XN000022-1988-03-31 — Page 6

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THURSDAY, MARCH 31, 1988

CLOSE

INTER-RELATIONSHIP

THE SPOKEMAN SAID THAT GIVEN THE BETWEEN THE SECURITIES AND OTHER FINANCIAL MARKETS, THESE PROPOSED AMENDMENTS WOULD GREATLY FACILITATE THE TRANSFER OF INFORMATION OBTAINED BY PUBLIC OFFICERS IN THE COURSE OF CARRYING OUT THEIR STATUTORY DUTIES UNDER THE SECURITIES ORDINANCE TO BETTER REGULATION OF THE FINANCIAL MARKETS.

P

OTHER

BODIES FOR

THE PROPOSALS ΤΟ PASS INFORMATION TO OVERSEAS REGULATORY AUTHORITIES AND ORGANISATIONS WOULD ALSO BENEFIT HONG KONG THROUGH MALPRACTICES COULD ENHANCED INTERNATIONAL CO-OPERATION WITHOUT WHICH GO UNDETECTED MORE EASILY.

IT

THE SPOKESMAN STRESSED THAT THE PROPOSALS CONTAINED IN THE AMEMDMENT BILL WOULD NOT ERODE THE SECRECY PROVISIONS.

"WHERE INFORMATION IS DISCLOSED TO PUBLIC OFFICIALS OR OTHER

COMMISSIONER FOR SECURITIES BODIES, EITHER THE COMMISSION OR

WOULD

HAVE TO BE SATISFIED THAT

DESIRABLE OR EXPEDIENT THAT THE INFORMATION SHOULD BE SO DISCLOSED, THE SPOKESMAN SAID.

IT IS

"THE SECURITIES COMMISSION/COMMISSIONER WILL EXAMINE CAREFULLY

HE ADDED. THE REASONS BEHIND EVERY APPLICATION FOR INFORMATION,

THE INFORMATION WOULD

RECEIVING HE POINTED OUT THAT PERSONS

CONSENT NOT BE PERMITTED TO DISCLOSE IT TO A THIRD PARTY WITHOUT THE OF THE COMMISSION OR THE COMMISSIONER, AND UNAUTHORISED DISCLOSURE WOULD BE AN OFFENCE WITH LIABILITY ON CONVICTION TO A FINE OF $10,000 AND TO IMPRISONMENT FOR SIX MONTHS.

THE BILL IS EXPECTED TO BE INTRODUCED INTO THE LEGISLATIVE COUNCIL ON APRIL 27 THIS YEAR,

TOWER

COMMENTS ON THE BILL MAY BE SENT TO THE SECRETARY FOR MONETARY ATTAIRS AT ADMIRALTY CENTRE,

HARCOURT ROAD, OR

OMELCO OFFICE AT JACKSON ROAD.

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THE

CONTINUED ROLE SEEN FOR BOARD OF REVIEW

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IN A

THE

HAS CONCLUDED A SPECIAL WORKING GROUP

ΤΟ REPORT GOVERNMENT THAT THERE REMAIN JUSTIFICATIONS FOR THE CONTINUED

BOARD EXISTENCE OF THE

OF REVIEW ON LONG TERM PRISON SENTENCES DESPITE OTHER PLANNED AVENUES OF REVIEW OF PRISONERS.

LAST

THIS INTERDEPARTMENTAL WORKING GROUP WAS ESTABLISHED BY THE

то YEAR ATTORNEY GENERAL AT THE END OF FEBRUARY

CARRY OUT A COMPREHENSIVE REVIEW OF THE WORK OF THE BOARD.

/THE GROUP