XN000022-1988-01-02 — Page 2

SATURDAY, JANUARY 2, 1988

STATEMENT BY THE FINANCIAL SECRETARY, MR PIERS JACOBS

THE

THAT

FROM THE

IN THE LIGHT OF DEVELOPMENTS THIS (SATURDAY) MORNING, GOVERNMENT HAS PROPOSED TO THE COMMITTEE OF THE STOCK EXCHANGE CERTAIN MEMBERS OF THE COMMITTEE SHOULD DISTANCE THEMSELVES MANAGEMENT OF THE STOCK EXCHANGE UNTIL SUCH TIME AS INDEPENDENT COMMISSION AGAINST CORRUPTION'S INVESTIGATIONS COMPLETED.

"THE COMMITTEE OF THE STOCK EXCHANGE AT A MEETING MORNING VESTED ITS POWERS UNTIL FURTHER NOTICE IN A COMMITTEE OF THE EXCHANGE, WITH MR ROBERT FELL EXERCISING OF CHIEF EXECUTIVE UNDER THE CONSTITUTION OF EXCHANGE.

THE HAVE BEEN

HELD THIS

MANAGEMENT

THE POWERS

"THE SECURITIES COMMISSION MET AT 11.15 THIS MORNING AND SUPPORTS THE ACTION TAKEN BY THE STOCK EXCHANGE COMMITTEE.

"THE EXECUTIVE COUNCIL MET THIS MORNING AND IS SATISFIED

WITH THE ACTION TAKEN.

"THE MARKET WILL BE OPEN FOR BUSINESS AS USUAL ON MONDAY

MORNING.

中

TAC MEETS PLB AND BUS OPERATORS

MEMBERS OF THE TRANSPORT ADVISORY COMMITTEE (TAC) TODAY (SATURDAY) MET SEPARATELY WITH REPRESENTATIVES OF PUBLIC LIGHT BUS OPERATORS AND FRANCHISED BUS COMPANIES TO HEAR THEIR VIEWS ON THE ISSUES OF SEATING CAPACITY FOR PUBLIC LIGHT BUSES AND THE ROLE AND OPERATION OF MIDIBUS SERVICES.

THE TAC MET 48 REPRESENTATIVES FROM GREEN MINIBUS OPERATORS AND 13 REPRESENTATIVES FROM RED MINIBUS ASSOCIATIONS, AS WELL AS REPRESENTATIVES FROM THE THREE FRANCHISED BUS COMPANIES.

IN ORDER TO OBTAIN A FULL UNDERSTANDING OF THE BACKGROUND FOR PLB OPERATORS' REQUEST FOR AN INCREASE IN SEATING CAPACITY FOR PLB'S, THE COMMITTEE LISTENED TO THEIR VIEWS ON THE MAJOR PROBLEMS IN THE OPERATIONS OF GREEN MINIBUS AND RED MINIBUS SERVICES AND HOW ADDITIONAL SEATING CAPACITY WOULD RESOLVE SUCH PROBLEMS, THE BENEFITS OF ADDITIONAL SEATING CAPACITY WOULD LIKELY BRING THE OPERATORS THEMSELVES, THE POSSIBLE EFFECT ON AND THE IMPLICATIONS ON FARE LEVELS.

ΤΟ PASSENGERS AND TRAFFIC OBSTRUCTION

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