETERMINING WHETHER A TOY FALLS WITHIN THE SCOPE OF THE BILL, SHE SAID.
0
—
EXCHANGE FUND (AMENDMENT) BILL
A BILL TO PROVIDE FOR THE ESTABLISHMENT OF THE HONG KONG MONETARÝ AUTHORITY (HKMA) AND FOR THIS PURPOSE EXTENDS THE FUNCTIONS OF THE EXCHANGE FUND BY INTRODUCING A SECONDARY ROLE OF MAINTAINING THE STABILITY AND INTEGRITY OF THE MONETARY AND FINANCIAL SYSTEMS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING
WAS
BILL
THE SECOND.READING OF EXCHANGE FUND { AMENDMENT) 1992, THE SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK, SAID UNDER THE PROPOSALS
HKMA WOULD REMAIN AN
PART INTEGRAL
OF
THE
THE
GOVERNMENT.
OF
TO
BUT MR NENDICK ASSURED THAT IT WOULD BE GIVEN A HIGH DEGREE DAY
TO DEPLOY ΤΟ DAY AUTONOMY, INCLUDING THE NECESSARY FLEXIBILITY STAFF RESOURCES IN RESPONSE TO PRIORITIES AND
ENABLE IT TO
AND IMPLEMENT
ACHIEVE EFFICIENTLY MONETARY POLICY OBJECTIVES DETERMINED BY THE GOVERNMENT.
"THE ESTABLISHMENT OF A FULLY INDEPENDENT MONETARY AUTHORITY IN HONG KONG SEPARATE FROM THE GOVERNMENT
BE I BELIEVE, WOULD, INCONSISTENT WITH THE JOINT DECLARATION AND THE BASIC LAW,
||
HE SAID.
THE
THE RELEVANT PROVISIONS IN THESE DOCUMENTS STIPULATE THAT EXCHANGE FUND SHALL BE MANAGED AND CONTROLLED BY THE GOVERNMENT OF THE THE EXCHANGE SPECIAL ADMINISTRATIVE REGION PRIMARILY FOR REGULATING VALUE OF THE HONG KONG DOLLAR.
WOULD FUND,
AN INDEPENDENT MONETARY AUTHORITY SEPARATE FROM THE THUS NOT HAVE AVAILABLE TO IT THE RESOURCES HE SAID.
GOVERNMENT
OF THE EXCHANGE
THE SECRETARY SAID AS THE GOVERNOR EXPLAINED IN HIS ADDRESS THE LEGCO ON OCTOBER 7, THE ESTABLISHMENT OF THE AUTHORITY WOULD ENSURE THAT HONG KONG'S MONETARY POLICY WAS CONDUCTED WITH CONTINUITY AND PROFESSIONALISM NECESSARY TO COMMAND THE CONFIDENCE THE PEOPLE OF HONG KONG AND THE INTERNATIONAL FINANCIAL COMMUNITY.
ΤΟ
HELF
THE
OF
/TO EFFECT