XN000022-1974-11-29 — Page 9

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FRIDAY, NOVEMBER 29, 1974.

ANOTHER PART OF SECURITIES LAW BROUGHT INTO FORCE SECURITIES DEALERS REMINDED OF REGISTRATION REQUIREMENTS

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A NEW PART OF THE SECURITIES ORDINANCE DEALING WITH TRADING IN SECURITIES HAS BEEN BROUGHT INTO OPERATION WITH IMMEDIATE EFFECT.

IT IS PART VII OF THE ORDINANCE WHICH COVERS SUCH SUBJECTS AS OFFERS AND CALLS BY DEALERS TOGETHER WITH MORE DETAILED REQUIRE- MENTS OF CONCERN TO THE PRACTISING DEALER IN SECURITIES.

NOTICE OF COMMENCEMENT OF BRINGING INTO OPERATION THIS PART

OF THE ORDINANCE IS PUBLISHED IN TODAY'S GAZETTE.

WITH THE ENACTMENT OF PART VIII, ALL SECTIONS OF THE LEGISLATION ARE NOW IN OPERATION WITH THE EXCEPTION OF PART IX. RELATING TO THE AUDIT OF DEALERS ACCOUNTS, AND SECTION 140 OF PART XII WHICH DEALS WITH INSIDER TRADING.

IT IS HOPED THAT PART IX WILL BE IMPLEMENTED SOON.

THE COMMISSIONER FOR SECURITIES, MR. JAMES SELWYN, ALSO REMINDED THE PUBLIC TODAY THAT DEALERS IN SECURITIES HAD UNTIL THE END OF DECEMBER TO APPLY FOR REGISTRATION UNDER PART V1 OF THE ORDINANCE.

+ALL APPLICATIONS MAY NOT NECESSARILY BE SUCCESSFUL,+ HE SAID, +SO IN THE MEANTIME, ANY PERSON BUYING SECURITIES OTHER THAN THROUGH A STOCK EXCHANGE SHOULD BE CAREFUL TO ASCERTAIN THAT HE DEALS WITH A PERSON OR FIRM OF GOOD STANDING AND REPUTE.+

H.K. OFFICIAL TO ATTEND TRADE TALKS IN BANGKOK

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MR. P.K.Y. TSAO, ASSISTANT DIRECTOR OF COMMERCE AND INDUSTRY, WILL BE LEAVING FOR BANGKOK ON SUNDAY (DECEMBER 1) TO ATTEND THE 18TH SESSION OF THE UNITED NATIONS ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PACIFIC COMMITTEE ON TRADE.

MR. TSAO WILL LATER BE JOINED BY MRS. SUSAN YUEN, EXECUTIVE SECRETARY OF THE HONG KONG SHIPPERS' COUNCIL.

THE COMMITTEE WILL REVIEW DEVELOPMENTS IN TRADE AND TRADE POLICIES IN 1974 IN THE ESCAP REGION, AND DISCUSS TRADE PROMOTION, SHIPPING AND OTHER COMMERCIAL ACTIVITIES.

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