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Mr President, upon the enactment of the Sex Discrimination Bill, the people of Hong Kong will enjoy a similar level of legal protection, in respect of equal, opportunities between women and men, as is provided for in other advanced societies. The Bill reflects community aspirations on how we should proceed to achieve equal opportunities between the sexes in a measured and appropriate manner.
We are convinced that it will serve Hong Kong's needs well.
With these remarks, Mr President, I recommend the Bill to Members.
End/Wednesday, June 28, 1995
Banking (A) Bill 1995; second reading
!
Following is the speech by the Secretary for Financial Services, Mr Michael Cartland, in the resumption of the second reading of the Banking (Amendment) Bill 1995 in the Legislative Council today (Wednesday):
Mr President,
The Banking (Amendment) Bill 1995 before us today principally seeks to establish the Monetary Authority as the licensing authority for all three types of authorised institutions under the Banking Ordinance and to clarify the scope, duties, power and objectives of a Manager appointed under the Ordinance to take control of an authorised institution,
..
I am very grateful to the Chairman of the Bills Committee, the Hon Peter Wong, and Members of the Committee for their careful and meticulous consideration of the Bill. I would also like to thank the Hong Kong Association of Banks and the Deposit-taking Companies Association of Hong Kong for their useful comments on the Bill and the Hong Kong Society of Accountants whose comments have been taken into account at the drafting stage. The amendments to be moved at the Committee Stage are the product of dialogue in a series of meetings between the Administration, the banking industry and the Bills Committee over the past few months. They will ensure that we have a much improved Bill.
In the course of the discussions on the Bill, one of the powers of the Monetary Authority, namely the power to suspend temporarily the operations of an institution, was the subject of concern to the banking sector and the Bills Committee.
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