XN000022-1989-05-22 — Page 3

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MONDAY, MAY 22, 1989

MR PETER NORRIS IS THE MANAGING DIRECTOR AND CO. LTD.

OF BARING BROTHERS

MR GEOFFREY PICARD IS THE MANAGING DIRECTOR OF MORGAN STANLEY ASIA LTD.

MR CHARLES 500 IS THE MANAGING DIRECTOR OF EASTERN SECURITIES AND CO. HE SERVED ON THE SECURITIES REVIEW COMMITTEE.

MR LINCOLN SOO, A STOCKBROKER BY PROFESSION, IS THE PROPRIETOR OF SOO PEL SHAO AND CO. HE WAS A MEMBER OF THE SECURITIES COMMISSION.

PRESIDENT AND MANAGING DIRECTOR OF

MR HIDEO SUZUKI IS THE

NOMURA INTERNATIONAL (HK) LTD.

MR ROBERT THOMAS IS THE MANAGING DIRECTOR OF JARDINE FLEMING INVESTMENT MANAGEMENT LTD. HE IS A PREVIOUS CHAIRMAN OF THE HONG KONG UNIT TRUST ASSOCIATION.

MR ZHANG XUE-YAO IS THE GENERAL MANAGER OF THE HONG KONG BRANCH OF THE BANK OF CHINA.

COMMISSIONER FOR TRANSPORT MEETS OMNIBUS OPERATORS

THE COMMISSIONER FOR TRANSPORT, MR JAMES So, TODAY (MONDAY) HAD A MEETING WITH REPRESENTATIVES OF THE PUBLIC OMNIBUS OPERATORS ASSOCIATION TO DISCUSS A NUMBER OF ISSUES RAISED BY THEM.

ON THE ASSOCIATION'S REQUEST FOR EXEMPTION FROM PROVIDING AN ADDITIONAL EMERGENCY EXIT ON BUSES, MR SO REMINDED THE REPRESENTATIVES THAT A TRANSITIONAL PERIOD OF FIVE YEARS WAS GIVEN ΤΟ THEM SINCE THE REGULATION WAS ENACTED IN 1984. THUS MORE THAN SUFFICIENT TIME HAD BEEN ALLOWED FOR OWNERS OF PRIVATE BUSES TO MODIFY THEIR BUSES TO CONFORM TO THE REGULATION.

IN ADDITION TO THE PUBLICITY ON THE LAW AT THE TIME OF ENACTMENT, LETTERS WERE SENT TO THE ASSOCIATION IN JANUARY AND JULY LAST YEAR ELUCIDATING THE CHANGES AND REMINDING THEM THE TRANSITIONAL PERIOD WOULD EXPIRE IN AUGUST THIS YEAR AND WOULD NOT BE EXTENDED.

ALL BUSES PRESENTED FOR INSPECTION FROM 25 EXPECTED TO HAVE COMPLIED WITH THE REGULATIONS IN FULL.

AUGUST WERE

"HOWEVER, IF INDIVIDUAL OPERATORS CAN SHOW THAT THERE IS A REAL PROBLEM IN OBTAINING AN APPOINTMENT WITH A VEHICLE BODY BUILDER TO MAKE THE NECESSARY CHANGES PRIOR TO THE EXPIRY DATE, A REQUEST MAY BE MADE TO THE TRANSPORT DEPARTMENT FOR A DEFERMENT. SUCH DEFERMENT WILL ONLY BE GRANTED IF THE OWNER HAS MADE A FIRM BOOKING WITH A GARAGE TO DO THE WORK, MR SO ADDED.

"DEFERMENT WILL