XN000022-1975-07-18 — Page 5

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FRIDAY, JULY 18, 1975

DEADLINE FOR REGISTERING AS RICE IMPORTERS NEARS

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THE DEPUTY DIRECTOR OF COMMERCE AND INDUSTRY, MR. ROY PORTER, TODAY REQUESTED COMPANIES WHICH WISH TO BE REGISTERED AS IMPORTERS OF RICE TO SUBMIT THE NECESSARY DECLARATION FORMS TO THE DEPARTMENT AS SOON AS POSSIBLE.

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+THE CLOSING DATE FOR SUBMISSION OF DECLARATION FORMS IS JULY 21,+ EXPLAINED MR. PORTER. +TO DATE, TWENTY-FOUR COMPANIES HAVE SENT IN THEIR DECLARATION FORMS. THESE ARE NOW BEING STUDIED TO ENSURE THAT THEY MEET THE BASIC REQUIREMENTS AND SO ARE ELIGIBLE TO BE INCLUDED IN THE BALLOT.

MR. PORTER ADDED: +THE DEPARTMENT HAS RECEIVED A NUMBER OF ENQUIRIES AS TO WHETHER OR NOT FIRMS OWNED BY THE SAME PERSON OR GROUP OF PERSONS MAY SUBMIT SEPARATE APPLICATIONS AND SO ALL BE INCLUDED IN THE DALLOT+.

ON THE ADVICE OF THE RICE ADVISORY COMMITTEE OF THE TRADE AND INDUSTRY ADVISORY BOARD, THE DEPARTMENT HAS DECIDED THAT FIRMS WITH A COMMON SHAREHOLDER WHO OWNS A SIGNIFICANT FINANCIAL INTEREST IN THEM (DEFINED AS BEING 15% OR MORE OF THE CAPITAL OR VOTING SHARES) MAY SUBMIT ONLY ONE DECLARATION.

+THIS RULING IS DESIGNED TO ENSURE THAT SMALL AND LARGE FIRMS ALIKE HAVE AN EQUAL OPPORTUNITY TO BE SELECTED BY BALLOT AS IMPORTERS OF RICE. IT WILL MEAN THAT A LARGE ORGANISATION WETH SEVERAL SUBSIDIARIES MAY HAVE TO DECIDE WHICH ONE SUBSIDIARY SHOULD APPLY FOR REGISTRATION. +

MR. PORTER EXPLAINED THAT COMPANIES OWNED BY PEOPLE WITH SIGNIFICANT FINANCIAL INTERESTS IN EXISTING RICE IMPORT COMPANIES WERE ALREADY INELIGIBLE FOR REGISTRATION. THE NEW RULING WAS FELT TO BE IN LINE WITH THIS CRITERION.

THE DEPARTMENT IS MAKING ARRANGEMENTS FOR A BALLOT TO BE HELD IN THE CITY HALL ON AUGUST 27, 1975 IN THE PRESENCE OF MEMBERS OF THE TRADE AND INDUSTRY ADVISORY BOARD.

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