XN000022-1987-06-24 — Page 9

7

I

WEDNESDAY, JUNE 24, 1987

MR FORD SAID IT ALSO

AUTHORITY

ORDINANCE FUNCTIONS FROM TO THE

TURNING TO OTHER ASPECTS OF THE BILL, MADE A NUMBER OF CONSEQUENTIAL AMENDMENTS TO THE TELEVISION AND THE SUBSIDIARY LEGISLATION TO TRANSFER POWERS AND

BOARD AND TELEVISION THE TELEVISION ADVISORY BROADCASTING AUTHORITY.

THAT

THE

THE

"SECTION 13(1) OF THE TELEVISION ORDINANCE, REQUIRES TERMS AND CONDITIONS OF NEW LICENCES WILL HAVE TO BE SUBMITTED TO

THE EXPIRY DATE OF EXECUTIVE COUNCIL FOR APPROVAL 12 MONTHS BEFORE THE EXISTING LICENCES WHICH IS ON DECEMBER 31, 1988.

AS SOON "IT IS, THEREFORE, NECESSARY THAT THE BILL BE ENACTED

AUTHORITY ΤΟ START WORK ON AS POSSIBLE TO ENABLE THE BROADCASTING

TELEVISION DRAWING UP THE TERMS FOR THE RENEWAL OF THE TWO COMMERCIAL LICENCES, HE SAID.

**

PROPOSAL TO CHANGE AUDIT REQUIREMENT OF LIQUIDATORS' ACCOUNTS

BILL 1987

AMEND IS TO

LIQUIDATORS,

THE

THE OF

RECEIVER OFFICIAL THE

ACTING FINANCIAL COUNCIL

THE COMPANIES (AMENDMENT) (NO.2) COMPANIES ORDINANCE IN RELATION TO THE ACCOUNTS FUNDS OF COMPANIES IN LIQUIDATION INVESTED BY AND THE FEES PAYABLE IN WINDING UP PROCEEDINGS, THE

NENDICK SAID IN SECRETARY, THE HON DAVID TODAY (WEDNESDAY).

THE LEGISLATIVE

UNDER COMPANIES IN BY THE OFFICIAL AND WAS IN MANY

MOVING THE SECOND READING OF THE AMENDMENT BILL, HE SAID THE COMPANIES ORDINANCE, ALL ACCOUNTS OF LIQUIDATORS OF COMPULSORY LIQUIDATIONS WERE REQUIRED TO BE AUDITED RECEIVER. AND THIS HAD BECOME VERY CASES UNNECESSARY.

TIME-CONSUMING

2 CLAUSE

OF THE ACCOUNTS

"TO REMEDY THE SITUATION, OFFICIAL RECEIVER'S AUDIT OF LIQUIDATORS' RATHER THAN A MANDATORY REQUIREMENT.

THE

MAKES BILL A DISCRETIONARY

UNDER WHICH BETWEEN

BESIDES, CLAUSE 4 OF THE BILL AMENDED SECTION 295 INTEREST ON INVESTMENTS OF MORE THAN $100,000 WAS APPORTIONED THE COMPANY IN LIQUIDATION AND GENERAL REVENUE.

/THE PRELENT