XN000022-1987-06-11 — Page 7

6

THURSDAY, JUNE 11, 1987

THE

BROADCASTING

AUTHORITY BILL

1987 19

то EXPECTED

BE

INTRODUCED INTO THE LEGISLATIVE COUNCIL ON JUNE 24, 1987.

COMMENTS ON THE BILL MAY BE SENT ΤΟ THE SECRETARY FOR ADMINISTRATIVE SERVICES AND INFORMATION AT CENTRAL GOVERNMENT OFFICES OR THE OMELCO OFFICE AT JACKSON ROAD.

+

PRIVY COUNCIL DISMISSES APPEAL

THAT THE THE JUDICIAL COMMITTEE OF THE PRIVY COUNCIL HAS HELD

NO DUTY OF CARE ΤΟ COMMISSIONER FOR DEPOSIT-TAKING COMPANIES OWED

HIS SUPERVISORY DUTIES

POTENTIAL

WHEN EXERCISING DEPOSITORS CONTROL DEPOSIT-TAKING COMPANIES.

ΤΟ

10), THE

KONG

IN A JUDGMENT HANDED DOWN YESTERDAY (WEDNESDAY, JUNE

FOUR HONG BROUGHT BY PRIVY COUNCIL DISMISSED THE APPEAL

COMPANY. RESIDENTS IN A CASE INVOLVING A COLLAPSED DEPOSIT-TAKING

FOR

AS

MR MICHAEL THOMAS Q.C.. THE ATTORNEY GENERAL,

APPEARED

BEHALF

THE OF

COMMISSIONER

DEPOSIT-TAKING LEADING COUNSEL ON

THE COURT OF APPEAL COMPANIES IN THE APPEAL AGAINST A DECISION OF (YUEN KUN-YEU AND OTHERS VS AG) DECIDED IN MARCH 1986.

THIS IS THE FIRST TIME IN MEMORY THAT AN HONG KONG HAS ARGUED A CASE IN THE PRIVY COUNCIL.

ATTORNEY GENERAL OF

MR PIERS THIS

COMMENTING ON THE JUDGMENT, THE FINANCIAL SECRETARY, JACOBS, SAID: "I AM VERY PLEASED TO LEARN OF THE RESULT. CLEARLY

IN RELATION ΤΟ 1TS DECISION IS OF IMPORTANCE TO THE ADMINISTRATION VARIOUS REGULATORY ROLES."

THE

THE COMMISSIONER OF BANKING, MR ROBERT FELL, ALSO WELCOMED

FROM OUR EXPERIENCE DECISION. HE SAID: "WE HAVE LEARNT A GREAT DEAL

AND SUPERVISORY OVER THE LAST FEW YEARS AND BOTH THE LEGAL FRAMEWORK

NEEDS AS A WORLD PRACTICE HAVE BEEN OVERHAULED TO MEET HONG KONG'S BANKING CENTRE.

/"NEVERTHELESS, THE