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SUNDAY, OCTOBER 25, 1987
THE FINANCIAL SECRETARY POINTED OUT
THAT THIS SITUATION HAD BEEN FORCED ON THE GOVERNMENT AS A RESULT OF THE SHARP DOWNTURN IN WORLD EQUITY MARKETS.
"AS SOON AS IT WAS APPARENT THAT THERE WAS A SERIOUS PROBLEM, THE GOVERNMENT APPOINTED EXPERT OUTSIDE ADVISERS, HAMBROS BANK, AND THESE MEASURES HAVE BEEN DEVELOPED WITH THEIR ASSISTANCE, HE SAID.
"THESE PROPOSALS HAVE THE FULL SUPPORT OF THE SECURITIES COMMISSION AND THE COMMODITIES TRADING COMMISSION.
"A NUMBER OF MAJOR LOCAL INVESTORS HAVE ALSO EXPRESSED THEIR SATISFACTION WITH THE PROPOSALS AND PLEDGED THEIR SUPPORT, HE ADDED.
MR JACOBS POINTED OUT THAT THESE ARRANGEMENTS HAVE BEEN PUT TOGETHER IN A VERY SHORT TIME AND REFLECTED THE FULL CO-OPERATION OF ALL INVOLVED.
**
* 'WE ARE ALL DETERMINED TO RE-OPEN THE STOCK EXCHANGE AND THE FUTURES EXCHANGE FOR THE RESUMPTION OF ORDERLY BUSINESS TOMORROW, HE STRESSED.
MR JACOBS ALSO ANNOUNCED THAT DR KIM CHAM AND DR RONALD LI HAD TODAY RESIGNED AS CHAIRMAN AND VICE-CHAIRMAN RESPECTIVELY OF THE HONG KONG FUTURES EXCHANGE LTD, BUT WOULD REMAIN AS DIRECTORS.
"MR WILFRID NEWTON, CHAIRMAN OF THE MASS TRANSIT RAILWAY CORPORATION, HAS BEEN APPOINTED CHAIRMAN BY THE BOARD.
"DETAILED ARRANGEMENTS FOR THE RE-OPENING OF THE FUTURES EXCHANGE WILL BE ANNOUNCED, HE ADDED.
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FREE LEGAL ADVICE SCHEME POPULAR
MORE THAN 15,000 PEOPLE HAVE SOUGHT ASSISTANCE DURING THE FIRST SIX MONTHS OF THIS YEAR FROM THE FREE LEGAL ADVICE SCHEME JOINTLY ORGANISED BY THE CITY AND NEW TERRITORIES ADMINISTRATION AND THE LAW SOCIETY, A CNTA SPOKESMAN SAID TODAY (SUNDAY).
AMONG THEM, 1,360 PEOPLE WERE GIVEN FREE CONSULTATIONS WITH DUTY LAWYERS UNDER THE SCHEME, THE SPOKESMAN SAID.
/THE SCHEME,
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