XN000022-1986-01-02 — Page 2

THURSDAY, JANUARY 2, 1986

WAR MEMORIAL FUND SELECT COMMITTEE NAMED

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THE GOVERNOR AS PRESIDENT OF THE LEGISLATIVE COUNCIL HAS NOMINATED MR CHAN KAM-CHUEN AS CHAIRMAN OF THE SELECT COMMITTEE OF THE HONG KONG WAR MEMORIAL FUND.

THE COMMITTEE WAS APPOINTED BY THE COUNCIL ON DECEMBER 4 1985 TO CONSIDER THE ADMINISTRATION OF THE FUND AND TO MAKE RECOMMENDATIONS ON ITS FUTURE ADMINISTRATION SO THAT IT WOULD BE FAIR TO THE FORMER PRISONERS OF WAR, OTHER BENEFICIARIES AND TO THE PUBLIC.

OTHER MEMBERS OF THE COMMITTEE ARE UNOFFICIAL COUNCILLORS MR JOHN SWAINE QC, MR YEUNG PO-KWAN, MR HUI YIN-FAT, MR LAU WONG-FAT AND MR MARTIN LEE QC, AND THE SECRETARY FOR TRANSPORT, MR IAN MACPHERSON.

THE FIRST MEETING WILL BE ON SATURDAY (JANUARY 4) AT 9 AM AT THE LEGISLATIVE COUNCIL BUILDING, CHATER ROAD, CENTRAL.

NOTE TO EDITORS:

THERE WILL BE A THREE-MINUTE PHOTO-CALL FOR THE FIRST MEETING AFTER WHICH THE SELECT COMMITTEE WILL MEET IN PRIVATE.

LLOYDS BANK GRANTED BUSINESS LICENCE

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LLOYDS BANK PLC, A RECOGNISED BANK INCORPORATED IN THE UNITED KINGDOM, HAS BEEN GRANTED A LICENCE TO CONDUCT BUSINESS IN HONG KONG.

A GOVERNMENT SPOKESMAN SAID TODAY (THURSDAY) THAT THE APPROVAL WAS GIVEN FOLLOWING THE MERGING OF THE LLOYDS BANK PLC (LLOYDS) WITH ITS WHOLLY OWNED SUBSIDIARY, LLOYDS BANK INTERNATIONAL LTD (LBI) BY VESTING THE LATTER'S UNDERTAKING IN THE FORMER.

+LBI ALREADY POSSESSED A BANKING LICENCE WHICH WAS GRANTED IN 1978 TO OPERATE A BRANCH IN HONG KONG BUT AS THERE IS CURRENTLY NO PROV IS ION UNDER THE BANKING ORDINANCE FOR A LICENCE TO BE TRANSFERRED, A FRESH APPLICATION HAD TO BE MADE, HE SAID.

THEREFORE, THE LICENCE FOR LLOYDS WAS GRANTED ON CONDITION THAT THE EXISTING LICENCE GRANTED TO LBI WOULD BE REVOKED, THE SPOKESMAN SAID.

/THE SPOKESMAN