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Reply:
(a) There are no provisions in the existing Bank Notes Issue Ordinance which require the Hongkong Bank or any other note issuing bank to apply to the HKMA before proceeding with the transaction. However, as a matter of practice, the note issuing banks consult with the HKMA on a wide range of matters concerning their note issues. The consultation between Hongkong Bank and the HKMA in this particular instance was part of this established and on-going practice.
(b) The question of donations to charity is entirely a matter for the bank concerned. The Government does not require receipts of the nature described, though donations will in the normal way be reflected in the bank's published accounts in due course.
(c) The Bank Notes Issue (Amendment) Ordinance 1995 does contain a provision which enables the Government to impose terms and conditions as necessary on the note issuing banks in the conduct of their note issues.
End/Wednesday, November 29, 1995
Detachment of bus wheels incidents
Following is a question by the Hon Miriam Lau and a written reply by the Secretary for Transport, Mr Haider Barma, in the Legislative Council today (Wednesday):
Question:
There have been several accidents involving the detachment of wheels from buses of franchised bus companies on the road in recent months, one of which has even resulted in the bus driver concerned being prosecuted by the Police. In view of this, will the Government inform this Council :
(a) of the causes of such accidents;