XN000022-1991-04-26 — Page 13

FRIDAY, APRIL 26, 1991

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A NUMBER OF MISCELLANEOUS AMENDMENTS HAVE ALSO BEEN PROPOSED. THESE INCLUDE THE ADDITION OF TWO FURTHER NEW GROUNDS IN SECTION 29 ON WHICH A BANKING LICENCE MAY BE REVOKED; THE PERMISSION OF THE USE OF THE NAME OF A BANK BY ITS LOCAL REPRESENTATIVE OFFICE

AN OFFENCE 97; AND THE ADDITION OF A NEW SECTION 97A WHICH MAKES 'IT FOR A PERSON TO FALSELY INDICATE THAT HE IS AN AUTHORISED INSTITUTION.

**THE

IN THE BILL HAVE BEEN DISCUSSED WITH PROPOSALS GENERALLY WELCOMED BY THE BANKING ADVISORY COMMITTEE AND THE TAKING COMPANIES ADVISORY COMMITTEE, HE SAID.

+T

SECTION

AND

ARE DEPOSIT-

ON THE

DEPOSIT- PROPOSED

"THE HONG KONG ASSOCIATION OF BANKS AND THE HONG KONG

ASSOCIATION HAVE BEEN CONSULTED TAKING COMPANIES "HANGES TO PART XV," HE ADDED.

BILL THE

THE IS SCHEDULED FOR INTRODUCTION INTO COUNCIL ON MAY 8 THIS YEAR.

LEGISLATIVE

NOTE TO EDITORS:

TO

BILL

2) QUEENSWAY

THE COMMISSIONER OF BANKING, MR TONY NICOLLE, WILL BE AVAILABLE TAKE FOLLOW-UP QUESTIONS ON THE BANKING (AMENDMENT) (NO. 1991 AT 4.30 PM TODAY (FRIDAY) AT. HIS OFFICE ON 28TH FLOOR, GOVERNMENT OFFICES, HONG KONG.

IMPROVED FINANCIAL ASSISTANCE FOR SHUE YAN COLLEGE STUDENTS

* * * * *

THE EXECUTIVE COUNCIL HAS APPROVED THE INTRODUCTION OF A NEW PACKAGE OF FINANCIAL ASSISTANCE FOR SHUE YAN COLLEGE STUDENTS, A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY).

SUBJECT TO ENDORSEMENT BY THE FINANCE COMMITTEE, PACKAGE OF ASSISTANCE, WHICH WILL CONTINUE TO BE SUBJECT TEST, WILL TAKE EFFECT FROM THE 1991-92 SCHOOL YEAR.

THE IMPROVED ΤΟ A MEANS

SPOKESMAN SAID

EXPLAINING DETAILS OF THE NEW PACKAGE, THE STUDENTS OF THE COLLEGE WHO MEET THE EXISTING CRITERIA OF ELIGIBILITY WOULD RECEIVE GRANTS IN ADDITION TO LOANS UNDER THE STUDENT FINANCE ASSISTANCE SCHEME.

THEY WOULD BE REQUIRED TO PAY INTEREST ON LOANS AT THE SAMB RATE (AT 2.5 PER CENT PER ANNUM) AS THAT CHARGED то STUDENTS OF TERTIARY INSTITUTIONS AND COLLEGES OF EDUCATION.

"THE GRANTS WILL IMPROVE THE PACKAGE OF ASSISTANCE TO STUDENTS OF SHUE YAN COLLEGE, WHICH IS A PRIVATELY-RUN POST-SECONDARY COLLEGE.

"AT PRESENT, SHUE YAN COLLEGE STUDENTS ARE ELIGIBLE FOR BUT NOT GRANTS, FROM THE GOVERNMENT," HE SAID.

LOANS,

UNDER THE NEW PACKAGE, AN ELIGIBLE STUDENT COULD RECEIVE MAXIMUM GRANT OF $4,700 AND A MAXIMUM LOAN OF $10,300 PER YEAR.

A

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