XN000022-1983-02-16 — Page 2

WEDNESDAY, FEBRUARY 16, 1983

REGISTRATION OF CURRENT FINANCE LTD REVOKED

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THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES, MR COLIN MARTIN, TODAY REVOKED THE REGISTRATION OF CURRENT FINANCE LIMITED AS A DEPOSIT-TAKING COMPANY, ON THE GROUNDS THAT THE COMPANY HAS CEASED TO CARRY ON A BUSINESS OF TAKING DEPOSITS.

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IN ADDITION, MR MARTIN ANNOUNCED THAT HE HAS LIFTED THE SUSPENSION OF THE REGISTRATION OF FIRST HONG KONG CREDIT LIMITED AS A DEPOSIT-TAKING COMPANY. THE COMPANY'S REGISTRATION WAS SUSPENDED ON FEBRUARY 1 BECAUSE IT HAD FAILED TO MAINTAIN THE MINIMUM LEVEL OF SPECIFIED LIQUID ASSETS REQUIRED BY LAW DURING DECEMBER 1982. HOWEVER, DURING THE PERIOD OF SUSPENSION, THE COMPANY WAS ABLE TO ADJUST ITS LIQUID POSITION AND IS NOW ABLE TO MEET THE MINIMUM LEVEL OF LIQUIDITY REQUIRED BY LAW.

APPOINTMENT OF DISTRICT JUDGE

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THE GOVERNOR HAS APPROVED THE APPOINTMENT OF MR ERIC LI HUNG- SHING AS DISTRICT JUDGE WITH EFFECT FROM FEBRUARY 7.

MR LI WAS BORN IN HONG KONG IN 1939. HE WAS EDUCATED AT NEW METHOD COLLEGE IN HONG KONG AND AT THE UNIVERSITY OF LONDON. HE WAS CALLED TO THE BAR AT LINCOLN'S INN IN 1960.

HE SPENT SOME YEARS IN PRIVATE PRACTICE UNTIL HE WAS APPOINTED MAGISTRATE IN HONG KONG IN 1966. HE WAS APPOINTED CROWN COUNSEL IN 1968 AND PROMOTED TO SENIOR CROWN COUNSEL IN 1972. IN 1977 HE WAS APPOINTED AS PRESIDING OFFICER, LABOUR TRIBUNAL.

RECLAMATION IN MA ON SHAN ***

THE GOVERNMENT INTENDS TO USE THE WAN TSAI PENINSULA AT THE NORTHERN TIP OF TOLO CHANNEL AS A BORROW AREA FOR RECLAMATION WORKS TO BE CARRIED OUT IN MA ON SHAN.

A GOVERNMENT SPOKESMAN SAID THAT THE LAND TO BE FORMED IN MA ON SHAN WAS AN ESSENTIAL PART OF THE GOVERNMENT LAND PRODUCTION PROGRAMME AND FORMED PART OF THE SHA TIN NEW TOWN STAGE || DEVELOPMENT.

HE SAID, IT WILL PROVIDE SITES IN THE AREA FOR PUBLIC AND PRIVATE HOUSING, TOWN CENTRE, RECREATIONAL AND GOVERNMENT INSTITUTIONAL AND COMMUNITY PURPOSES.+

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