XN000022-1989-01-12 — Page 7

FUNDING FOR THE SFC

THURSDAY, JANUARY 12, 1989

AS RECOMMENDED BY THE

GOVERNMENT.

BE FUNDED THE

WILL SFC THE SRC, LARGELY BY THE MARKETS BUT ALSO PARTLY BY THE BILL CONTAINS PROPOSALS TO EFFECT THIS RECOMMENDATION.

OF FORM MARKET CONTRIBUTION WILL BE IN THE

AND A STATUTORY CHARGES FOR SPECIFIC SERVICES AND ACTIVITIES PERFORMED LEVEL SFC ON A BROAD COST RECOVERY BASIS

OF PAYMENT TRANSACTIONS RECORDED ON THE TWO EXCHANGES. THE LEVY AND REGULATIONS PROVIDING FOR THE CHARGES WILL BE DETERMINED BY THE EXECUTIVE COUNCIL.

FEES AND

BY LEVY ON OF THE

THE

FEES

AND

GENERAL TO

GOVERNMENT START-UP GRANT, ANNUAL CONTRIBUTION TOWARDS THE SFC TO BORROW FROM FALL RESERVES IF ITS

GOVERNMENT'S CONTRIBUTION WILL BE PAID OUT OF REVENUE AS APPROPRIATED BY THE LEGISLATIVE COUNCIL. SUBJECT

THE OF THE APPROVAL

FINANCE

COMMITTEE,

CONTRIBUTION WILL TAKE THE FORM OF AN INITIAL AN INTEREST FREE ADVANCE AND AN THE SFC'S COSTS, WITH PROVISION FOR

MEASURE, EMERGENCY GOVERNMENT, AS AN BELOW A CERTAIN LEVEL.

FUNDING THE

ARRANGEMENTS AIM

TO STRIKE

ON

THE RIGHT ONE THE

BALANCE BETWEEN THE INTERESTS OF THE MARKET USERS HAND AND THE PUBLIC PURSE ON THE OTHER.

ד

NOMINATION OF CANDIDATES FOR UC/RC ELECTIONS BEGINS TOMORROW

NOMINATION OF CANDIDATES FOR THE

COUNCIL ELECTIONS ON MARCH 9 THIS YEAR WILL AND LAST UNTIL THE END OF THIS MONTH (JANUARY 31).

ANNOUNCING THIS AT A PRESS

URBAN COUNCIL

BEGIN

AND REGIONAL TOMORROW (FRIDAY)

CONFERENCE

TODAY (THURSDAY), CIVIC-MINDED

THE PEOPLE WHO

DEPUTY CHIEF SECRETARY, MR JOHN CHAN, URGED ARE KEEN TO SERVE THE COMMUNITY TO COME FORWARD AS CANDIDATES.

SAID

THE 10

THE IN

MR CHAN TO BE URBAN NINE

OF CANDIDATES, EXPLAINING DETAILS OF THE NOMINATION

CONSTITUENCIES BE 27 SINGLE-SEAT WOULD THERE THAT

ELECTIONS IN COUNCIL URBAN THE FOR

ELECTIONS CONTESTED: 15 DISTRICTS; AND 12 FOR THE REGIONAL DISTRICTS IN THE NEW TERRITORIES.

COUNCIL

/EACH DISTRICT