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FRIDAY, DECEMBER 30, 1977

Y.H. KAN RE-APPOINTED CHAIRMAN OF THE SECURITIES COMMISSION

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THE ACTING GOVERNOR HAS RE-APPOINTED MR. Y.H. KAN AS CHAIRMAN OF THE SECURITIES COMMISSION FOR A FURTHER TWO YEARS FROM MARCH 1 NEXT YEAR.

MR. KAN WAS APPOINTED CHAIRMAN OF THE SECURITIES ADVISORY COUNCIL WHEN IT WAS SET UP EARLY IN 1973 AND HE WAS LATER APPOINTED AS FIRST CHAIRMAN OF THE SECURITIES COMMISSION WHEN IT WAS ESTABLISHED IN FEBRUARY, 1974. THE CHAIRMAN OF THE SECURITIES COMMISSION IS ALSO CHAIRMAN OF THE COMMODITIES TRADING COMMISSION AND MR. KAN WILL CONTINUE TO HOLD THAT APPOINTMENT ALSO.

COMMENTING ON MR. KAN'S RE-APPOINTMENT AS CHAIRMAN OF THESE TWO COMMISSIONS, THE FINANCIAL SECRETARY, MR. PHILIP HADDON-CAVE, SAID THAT THE GOVERNMENT WAS MOST GRATEFUL TO MR. KAN FOR HIS SERVICES TO THE SECURITIES INDUSTRY DURING THE PAST FIVE EVENTFUL YEARS.

HE ADDED: +1 AM SURE MR. KAN'S RE-APPOINTMENT FOR A FURTHER TWO YEARS WILL BE GREATLY WELCOMED BY ALL CONCERNED IN THE MARKET. +

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