XN000022-1990-07-18 — Page 8

WEDNESDAY, JULY 18, 1990

SECURITIES AND FUTURES COMMISSION (AMENDMENT) (NO. 2) BILL EXPLAINED

1990

BILL

THE SECURITIES AND FUTURES COMMISSION (AMENDMENT) (NO. 2) SEEKS TO SPECIFY THAT THE PROPOSED POWER IN THE EXCHANGES UNIFICATION (AMENDMENT) BILL 1990 TO RECOGNISE A CLEARING HOUSE FOR CANNOT SECURITIES TRANSACTIONS AND APPROVE ITS RULES AND CONSTITUTION

SAID BE DELEGATED, THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, TODAY (WEDNESDAY).

AND

MOVING THE SECOND READING OF THE BILL IN THE LEGISLATIVE COUNCIL, SIR PIERS SAID THAT IN THE PASSAGE OF THE SECURITIES FUTURES COMMISSION BILL THROUGH THIS COUNCIL IN 1989, MEMBERS WERE CONCERNED THAT IMPORTANT FUNCTIONS OF THE SECURITIES AND FUTURES COMMISSION SHOULD BE RESERVED FOR DECISION BY THE FULL COMMISSION.

"SCHEDULE 1 TO THE SECURITIES AND FUTURES COMMISSION ORDINANCE SPECIFIES A NUMBER OF FUNCTIONS THE PERFORMANCE OF WHICH ARE NOT TO BE DELEGATED BY THE COMMISSION TO ITS COMMITTEES, INDIVIDUAL DIRECTORS OR STAFF.

"AMENDMENTS TO THIS SCHEDULE CAN ONLY BE EFFECTED BY A RESOLUTION OF THIS COUNCIL, SIR PIERS SAID.

11

DEBATE ON THE BILL WAS ADJOURNED.

ENTRY POINT FOR TAIWANESE UNIVERSITIES' GRADUATES BEING CONSIDERED

HOLDERS THE EDUCATION DEPARTMENT IS CONSIDERING WHETHER DEGREE

UNIVERSITIES AND

OF HOLDERS FROM TAIWAN

OTHER NON-STANDARD REVISED, THE SECRETARY QUALIFICATIONS SHOULD HAVE THEIR ENTRY POINT

THE LEGISLATIVE FOR EDUCATION AND MANPOWER, THE HON K.Y. YEUNG, TOLD COUNCIL TODAY (WEDNESDAY).

SHORTLY

POLICY

BRING FINALISED AND

BRANCHES

WOULD FOR

THE RESULTS OF THIS EXERCISE WERE

BE FORWARDED

THE RELEVANT

CONSIDERATION, HE ADDED.

TO

FROM THE

HON SZETO WAH, MR YEUNG EVER BREN HIRED ΤΟ

IN REPLY TO A QUESTION STRESSED THAT NO TAIWAN UNIVERSITY GRADUATE HAD TEACH IN GOVERNMENT SCHOOLS IN HONG KONG.

THE

BUT

ANY

"THE DISCREPANCY BETWEEN

ENTRY POINT SPECIFIED BY THE

REGRETTABLE CIVIL SERVICE BRANCH AND THE EDUCATION DEPARTMENT IS

AS MUCH AS THEORETICAL, IN

ITS EXISTENCE HAS NOT AFFECTED TEACHER," HE SAID.

/MR YEUNG *******

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A