FRIDAY, MAY 13, 1994
RECOMMENDED PARTY THE WORKING
THE THAT
QUESTION OF THE THE BALANCE SHEET WITH OF EXPERIENCE
DISCLOSURE BY BANKS OF EXISTING INNER RESERVES ON SHOULD BE REVIEWED THE INCREASED
MID-1995 IN DISCLOSURE IN
LIGHT IN THE THE 1994 ACCOUNTS.
IT ALSO APPROVED A REVISED PRESENTATION OF ITS BASED ON A "CHECK-LIST" OF RELEVANT ITEMS.
"THE WORKING
RECOMMENDATIONS
AN IMPORTANT
ΤΟ
A VERY DISCLOSURE CHIEF EXECUTIVE
ARE RECOMMENDATIONS PARTY'S
WOULD WHICH
LEAD SECTOR BY THE INITIATIVE
BANKING SUBSTANTIAL AND WELCOME INCREASE IN THE LEVEL OF FINANCIAL BY AUTHORISED INSTITUTIONS IN HONG KONG," THE DEPUTY (BANKING) OF THE HKMA, MR DAVID CARSE, COMMENTED.
WILL DEPOSITORS "FROM 1994 ONWARDS, INVESTORS AND INFORMATION ON THE OPERATING PERFORMANCE OF INSTITUTION IN WITH INTERNATIONAL DISCLOSURE STANDARDS," HE SAID.
SECTOR
HAVE FULL ACCORDANCE
HKMA THE
ΤΟ CONSULT THE BANKING THE NEXT STEP WILL BE FOR
MORE WIDELY ON THE WORKING PARTY'S RECOMMENDATIONS.
BASIS FOR BY LISTED 28.
THE UKMA WILL ALSO USE THE RECOMMENDATIONS AS THE PROPOSALS FOR INCREASED DISCLOSURE ITS COMMENTS ON THE BANKS CONTAINED IN THE STOCK EXCHANGE'S DISCUSSION PAPER OF MARCH
-
0
FEES AND CHARGES REVISED TO RECOVER COST
* *
VEHICLE
NUMBER OF TRANSPORT- THE GOVERNMENT PROPOSES TO INCREASE A RELATED FEES AND CHARGES, INCLUDING THE VEHICLE EXAMINATION
ΤΟ CENTRES, EXAMINATION GOVERNMENT-OWNED
FEES AT
OFFSET
HIGHER
OPERATING COSTS.
1990.
HAVE
THE PROPOSED
A GOVERNMENT SPOKESMAN SAID MOST OF THE FEES AND CHARGES REMAINED UNCHANGED SINCE THE LAST REVISION IN INCREASES WILL TAKE EFFECT ON JUNE 20.
APART FROM VEHICLE EXAMINATION FEES, THE PROPOSED REVISION WILL INCLUDE FEES FOR CAR CLEANER'S PERMITS, PASSENGER SERVICE LICENCES FOR ROAD PERMITS, PUBLIC BUS, PUBLIC LIGHT BUS AND PRIVATE BUS, CLOSED
VEHICLE FROM GOVERNMENT VILLAGE VEHICLE TUNNELS.
SHOULD, COST.
PERMITS AND
REMOVAL OF
AND CHARGES THE FULL
THE REVISION IS PROPOSED ON THE BASIS THAT FEES
IN GENERAL, BE SET AT LEVELS SUFFICIENT TO RECOVER
FEE AND THE ANNUAL ΤΟ AVOID SHARP INCREASES, THE ISSUING RENEWAL FEE FOR THE LANTAU CLOSED ROAD PERMIT WILL INITIALLY BE RAISED THE INTENTION IS TO A LEVEL REPRESENTING 50 PER CENT OF THE COST. THAT THESE TWO FEES WILL BE REVIEWED ANNUALLY WITH A VIEW TO FULL-COST RECOVERY AS SOON AS POSSIBLE.
/DETAILS OF
Page 10Page 11