XN000022-1985-03-13 — Page 27

WEDNESDAY, MARCH 13, 1985

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ASSURANCE GIVEN ON DB WORK

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THE SECRETARY FOR DISTRICT ADMINISTRATION, MR DONALD LIAO TODAY ASSURED THE LEGISLATIVE COUNCIL THAT EVERYTHING POSSIBLE WOULD BE DONE TO ENSURE THAT DISTRICT BOARDS CONTINUED TO FUNCTION EFFECTIVELY,

+DISTRICT OFFICERS HAVE A DUTY TO PROVIDE UNOFFICIAL DISTRICT BOARD MEMBERS WITH ALL THE NECESSARY INFORMATION ON ANY MATTER THAT MAY COME BEFORE THE BOARD, + MR LIAO SAID.

IN REPLY TO A QUESTION BY THE HON CHAN YING-LUN, ON THE DISCLOSURE OF BOTH CLASSIFIED AND UNCLASSIFIED GOVERNMENT INFORMATION TO UNOFFICIAL DISTRICT BOARD MEMBERS, MR LIAO SAID: +IT WOULD DEPEND ON THE CIRCUMSTANCES, BUT IN GENERAL, SUCH INFORMATION WOULD BE PROVIDED WHERE IT WAS NECESSARY,

WAS NECESSARY, AND WHERE THE PUBLIC INTEREST WOULD NOT BE PREJUDICED.+

ACTION TAKEN AGAINST FIRMS FOR ACCOUNTS OFFENCE

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EIGHT PUBLICLY LISTED COMPANIES AND THEIR DIRECTORS HAD BEEN PROSECUTED BY THE REGISTRAR OF COMPANIES DURING THE PRESENT FINANCIAL YEAR FOR NOT SUBMITTING THEIR ACCOUNTS OR REPORTS IN TIME, THE SECRETARY FOR ECONOMIC SERVICES, THE HON PIERS JACOBS, SAID TODAY.

THERE HAD BEEN CONVICTIONS IN FIVE CASES, COMPRISING 104 SUMMONSES. ONE CASE HAD BEEN WITHDRAWN, AND TWO CASES WHICH WERE BEING DEFENDED, HAD BEEN ADJOURNED, HE SAID.

HE WAS REPLYING TO A QUESTION BY THE HON KEITH LAM AS TO WHAT ACTION HAD BEEN TAKEN TO SANCTION PUBLICLY LISTED COMPANIES THAT DID NOT SUBMIT THE IR ACCOUNTS OR REPORTS, AND WHETHER ANY COMPANY OFFICIALS HAD BEEN PROSECUTED OR ANY COMPANY HAD BEEN SUSPENDED FROM TRADING FOR THE OFFENCE.

THE SANCTIONS AVAILABLE, MR JACOBS SAID, WERE CONTAINED IN THE COMPANIES ORDINANCE AND ENFORCED BY A PROSECUTION SECTION IN THE COMPANIES REGISTRY OF THE REGISTRAR GENERAL'S DEPARTMENT.

+ IN THE EVENT OF A COMPANY'S FAILURE TO COMPLY WITH THE RELEVANT PROVISIONS BOTH THE COMPANY ITSELF AND THE DIRECTORS ARE PROSECUTED.

+THE MAXIMUM PENALTY NOW PROVIDED BY THE COMPANIES ORDINANCE IS A FINE OF $10 000 OR SIX MONTHS' IMPRISONMENT.

+THE SANCTION OF SUSPENSION FROM TRADING IS NOT AVAILABLE,+ HE SAID.

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