XN000022-1985-07-19 — Page 19

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FRIDAY, JULY 19, 1985

REGULAR VISITS WILL ALSO BE ARRANGED FOR YOUTHS AND MEMBERS OF MUTUAL AID COMMITTEES AND OWNERS CORPORATIONS, TO TOUR THE CRIME PREVENTION BUREAU AND THE NEW YAU MA TEI POLICE STATION.

AN OPENING CEREMONY TO LAUNCH THE CRIME PREVENTION CAMPAIGN WILL BE HELD AT THE HENRY G. LEONG COMMUNITY CENTRE IN PUBLIC SQUARE STREET TOMORROW (SATURDAY) AT 2 PM.

OFFICIATING AT THE CEREMONY WILL BE THE ASSISTANT DISTRICT OFFICER, MISS SUSAN LOK AND THE POLICE DISTRICT COMMANDER, MR B.W. MUNFORD.

MORE APPLY TO START INSURANCE HERE

*****

THREE NEW COMPANIES WERE AUTHORISED TO CARRY ON INSURANCE BUSINESS IN HONG KONG IN THE FIRST HALF OF THIS YEAR, THE REGISTRAR GENERAL, MR NOEL GLEESON, SAID TODAY (FRIDAY).

AND 14 OTHER APPLICATIONS WERE RECEIVED FOR THE SETTING UP OF NEW COMPANIES, MOSTLY FROM COMPANIES INCORPORATED OVERSEAS.

THESE FIGURES, MR GLEESON SAID, REFLECTED INCREASING OVERSEAS INTEREST IN HONG KONG'S INSURANCE MARKET.

AMONG THE REQUESTS RECEIVED WERE FIVE FROM THE UNITED KINGDOM, TWO FROM BERMUDA, TWO FROM THE PHILIPPINES, ONE FROM THE UNITED STATES, ONE FROM FRANCE AND ONE FROM THE ISLE OF MAN.

AS THE INSURANCE COMPANIES ORDINANCE PRESCRIBES STRICT REQUIREMENTS FOR AUTHORISATION, APPLICATIONS FROM NEW COMPANIES HAD TO BE CAREFULLY CONSIDERED BEFORE THEY WERE AUTHORISED TO COMMENCE BUSINESS, MR GLEESON EXPLAINED.

FOUR EXISTING INSURANCE COMPANIES WERE AUTHORISED TO EXTEND THEIR CLASSES OF BUSINESS HERE.

MR GLEESON ALSO SAID THAT DURING THE PERIOD HE HAD EXERCISED HIS POWERS OF INTERVENTION ON TEN INSURANCE COMPANIES FOR THE BETTER PROTECTION OF POLICY HOLDERS.

THESE INTERVENTIONARY