XN000022-1988-06-08 — Page 14

13

WEDNESDAY, JUNE 8, 1988

BESIDES, ABUSES BY OVERSEAS AUTHORITIES

OF INFORMATION

GIVEN

DISCLOSE INFORMATION

PRESENT

SECRECY

BEFORE

TO THEM COULD BE PREVENTED AS THE DISCRETION TO STILL LAY WITH THE LOCAL AUTHORITY WHICH, ACCORDING TO THE BILL, WOULD HAVE TO BE SATISFIED THAT THERE WERE ADEQUATE PROVISIONS IN THE JURISDICTION OF THESE OVERSEAS AUTHORITIES RELEASING THE INFORMATION IN QUESTION.

SERIES

PRUDENTIAL

MISS TAM ADDED THAT THE TWO BILLS WERE BUT TWO OUT OF A OF ITEMS OF LEGISLATION INTRODUCED TO IMPROVE HONG CONTROL.

KONG'S

PUBLICATION OF

THE LEGCO AD HOC GROUP WAS FULLY AWARE of THE THE SECURITIES REVIEW, COMMITTEE REPORT, AND THE GROUP FULLY THE GOVERNMENT'S EFFORTS TO EXAMINE THE SHORTCOMINGS OPERATION OF THE SECURITIES INDUSTRY SO AS TO BRING IN THE REFORMS, SHE SAID.

SUPPORTED IN THE NECESSARY

PURPOSE OF AUDIT AMENDMENT BILL EXPLAINED

THE AUDIT (AMENDMENT) BILL 1988 WAS GIVEN A SECOND THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

READING IN

MOVING THE SECOND READING, THE ACTING FINANCIAL SECRETARY, HON DAVID NENDICK, SAID THE PURPOSE OF THE BILL DIRECTOR OF ACCOUNTING SERVICES TO TRANSMIT ACCOUNT STATEMENTS TO WAS ΤΟ REQUIRE DIRECTOR OF AUDIT FOR FUNDS

OTHER ESTABLISHED UNDER SECTION 29 OF THE PUBLIC FINANCE ORDINANCE.

THAN THE LOTTERIES FUND

-

THE

THE

THE

THE BILL ALSO REQUIRED THE DIRECTOR OF ACCOUNTS OF THESE FUNDS.

AUDIT TO CERTIFY THE

"THIS WILL IMPROVE THE PROCEDURE

THESE ACCOUNTS EXPLAINED.

INTO

LINE

WITH

AND BRING

HANDLING OF THE NORMAL PRACTICE, MR NENDICK

THE

it

THE FUNDS ESTABLISHED UNDER SECTION 29 OF ORDINANCE ARE THE DEVELOPMENT LOAN FUND, THE LOTTERIES FUND, THE

THE PUBLIC FINANCE OWNERSHIP FUND, THE STUDENT LOAN FUND, THE MASS TRANSIT FUND

HOME CAPITAL WORKS RESERVE FUND.

AND THE

DEBATE ON THE BILL WAS ADJOURNED.

/14