XN000022-1988-11-30 — Page 3

WEDNESDAY, NOVEMBER 30, 1988

AGE LIMIT TO STAY IN MEANTIME

THE FINANCIAL SECRETARY,

THE

LIMIT

SAID JACOBS,

FOR

TODAY COMPANY

HON PIERS THE HE AGREED

MINIMUM THAT

AGE DIRECTORS SHOULD NOT BE LOWERED FROM 21 TO 18 AT PRESENT.

(WEDNESDAY}

HE SAID THE CHANGE SHOULD NOT RECOMMENDATIONS OF THE LAW REFORM PERSONS HAD BEEN IMPLEMENTED.

BE MADE UNTIL OTHER KPAVANT

ON COMMISSION

THE AGE

YOUNG

OF

THE SPEAKING ON THE COMPANIES (AMENDMENT) (NO. 3) BILL 1988 IN

COMMITTEE STAGE LEGISLATIVE COUNCIL, MR JACOBS SAID HE SUPPORTED THE AMENDMENT TO THIS EFFECT AS MOVED BY THE HON RONALD ARCULLI.

OF THE LEGCO AD HOC

HE ALSO THANKED MR ARCULLI AND MEMBERS GROUP FOR THE CONSIDERATION THEY HAD GIVEN TO THE BILL.

SECOND READING EARLIER, SPEAKING IN THE RESUMED DEBATE ON THE

THE HON PETER WONG OF THE BILL, MR JACOBS SAID THAT HE AGREED WITH

WHERE THE FEES PAYABLE UPON THAT THERE MIGHT BE EXCEPTIONAL CASES LATE FILING OF ANNUAL RETURNS SHOULD BE REDUCED OR WAIVED.

THE

PROMPT

FILING

"SUCH CASES, HOWEVER, SHOULD BE FEW IN NUMBER BECAUSE STRUCTURE SHOULD RETURNS, HE SAID.

[

HELP TO

ENCOURAGE

NEW

THE

OF

ANNUAL

96

WOULD BE OF THE

CONSIDERATION CASEY, APPROPRIATE NEVERTHELESS, IN

FEES UNDER OR WAIVING

SECTION GIVEN TO REDUCING INTERPRETATION AND GENERAL CLAUSES ORDINANCE, HE ADDED.

THE

THE BILL IN ITS AMENDED FORM WAS

COUNCIL.

SUBSEQUENTLY PASSED BY THE

MINIMUM AGE FOR DIRECTORS SHOULD REMAIN AT 21

THE HON RONALD ARCULLI MOVED A

COMMITTEE

STAGE AMENDMENT TO COUNCIL

THE COMPANIES (AMENDMENT) (NO. 3) BILL 1988 IN THE LEGISLATIVE TODAY (WEDNESDAY).

5 OF CLAUSE

THE BILL THAT THIS AMENDMENT SERVED TO DELETE SOUGHT TO REDUCE THE MINIMUM AGE FOR COMPANY DIRECTORS FROM 21 TO 18.

5.

THE

MR ARCULLI SAID A LEGCO AD HOC GROUP, OF WHICH HE WAS CONVENER,

AT

TO CLAUSE MATTERS RELATING WAS FORMED TO SPECIFICALLY LOOK THOUGH THE BILL CONTAINED A NUMBER OF MISCELLANEOUS AMENDMENTS TO COMPANIES ORDINANCE.

SHE SAID