XN000022-1989-04-12 — Page 44

WEDNESDAY, APRIL 12, 1989

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AS A SAFEGUARD, THE GOVERNOR

WILL HAVE GENERAL POWER TO

GIVE DIRECTIONS TO THE COMMISSION (CLAUSE 10).

APPROVED ESTIMATES OF THE COMMISSION WILL BE TABLED BEFORE THE LEGISLATIVE COUNCIL FOR INFORMATION (CLAUSE 13).

VARIOUS CHANGES ARE MADE TO THE APPEAL PROVISIONS TO PROVIDE FOR, INTER ALIA, A CHANNEL OF APPEAL TO THE COURT OF APPEAL ON POINTS OF LAW (WITH THE LEAVE OF THE APPEALS PANEL), AND TO THE GOVERNOR IN COUNCIL AGAINST THE COMMISSION'S DECISIONS RELATING TO THE CONSTITUTION AND CLOSURE OF THE EXCHANGES AND CLEARING HOUSES (PARTS III AND VI).

THE TRANSACTION LEVY ON THE STOCK EXCHANGE WILL BE APPORTIONED BETWEEN THE EXCHANGE AND THE COMMISSION IN A WAY TO BE SPECIFIED BY ORDER OF THE GOVERNOR IN COUNCIL (CLAUSE 48).

SFC BILL PASSED WITH AMENDMENTS

* * * *

THE SECURITIES AND FUTURES COMMISSION BILL 1989 WAS PASSED WITH A NUMBER OF AMENDMENTS IN THE LEGISLATIVE COUNCIL MEETING TODAY (WEDNESDAY).

IN ADDITION, A TOTAL OF TEN BILLS WERE INTRODUCED FOR FIRST AND SECOND READINGS.

THESE WERE THE BANKING { AMENDMENT) BILL 1989: THE BUSINESS REGISTRATION (AMENDMENT} BILL 1989: THE DUTIABLE COMMODITIES (AMENDMENT) BILL 1989; THE INLAND REVENUE (AMENDMENT} (NO. 2) BILL 1989; THE ROAD TRAFFIC (DRIVING LICENCES REGULATIONS AND REGISTRATION AND LICENSING OF VEHICLES REGULATIONS) {AMENDMENT) BILL 1989; THE SECRETARY FOR DISTRICT ADMINISTRATION INCORPORATION (AMENDMENT) BILL 1989; THE DIRECTOR OF SOCIAL WELFARE INCORPORATION (AMENDMENT) BILL 1989; THE DIRECTOR OF EDUCATION INCORPORATION (AMENDMENT} BILL 1989; THE OPEN LEARNING INSTITUTE OF HONG KONG BILL 1989; AND THE TRAFFIC ACCIDENT VICTIMS (ASSISTANCE FUND) (AMENDMENT) BILL 1989.

DEBATES ON THESE BILLS WERE ADJOURNED.

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