XN000022-1973-07-13 — Page 3

2.

Friday, July 13, 1973

"The intention rather is to ensure that, if and when an exchange

is established, it will operate in a well regulated and orderly manner, and in

accordance with internationally accepted practices and standards, il he said.

The bill empowers senior police officers to enter and search

any premises in which an illegal commodity exchange is suspected to be

in operation and to seize records and documents.

Under the bill, the district court will be empowered to make an

interim closure order in respect of such premises, pending the completion

of proceedings against the operator of the exchange.

A court may also make a closure order in respect of such premises

following the conviction of the operator.

The bill is published in today's gazette for general information

and will be introduced in the Legislative Council next week.

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