XN000022-1990-03-30 — Page 6

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FRIDAY, MARCH 30, 1990

"UNDER THE NEW REPORTING SYSTEM, THE STOCK EXCHANGE WILL BE REQUIRED TO PROCESS QUICKLY A LARGE VOLUME OF NOTIFICATIONS IN ENGLISH AND CHINESE.

"TO PROTECT THE STOCK EXCHANGE FROM SUIT FOR DAMAGES ARISING FROM BONA FIDE PUBLICATION OF INCORRECT INFORMATION (FOR EXAMPLE, EITHER FALSE OR MISLEADING INFORMATION NOTIFIED TO THE EXCHANGE), A STATUTORY IMMUNITY IS GIVEN TO THE EXCHANGE AND ITS EMPLOYEES, IN PERFORMANCE, IN GOOD FAITH, OF ANY DUTY IMPOSED ON THE EXCHANGE UNDER THE ORDINANCE," HE SAID.

THE

THE BILL IS DUE TO BE INTRODUCED INTO THE LEGISLATIVE COUNCIL ON MAY 2 THIS YEAR. SUBJECT TO THE ENACTMENT OF THE BILL, IT IS THE INTENTION TO BRING THE PRINCIPAL ORDINANCE INTO OPERATION ON THIS YEAR.

JULY 2

WELFARE PAYMENT ADJUSTMENT FROM APRIL

-

SECURITY

THE SOCIAL WELFARE DEPARTMENT WILL INCREASE SOCIAL

PUBLIC ASSISTANCE (PA) AND SPECIAL NEEDS ALLOWANCE (SNA) -

PAYMENTS

BY 10 PER CENT STARTING FROM SUNDAY (APRIL 1).

THIS ADJUSTMENT

EXTENSION OF THE HIGHER

WILL BE IMPLEMENTED TOGETHER WITH THE DISABILITY ALLOWANCE TO SEVERELY DISABLED PERSONS AGED BELOW 16 AND THE EXTENSION OF THE NORMAL OLD AGE ALLOWANCE TO ELDERLY WHO ARE 66.

PAYMENTS

A SWD SPOKESMAN SAID THE ADJUSTMENT OF THE PA AND SNA IS IN LINE WITH THE INFLATION RATE SO AS TO MAINTAIN THE PURCHASING POWER OF THE CASH PAYMENTS.

WITH EFFECT FROM NEXT MONTH, A SENIOR CITIZEN ON PUBLIC ASSISTANCE WILL RECEIVE AN AVERAGE OF $1,500 PER MONTH.

"IN ADDITION ΤΟ THE BASIC RATE OF $685, AN ELDERLY PA RECIPIENT IS ALSO ENTITLED TO A $343 OLD AGE SUPPLEMENT OR OLD AGE ALLOWANCE.

PAID

"IN ADDITION, A MAXIMUM OF $488 IN RENT ALLOWANCE WILL BE TO ASSIST HIM TO RESOLVE HIS ACCOMMODATION PROBLEM, THE SPOKESMAN

SAID.

DETAILS OF THE NEW RATE ARE AS FOLLOWS:

/PUBLIC ASSISTANCE

: