XN000022-1989-07-19 — Page 31

WEDNESDAY, JULY 19, 1989

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MR LEUNG SAID THE BILL ALSO SPECIFIED DESTINATION INDICATORS, NOTICES AND SIGNS IN PUBLIC SUCH AS PUBLIC LIGHT BUSES TO ENSURE UNIFORMITY OF TRADE AND FOR BETTER PUBLIC INFORMATION.

THE DISPLAY OF

SERVICE VEHICLES PRACTICE BY THE

UPON PASSAGE OF THIS BILL, THE ROAD TRAFFIC (PUBLIC SERVICE VEHICLES REGULATIONS WILL BE AMENDED ACCORDINGLY, HE SAID.

DEPARTMENT WOULD CONSULT THE

HE ADDED THAT THE TRANSPORT PUBLIC SERVICE VEHICLES TRADE ON THE SPECIFICATIONS, ALLOWING SUFFICIENT TIME FOR THE OPERATORS TO COMPLY WITH THE SPECIFICATIONS BEFORE THE NFL REQUIREMENTS ARE ENFORCED.

AMENDMENTS TO CLARIFY BILL'S OPERATION

CERTAIN AMENDMENTS WOULD BE MADE TO SECTION 7A OF CLAUSE 4 OF THE PROTECTION OF INVESTORS (AMENDMENT) BILL 1989 TO CLARIFY ITS OPERATION AND TO REMOVE AN UNINTENTIONAL EFFECT, THE ACTING FINANCIAL SECRETARY, THE HON DAVID NENDICK, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

SPEAKING DURING THE COMMITTEE STAGE OF THE BILL.

HE EXPLAINED THAT SECTION 7A WAS DRAFTED то IMPOSE A REPORTING ́ REQUIREMENT IN RESPECT OF ADVERTISEMENTS RELATING ΤΟ CERTIFICATE OF DEPOSIT AND COMMERCIAL PAPER ISSUES.

HOWEVER, IT HAD BEEN SUGGESTED THAT SECTION 7A AS DRAFTED WAS INSUFFICIENTLY PRECISE AND WOULD ALSO CATCH ADVERTISEMENTS WHICH WERE ALREADY EXEMPT BY VIRTUE OF OTHER PROVISIONS OF THE ORDINANCE.

IN VIEW OF THE CONCERN EXPRESSED ON THIS PROVISION. MR NENDICK SAID THAT SUB-SECTION (1) WOULD BE AMENDED TO MAKE IT CLEAR THAT THE INFORMATION TO BE SUBMITTED WOULD RELATE то THE ADVERTISEMENT AND WOULD BE SPECIFIED BY THE SECURITIES AND FUTURES COMMISSION BY NOTICE IN THE GAZETTE.

"WE DO NOT INTEND THAT THIS OBLIGATION UNCLEAR OR ONEROUS, HE SAID.

SHOULD DE ET THER

THUS THE INFORMATION REQUIRED WILL BE KNOWN AT THE TIME OF ISSUE OF THE ADVERTISEMENT.

H

WOULD ONLY RELATE ΤΟ

IT WAS ENVISAGED THAT THIS INFORMATION THE BASIC TERMS OF THE CAPITAL MARKET ISSUE AS RELFECTED IN THE ADVERTISEMENT. MR NENDICK NOTED.

THE GOVERNMENT WOULD BE ARRANGING WITH THE EARLY PUBLICATION OF THE NECESSARY GAZETTE NOTICE.

COMMISSION FOR

/ON THE