XN000022-1984-07-24 — Page 26

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TUESDAY, JULY 24, 1984

THE SPOKESMAN ADDED THAT UPON THE CREATION OF THE NEW TRADING ENTITIES, THE ASSOCIATE MEMBERSHIP WILL BE ABOLISHED AND +DEEDS OF TRUST+ WILL NO LONGER BE ALLOWED.

THE SPOKESMAN SAID THAT THE RELAXATION ON TYPES OF MEMBERSHIP AND PARTNERSHIP OF MEMBERS WILL PROVIDE FLEXIBILITY TO MEET THE CHANGING NEEDS OF THE SECURITIES MARKET.

THESE RECOMMENDATIONS WILL REQUIRE AMENDMENTS TO THE SECURITIES AND STOCK EXCHANGES UNIFICATION ORDINANCES AND TO THE SECURITIES (DEALERS, INVESTMENT ADVISERS AND REPRESENTATIVES) REGULATIONS AND SECURITIES (ACCOUNTS AND AUDIT) REGULATIONS. STOCK EXCHANGE COMPENSATION FUND REGULATIONS WILL ALSO HAVE TO BE PREPARED. THE SPOKESMAN ANTICIPATED THAT THE AMENDING LEGISLATION WILL BE ENACTED IN EARLY 1985.

VIEWS TO BE SOUGHT ON TRANSPORT VIABILITY

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THE GOVERNMENT AIMS TO INVITE PUBLIC DISCUSSION ON THE FINANCIAL VIABILITY OF ALL MODES OF PUBLIC TRANSPORT AT THE END OF THIS YEAR, THE SECRETARY FOR TRANSPORT, MR ALAN SCOTT, DISCLOSED TODAY.

FOR OVER A YEAR, HE SAID, THE TRANSPORT BRANCH HAD CLOSELY EXAMINED QUESTIONS SUCH AS THE COMPARISON BETWEEN MTR AND BUS FARES, THE COMMUNITY'S DIRECT AND INDIRECT CONTRIBUTIONS TOWARDS THE TOTAL COSTS OF PROVIDING MTR AND BUS SERVICES AND THE OVERALL ECONOMIC BENEFITS.

SPEAKING AT THE LUNCHEON MEETING OF THE ROTARY CLUB OF HONG KONG, MR SCOTT POINTED OUT THAT THE GOVERNMENT WAS COMMITTED TO ENSURING ADEQUATE, INTEGRATED PUBLIC TRANSPORT, WITH A REASONABLE CHOICE AND LEVELS OF FARES.

HE NOTED: +BUT IT IS FAIR AND NECESSARY THAT THE VARIOUS SECTORS OF THE TRAVELLING PUBLIC AND THE COMMUNITY AS A WHOLE SHOULD BE AWARE OF WHO IS PAYING FOR WHAT.

+ IT IS OUR AIM BEFORE THE END OF THIS YEAR, TO PUBLISH A PAPER ON THESE ISSUES FOR PUBLIC DISCUSSION WITH A NUMBER OF POSSIBLE COURSES OF ACTION FOR CONSIDERATION. +

HE SAID HE BELIEVED THAT THE MOST IMPORTANT PRESENT TASK OF TRANSPORT BRANCH AND TRANSPORT DEPARTMENT WAS TO ASSIST THE COMMUNITY AT ALL LEVELS, IN PARTICULAR AT DISTRICT BOARD LEVEL, TO UNDERSTAND THE BROAD ISSUES AS WELL AS THE LOCAL ISSUES BEFORE THEY TOOK A VIEW ON TRANSPORT MATTERS.

/MR SCOTT .**