XN000022-1975-12-09 — Page 4

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TUESDAY, DECEMBER 9, 1975

LICENCE APPLICATIONS FOR 1976 TEXTILE SHIPMENT

TO U.K. NOW ACCEPTED

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THE COMMERCE AND INDUSTRY DEPARTMENT ANNOUNCED TODAY (TUESDAY) THAT IT WILL START ACCEPTING IMMEDIATELY EXPORT LICENCE APPLICATIONS FOR 1976 SHIPMENTS OF RESTRAINED TEXTILE PRODUCTS TO THE UNITED KINGDOM.

THESE LICENCES WILL BE ISSUED AGAINST 1976 PRELIMINARY QUOTAS, AND WILL BE VALID FOR THREE MONTHS INSTEAD OF THE NORMAL 28 DAYS.

A SPOKESMAN FOR THE DEPARTMENT SAID THE DECISION TO RECEIVE IMMEDIATELY APPLICATIONS FOR 1976 SHIPMENTS AND TO EXTEND THE 28-DAY VALIDITY PERIOD WAS TAKEN TO ASSIST THOSE TRADERS WHO DID BUSINESS WITH U.K. FIRMS ON A LETTER OF CREDIT BASIS.

HE POINTED OUT THAT RECENTLY THE BANK OF ENGLAND HAD CALLED UPON CLEARING HOUSES IN THE U.K. TO APPLY STRICTLY A RULE THAT BANKS MAY OPEN IRREVOCABLE LETTERS OF CREDIT ONLY AGAINST GOODS FOR WHICH BRITISH IMPORT LICENCES WERE OBTAINED.

+THIS MAY CAUSE SOME DELAYS FOR THE HONG KONG EXPORTER, AND THAT WAS WHY WE DECIDED UPON THESE MEASURES, THE SPOKESMAN SAID.

THE SPOKESMAN ADVISED TRADERS APPLYING FOR THE HONG KONG EXPORT LICENCE TO STATE ON THEIR APPLICATIONS THE WORDS +1976 SHIPMENTS+ AND +EXEMPTION FROM APPLICATION OF CONDITION 4+.

CONDITION 4, HE EXPLAINED, CONCERNED THE 20-DAY VALIDITY PERIOD FROM WHICH THE APPLICANT IS NOW EXEMPT.

EXPORTERS NEEDING FURTHER INFORMATION ARE ASKED TO CONTACT ANY OF THE FOLLOWING OFFICERS :-

MISS N.T.Y. LAW

MR. S.K. FUNG

MR. C.K. WONG

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ASSISTANT TRADE OFFICER TIL. NO. 5-430719

INDUSTRY ASSISTANT TEL. MO. 5-446789

INDUSTRY ASSISTANT TEL. NO. 5-260672

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