XN000022-1988-03-09 — Page 10

WEDNESDAY, MARCH 9, 1988

8

AFFORDING

"D.B. ASIA HAS A SUBSTANTIAL BANKING PRACTICE IN HONG KONG

IN

CERTAINTY AND SECURITY HONG KONG HAS AN INTEREST

HE ADDED. BUSINESS TO INTERNATIONAL BANKS OPERATING HERE,

71

MR LI SAID THE BILL WAS NOT WITHOUT PRECEDENT. IT WAS ON THE LLOYDS BANK (MBRGER) ORDINANCE 1985 BY WHICH EFFECT

UNDER ENGLISH LAW OF IN HONG KONG TO THE MERGER LLOYDS BANK INTERNATIONAL.

AND

OF

MODELLED WAS GIVEN AND

LLOYDS BANK

AND

HE ALSO SAID THAT NO STAMP DUTY WOULD BE SAVED BY THE BILL

AVOID STAMP THERE WAS NO INTENTION BY D.B. ASIA AND DEUTSCHE BANK TO DUTY BY MEANS OF IT.

0

-

AMENDMENTS TO ROYAL INSTRUCTIONS PROPOSED

THE GOVERNMENT PROPOSES THAT INSTRUCTIONS SHOULD BE AMENDED.

PROVISIONS THREE

THE IN

ROYAL

GENERAL,

THE

TOLD

THE

HON THE ATTORNEY LEGISLATIVE COUNCIL TODAY (WEDNESDAY) THE THE DATE OF DISSOLUTION OF THE COUNCIL.

THOMAS, MICHAEL

FIRST AMENDMENT CONCERNED

THE HE SAID ROYAL INSTRUCTION XXVIIIA AT PRESENT PROVIDED THAT

DISSOLVED

DAY ON THE NINETIETH "SHALL STAND LEGISLATIVE COUNCIL

FIRST SITTING OF THE COUNCIL BEFORE THE THIRD ANNIVERSARY OF THE

ALL THE ELECTED MEMBERS OF THE FOLLOWING THE LATEST ELECTION FOR COUNCIL".

THAT,

IN

THIS PARTICULAR

THE YEAR, HONG KONG WOULD

THIS MEANT, IN EFFECT, COUNCIL WOULD HAVE TO DISSOLVE ON AUGUST 1 AND THAT THEN BE WITHOUT A LEGISLATIVE COUNCIL FOR NEARLY THREE MONTHS.

"THE PROVISION HAS A NUMBER OF DRAWBACKS,

"

MR THOMAS SAID.

"FIRST, IT ALLOWS NO FLEXIBILITY

COUNCIL TO DISSOLVE.

IN FIXING A DATE FOR THE

ROYAL "SECONDLY, WHEN TAKEN TOGETHER WITH THE PROVISION IN THE

THE BETWEEN

LAST SITTING OF THE INSTRUCTION XXIA THAT THE PERIOD

SESSION SHALL NOT EXCEED SESSION AND THE FIRST SITTING OF THE NEXT

OVER TIME, THE THREE MONTHS, IT GIVES RISE TO THE SITUATION WHEREBY, OPENING DATE FOR BACH NEW SESSION TENDS TO CREEP FURTHER FORWARD.

"THIS RESULTS IN FURTHER DIFFICULTIES IN KEEPING TO OUR

WHICH ENVISAGES ELECTIONS IN

ELECTORAL CYCLE RESUMPTION OF THE COUNCIL IN EARLY TO MID-OCTOBER.

SEPTEMBER

NORMAL AND A

/THIRDLY, AND

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