PAH 7 4000001
香港政府
GIS 新聞處
DAILY INFORMATION BULLETIN
Wednesday, November 1, 1972
MORE LEGISLATION TO PROTECT INVESTORS
The Financial Secretary, the Hon. C.P. Haddon-Cave, today described
the Companies (Amendment) Bill 1972 as "probably one of the most up-to-date
pieces of legislation on prospectuses in the world".
He said other bills to follow in due course for the protection of
investors will deal with securities which, among other things, will include the
regulation of the operations of stock exchanges; unit trusts and mutual funds;
and take-over bide, and they are now in an advanced stage of preparation.
He was speaking in this afternoon's Legislative Council meeting while
moving the second reading of the Bill.
The Bill, he said, aims at requiring more and better information to
be given in prospectuses and laying down penalties for giving false or misleading
information and for other offences by promoters,
To that extent, it will provide greater protection for the investing
public, he added.
However, the Financial Secretary pointed out it will be up to the
public themselves to take advantage of the provisions in this Bill by reading
prospectuses carefully and, where they feel this is necessary, by taking
professional advice.
"It is not
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