THURSDAY, JUNE 3, 1993
12
LEGCO BY-ELECTION FOR INDUSTRIAL FUNCTIONAL CONSTITUENCY
FIRST
NOMINATIONS FOR THE COMING BY-ELECTION IN RESPECT OF THE INDUSTRIAL ELECTORAL DIVISION TO FILL THE VACANCY LEFT BY THE LATE STEPHEN CHEONG KAM-CHUEN WILL BE CALLED FOR BETWEEN JUNE 11 AND 25.
UNLESS THE BY-ELECTION IS UNCONTESTED, A POLL WILL BE CONDUCTED ON JULY 15 BETWEEN 7.30 AM AND 10.30 PM
AT THE HONG KONG SPACE MUSEUM LECTURE HALL, TSIM SHA TSUI.
CANDIDATES MUST BE REGISTERED ELECTORS UNDER THE GENERAL ELECTORAL ROLL, HAVE BEEN ORDINARILY RESIDENT IN HONG KONG FOR THE 10 YEARS IMMEDIATELY BEFORE NOMINATION, AND HAVE A SUBSTANTIAL CONNECTION WITH THE FIRST INDUSTRIAL ELECTORAL DIVISION.
NOMINATION FORMS MAY BE OBTAINED FROM TOMORROW (FRIDAY) FROM THE REGISTRATION AND ELECTORAL OFFICE AT HARBOUR CENTRE, 10TH FLOOR, 25 HARBOUR ROAD, WAN CHAI (ENQUIRIES TELEPHONE 827 9175) OR FROM MR KIM SALKELD, THE RETURNING OFFICER, IN ROOM
233, CENTRAL GOVERNMENT OFFICES EAST WING, LOWER ALBERT ROAD, CENTRAL.
COMPANY LAW REFORM COMMITTEE RELEASES ANNUAL REPORT
THE STANDING COMMITTEE ON COMPANY LAW REFORM RELEASED ITS NINTH ANNUAL REPORT FOR THE YEAR 1992.
TODAY
(THURSDAY)
SUBJECTS
A GOVERNMENT SPOKESMAN SAID: "AMONG THE IMPORTANT CONSIDERED BY THE STANDING COMMITTEE DURING THE YEAR WAS A PROPOSAL TO TRANSFER THE FUNCTION TO PROSPECTUS VETTING FROM THE REGISTRAR OF COMPANIES TO THE SECURITIES AND FUTURES COMMISSION (SFC).
FI
THE COMPANIES (AMENDMENT) (NO. 2) BILL 1992, WHICH CONTAINED THIS PROPOSAL, WAS PASSED INTO LAW ON DECEMBER 24, 1992.
"THE SFC SUBSEQUENTLY DELEGATED THIS RESPONSIBILITY IN RESPECT OF LISTED COMPANIES TO THE STOCK EXCHANGE, THE SPOKESMAN SAID.
ANOTHER ISSUE COMSIDERED BY THE STANDING COMMITTEE WAS A PROPOSAL TO GIVE SMALL DEPOSITORS ΙΝ BANKS PRKFERENTIAL PAYMENTS UNDER SECTION 265 OF THE COMPANIES ORDINANCE AS AN ALTERNATIVE TO A DEPOSIT PROTECTION SCHEME.
"ON THIS SUBJECT, THE COMMITTEE CONSIDERED THAT ANY PREFERENCE SHOULD BE RESTRICTED TO CERTAIN TYPES OF SAVINGS ACCOUNTS AND BE LIMITED TO A SPECIFIC CEILING," THE SPOKESMAN SAID.
"THE STANDING COMMITTEE ALSO CONSIDERED THAT THE LIQUIDATOR SHOULD BE GIVEN POWER TO MAKE PAYMENTS QUICKLY WITH IMMUNITY IN CASES OF GROSS NEGLIGENCE.
EXCEPT
/"THE COMMITTEE