XN000022-1974-01-30 — Page 27

Wednesday, January 30, 1974

25

After some initial uneasiness, there was now a wide measure of

support within the industry, he said, although some opposition still lingered

in ono or two limited quarters despite the great effort which has been made

to moot all reasonable objections.

The Financial Secretary was certain, however, that those concernod

would eventually take a broader and longer view.

Any legislation, he pointed out, inevitably caused some inconvenience

to some of the parties concerned.

"But wo must bear in mind that the main purpose of this bill is to

give bettor protection to the large body of investors, and we have to weigh

the benefit to these against the inconvenience to a much smaller number of

people, particularly as much of this inconvenience will be of a temporary

nature."

1

/26