WEDNESDAY, NOVEMBER 23, 1983
TOO EARLY FOR STATEMENT ON HANG LUNG BANK
***
IT WAS TOO EARL TO MAKE A MEANINGFUL STATEMENT ABOUT THE POSITION OF THE HANG LUNG BANK, WHICH THE GOVERNMENT HAD TAKEN OVER ONLY TWO MONTHS AGO, THE FINANCIAL SECRETARY, THE HON. SIR JOHN BREMRIDGE, SAID TODAY.
+BUT ITS PROBLEMS HAVE TURNED OUT TO BE GREATER AND MORE DIFFICULT TO RESOLVE THAN FIRST SEEMED LIKELY. THIS IS, I FEAR, A NORMAL EXPERIENCE IN SUCH MATTERS.
+AS WE LIFT UP STONES, FURTHER BUGS CRAWL OUT,+ SIR JOHN SAID, IN REPLY TO A QUESTION BY THE HON. RITA FAN ÎN THE LEGISLATIVE COUNCIL TODAY,
THE FINANCIAL SECRETARY SAID HE WAS GRATEFUL TO MRS FAN FOR ASKING THE QUESTION, AS IT GAVE HIM AN OPPORTUNITY TO REPEAT PART OF WHAT HE HAD SAID ON SEPTEMBER 27 WHEN HE INTRODUCED THE HANG LUNG BANK (ACQUISITION) BILL, IN THE LEGISLATIVE COUNCIL.
+ THEN SAID THAT THE GOVERNMENT STANDS BEHIND THE BANK'S DEPOSITORS AND THAT THE HANG LUNG BANK UNDER SOUND MANAGEMENT WILL IN DUE COURSE REVERT TO PRIVATE OWNERSHIP.
*THERE HAS BEEN NO CHANGE IN THIS POSITION, SIR JOHN SAID.
THE FINANCIAL SECRETARY SAID THAT HE WANTED TO MAKE THE STATEMENT AGAIN BECAUSE HE HAD BEEN TOLD THAT IN SOME QUARTERS DOUBTS HAD BEEN EXPRESSED ABOUT THE GOVERNMENT'S INTENTIONS.
+ I HOPE THAT THIS REAFFIRMATION OF THE GOVERNMENT'S STAND WILL DISPEL THOSE DOUBTS, SIR JOHN SAID.
THE FINANCIAL SECRETARY ALSO TOOK THE OPPORTUNITY TO EXPRESS GOVERNMENT'S APPRECIATION TO THE BOARD, MANAGEMENT AND STAFF OF THE HANG LUNG BANK +FOR THEIR RECENT TOILS+.
HE WAS PARTICULARLY GRATEFUL TO THE ABLE MEMBERS OF THE NEW BOARD, SIR JOHN SAID.
VIETNAMESE REFUGEES 'STILL A PROBLEM' *****
THE LEGISLATIVE COUNCIL TODAY PASSED TWO RESOLUTIONS TO EXTEND BY A FURTHER YEAR VARIOUS LEGISLATIVE POWERS TO DEAL WITH ILLEGAL IMMIGRANTS AND VIETNAMESE REFUGEES.
MOVING THE MOTIONS UNDER THE IMMIGRATION ORDINANCE AND THE MERCHANT SHIPPING ORDINANCE, THE SECRETARY FOR SECURITY, THE HON DAVID JEAFFRESON, POINTED OUT THAT THE GOVERNMENT WAS STILL FACED WITH THE PROBLEMS OF VIETNAMESE REFUGEES AND OF TRAFFICKING IN
ILLEGAL IMMIGRANTS ALTHOUGH THE ARRIVAL RATES OF BOTH CATEGORIES HAD FALLEN IN 1983.
/AMONG THE
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