TUESDAY, DECEMBER 28, 1993
NEW COMAC APPOINTED
THE GOVERNMENT ANNOUNCED TODAY (TUESDAY) THE APPOINTMENT OF MR ANDREW SO AS THE NEW COMMISSIONER FOR ADMINISTRATIVE COMPLAINTS
(COMAC).
MR SO WILL TAKE UP HIS OFFICE AS COMAC FROM FEBRUARY 1 NEXT YEAR, UPON THE DEPARTURE OF THE INCUMBENT, MR ARTHUR GARCIA, ON JANUARY 31.
THE APPOINTMENT IS MADE BY THE GOVERNOR UNDER THE PROVISIONS OF THE COMAC ORDINANCE.
MR SO, AGED 54, IS A QUALIFIED TEACHER AND IN THE PAST 30 YEARS HAS BEEN DEVOTING HIMSELF TO THE PROMOTION OF THE CREDIT UNION MOVEMENT.
HE HAS ALSO UNDERTAKEN EXTENSIVE PUBLIC SERVICE.
HE WAS AN APPOINTED MEMBER OF THE LEGISLATIVE SEPTEMBER 1978 TO OCTOBER 1985.
COUNCIL FROM
OF
HIS OTHER PUBLIC SERVICE IN THE PAST INCLUDES CHAIRMANSHIP THE BOARD OF EDUCATION AND MEMBERSHIP OF THE STANDING COMMISSION ON CIVIL SERVICE SALARIES AND CONDITIONS OF SERVICE, THE ENVIRONMENTAL POLLUTION ADVISORY COMMITTEE, AND COMPLAINTS COMMITTEE OF THE INDEPENDENT COMMISSION AGAINST CORRUPTION.
EXCHANGE FUND BILL CEILINGS RAISED
A SPOKESMAN FOR THE HONG KONG MONETARY TODAY (TUESDAY) THAT THE FINANCIAL SECRETARY HAD, THE EXCHANGE FUND ADVISORY COMMITTEE, RAISED THE ISSUE OF EXCHANGE FUND BILLS AS FOLLOWS:
AUTHORITY ANNOUNCED ON THE ADVICE OF CEILINGS FOR THE
EXISTING CEILINGS
REVISED CEILINGS
REVISED
RESERVE AMOUNT
91-DAY BILLS
$1,000 MN
$1,500 MN
$300 MN
182-DAY BILLS
364-DAY BILLS
$400 MN
$300 MN
$800 MN
$160 MN
$500 MN
$150 MN
THE SPOKESMAN SAID THE BILLS HELD MONETARY AUTHORITY WOULD CONTINUE TO BE MAKERS THROUGH SECONDARY MARKET TRADING.
IN RESERVE BY THE USED FOR SUPPLY
HONG
ΤΟ
KONG MARKET
THE ACTUAL TENDER AMOUNT OF BILLS WOULD HOWEVER BE INCREASED GRADUALLY IN THE LIGHT OF MARKET CONDITIONS AND DEMAND.
ON JANUARY 4 NEXT YEAR, THE TENDER AMOUNT FOR 91-DAY BILLS WOULD BE $1,200 MILLION AND 182-DAY BILLS WOULD BE $500 MILLION.
/"THE ISSUE