XN000022-1987-06-12 — Page 6

5

FRIDAY, JUNE 12, 1987

SPECIALISED NATURE AND THE APPOINTMENT OF SUCH THE PROPER DEVELOPMENT

THE SPOKESMAN ADDED THAT GIVEN THE INCREASING COMPLEXITY OF COMMODITY FUTURES, PERSONS WOULD BENEFIT THE COMMISSION AND THE FUTURES INDUSTRY IN HONG KONG.

OF

"IT IS NOTEWORTHY THAT THERE IS NO SUCH RESTRICTION RELATING

+ HE SAID. TO THE SECURITIES COMMISSION IN THE SECURITIES ORDINANCE,

USING

THE SPOKESMAN POINTED OUT THAT AS A SAFEGUARD AGAINST ANY IMPROPER USE OF INFORMATION, THE BILL ALSO PROPOSES TO AMEND SECTION 11(1) OF THE ORDINANCE TO PROHIBIT ANY PERSON FROM

INFORMATION OBTAINED IN THE COURSE OF EXERCISING ANY

FUNCTIONS UNDER THE ORDINANCE FOR GAIN OR AVOIDANCE OF LOSS.

DUTIES OR

OF

FOR

COMMISSIONER

BE PROHIBITED

"CIVIL SERVANTS IN THE OFFICE

THE

то WILL CONTINUE SECURITIES AND COMMODITIES TRADING WILL FROM TRADING IN COMMODITY FUTURES," HE SAID.

THE COMMODITIES TRADING (AMENDMENT) BILL 1987 IS EXPECTED TO BE INTRODUCED INTO THE LEGISLATIVE COUNCIL ON JUNE 17.

COMMENTS ON THE BILL MAY BE SENT TO THE OFFICE OF

AT TWO EXCHANGE COMMISSIONER FOR SECURITIES AND COMMODITIES TRADING SQUARE OR THE OMELCO OFFICE AT JACKSON ROAD.

THE

BILL TO ENSURE QUALITY INSURANCE MARKET PROPOSED

PROPOSED LEGISLATION

OVER

AIMED AT

ENTRY TO THE

ABOUT BRINGING LOCAL INSURANCE

A

QUALITY CONTROL PUBLISHED IN THE GAZETTE TODAY (FRIDAY).

MEANINGFUL

MARKET WAS

OF THE INSURANCE A GOVERNMENT SPOKESMAN SAID THE MAIN OBJECT

BILL 1987 IS TO GIVE THE INSURANCE

COMPANIES (AMENDMENT) (NO. 2)

AUTHORITY A DISCRETIONARY POWER TO REFUSE AN APPLICATION BY A COMPANY TO BE AN AUTHORISED INSURER ON A GROUND NOT SPECIFIED IN SECTION 8(2) AND (3) OF THE INSURANCE COMPANIES ORDINANCE.

/HE SAID