XN000022-1991-10-17 — Page 14

THURSDAY, OCTOBER 17, 1991

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HOUSING (AMENDMENT) BILL 1991 INTRODUCED

THE HOUSING (AMENDMENT) BILL 1991 WAS INTRODUCED INTO THR LEGISLATIVE COUNCIL TODAY (THURSDAY).

MOVING THE SECOND READING OF THE BILL, THE ACTING SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, MR BOWEN LEUNG, SÄID UNDER SECTION 17AA(1) OF THE HOUSING ORDINANCE, THE DIRECTOR OF HOUSING MAY STIPULATE, BY NOTICE IN THE GAZETTE, THAT DOCUMENTS RELATING TO THE SALE OF HOME OWNERSHIP SCHEME AND PRIVATE SECTOR PARTICIPATION SCHEME FLATS SHALL BE SUBJECT TO THE TERMS, COVENANTS AND CONDITIONS MENTIONED IN THE SCHEDULE TO THE HOUSING ORDINANCE.

"THE INTENTION IS THAT SUCH NOTICE 19 ADMINISTRATIVE RATHER THAN LEGISLATIVE IN NATURE," MR LEUNG SAID.

"TO REMOVE ANY DOUBT AS ΤΟ THE STATUS OF A NOTICE OF A STIPULATION MADE BY THE DIRECTOR OF HOUSING, THE BILL ADDS A SUB-SECTION TO THE ORDINANCE TO CLEARLY PROVIDE THAT THE NOTICES IN THE GAZETTE RELATING ΤΟ THE STIPULATIONS ÅRE NOT SUBSIDIARY LEGISLATION, HE EXPLAINED.

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DEBATE ON THE BILL WAS ADJOURNED.

0

P

APPOINTMENT OF SPECIAL MANAGER

THE OFFICIAL RECEIVER, ACTING AS THE PROVISIONAL LIQUIDATOR, WILL CONSIDER A SPECIAL MANAGER'S QUALIFICATIONS, HIS EXPERIENCE AND HIS TRACK RECORD IN PREVIOUS INSOLVENCY CASES WHEN MAKING THE APPOINTMENT.

THIS WAS STATED BY THE ACTING FINANCIAL SECRETARY, THE HON DAVID NENDICK, IN HIS CAPACITY AS THE SECRETARY FOR MONETARY AFFAIRS IN LEGISLATIVE COUNCIL TODAY (THURSDAY).

IN REPLY TO A WRITTEN QUESTION BY THE HON WONG HONG-YUEN, HE SAID THE OFFICIAL RECEIVER WOULD ALSO TAKE INTO ACCOUNT THE ABILITY OF THE SPECIAL MANAGER'S FIRM TO PROVIDE THE NECESSARY STAFF AND RESOURCES, INCLUDING IF NECESSARY INTERNATIONAL RESOURCES, TO DEAL WITH THE PARTICULAR LIQUIDATION..

ALSO UNDER

INTEREST, HE ADDED.

CONSIDERATION

WAS THE POTENTIAL CONFLICT OF

THE ORDER OF APPOINTMENT OF A SPECIAL MANAGER FIXED THE LEVEL OF HIS AND HIS STAFF'S REMUNERATION, WHICH WAS USUALLY ON A TIME-COST BASIS.

/Á SPECIAL