XN000022-1991-03-14 — Page 12

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THURSDAY, MARCH 14, 1991

"TWO AMENDMENTS TO THE INSURANCE COMPANIES ORDINANCE CAME OPERATION LAST YEAR," HE SAID.

INTO

1990,

THE INSURANCE COMPANIES (AMENDMENT) ORDINANCE NO. ENACTED

44 OF ON JUNE 28 LAST YEAR, INTRODUCED "PRIOR REQUIREMENTS CONCERNING PROPOSED CHANGES OF CONTROLLERS BY AUTHORISED NOTIFICATION" INSURERS, AND PROVISIONS TO GIVE LEGAL EFFECT TO ISSUED BY UNAUTHORISED INSURERS.

INSURANCE

CONTRACTS

THE INSURANCE COMPANIES ORDINANCE (AMENDMENT SCHEDULE) REGULATIONS 1990 WERE INTRODUCED ON DECEMBER REGULATIONS BRING INTO EFFECT KONG INSURANCE BUSINESS DECEMBER 31, 1990.

OF THIRD 7. 1990. THE NEW REPORTING REQUIREMENTS FOR HONG COMMENCING FROM THE FINANCIAL YEAR ENDED

-

DTC REGISTRATION REVOKED

* * * *

THE COMMISSIONER OF BANKING ANNOUNCED THAT THE REGISTRATION CREDIT SUISSE FINANCE LIMITED AND THAT OF CHEMICAL ASIA LIMITED DEPOSIT-TAKING COMPANIES HAVE BEEN REVOKED AS AT THE CLOSE BUSINESS TODAY (THURSDAY) AT THEIR OWN REQUEST UNDER SECTION 31(2) THE BANKING ORDINANCE.

OF AS

OF -

OF

TRAFFIC MANAGEMENT SCHEME TO EASE CONGESTION AT CROSS HARBOUR TUNNEL

WORKS HAVE STARTED UNDER A TRAFFIC MANAGEMENT SCHEME TO BASE THE WESTBOUND TRAFFIC NEAR THE HONG KONG ENTRANCE OF THE CROSS HARBOUR TUNNEL, THE ACTING CHIEF ENGINEER (HONG KONG) OF THE TRANSPORT DEPARTMENT, MR WILLIAM LIEW KWOK-SHAN, SAID TODAY (THURSDAY) AT A PRESS CONFERENCE.

THE SCHEME WILL COMPRISE BOTH CONSTRUCTION WORK AND TRAFFIC MANAGEMENT MEASURES MAINLY AT THE ISLAND EASTERN CORRIDOR (IEC), VICTORIA PARK ROAD AND GLOUCESTER ROAD.

IT IS EXPECTED THAT THE THREE MONTH CONSTRUCTION WORK WILL BB COMPLETED IN JUNE.

"THE TRANSPORT DEPARTMENT IS CONCERNED THAT TUNNEL CONGESTION HAS AFFECTED OTHER NON-TUNNEL USERS AND THE DEPARTMENT HAS PROPOSED THE SERIES OF MEASURES TO EASE THE SITUATION," MR LIEW SAID.

"IT WILL BE HELPFUL FOR ROAD USERS IN THE AREA TO BE OF THE MEASURES," HE ADDED.

INFORMED

/THE DEPARTMENT