XN000022-1985-02-14 — Page 7

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THURSDAY, FEBRUARY 14, 1935

EXPORT LICENCE RULES EXPLAINED

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THE TRADE DEPARTMENT TODAY REMINDED EXPORTERS AND MANUFACTURERS, PARTICULARLY QUOTA-SUPPLIERS, THAT THEY SHOULD ENSURE THAT LICENSED QUANTITIES ARE WHOLLY SHIPPED.

SHORT-SHIPMENTS IN RESPECT OF EACH EXPORT LICENCE MUST BE REPORTED TO THE DEPARTMENT WITHIN TWO WEEKS AFTER THE DAY ON WHICH THE GOODS ARE EXPORTED.

AN EXPORT LICENCE NOT USED WITHIN ITS VALIDITY PERIOD MUST BE CANCELLED WITHIN TWO WEEKS AFTER THE EXPIRY DATE.

FAILURE TO COMPLY WITH THE CONDITIONS MAY RESULT IN PENALTIES, INCLUDING PERMANENT SURRENDER OF QUOTA AND DEBARMENT OF THE COMPANIES CONCERNED FROM PARTICIPATION IN FUTURE TEXTILE EXPORT CONTROL SCHEMES.

DETAILS ARE CONTAINED IN A RECENTLY-PUBLISHED NOTICE TO EXPORTERS WHICH IS AVAILABLE AT THE ENQUIRIES SECTION OF THE TRADE DEPARTMENT, GROUND FLOOR, OCEAN CENTRE, CANTON ROAD, KOWLOON.

BIG RISE IN INSOLVENCIES BEING HANDLED

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A TOTAL OF 1 746 INSOLVENCIES WAS BEING HANDLED BY THE OFFICIAL RECEIVER'S OFFICE AT THE END OF LAST YEAR, ACCORDING TO STATISTICS RELEASED TODAY BY THE REGISTRAR GENERAL'S DEPARTMENT.

THESE INVOLVED 1 128 COMPANY LIQUIDATIONS AND 618 PERSONAL BANKRUPTCIES, SHOWING AN INCREASE OF 31 PER CENT OVER THE FIGURES AT THE END OF 1983, WHEN THERE WERE 1 326 INSOLVENCIES -- 864 OF THEM BEING COMPANY LIQUIDATIONS AND 462 PERSONAL BANKRUPTCIES.

DURING 1984 THE OFFICIAL RECEIVER WAS APPOINTED LIQUIDATOR IN 315 NEW COMPANY LIQUIDATIONS AND 187 NEW PERSONAL BANKRUPTCIES.

THIS REPRESENTED A COMBINED INCREASE OF 20.4 PER CENT IN THE NUMBER OF NEW INSOLVENCIES OVER 1983, WHICH SAW 280 NEW COMPANY LIQUIDATIONS AND 137 NEW PERSONAL BANKRUPTCIES.

BY COMPARISON THERE WAS A 35.4 PER CENT INCREASE IN THE NUMBER OF NEW INSOLVENCIES IN 1983 OVER 1982.

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IT COULD BE SEEN, THEREFORE, THAT WHILE THE RATE OF NEW INSOLVENCIES WAS STILL INCREASING THE RATE OF INCREASE HAD SLOWED DOWN, MR NOEL GLEESON, REGISTRAR GENERAL, SAID.

FUNDS HOLD

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