XN000022-1992-07-17 — Page 8

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FRIDAY, JULY 17, 1992

THEIR

THE GUIDELINES WOULD BE OF HELP ALSO TO BUSINESSMEN AND PROFESSIONAL ADVISERS WHEN PREPARING AND SEEKING REGISTRATION OF SUCH PROSPECTUSES.

MR GLEESON STRESSED THAT ACCEPTANCE OF A PROSPECTUS FOR REGISTRATION BY THE REGISTRAR OF COMPANIES SIGNIFIED ONLY THAT THE DOCUMENT COMPLIES WITH THE REQUIREMENTS OF THE COMPANIES ORDINANCE FOR REGISTRATION AND DID NOT MEAN THAT THE REGISTRAR HAD FORMED ANY VIEW AS TO THE QUALITY OF THE SECURITIES OFFERED BY THE PROSPECTUS THAT THE PROSPECTUS HAD SATISFIED ANY OTHER RULES OR REGULATIONS AS THE SEHK LISTING RULES.

OR

SUCH

HE SAID ALSO THAT THE GUIDELINES WOULD NEED TO BE REVIEWED IN THE LIGHT OF EXPERIENCE GAINED AFTER A PERIOD OF TIME.

GUIDELINES HELP SAFEGUARD INTERESTS OF INVESTORS

THE

WELCOMED THE SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK,

CIRCULAR ISSUE BY THE REGISTRAR OF COMPANIES TODAY (FRIDAY) OF A

TO INFORMATION MEMORANDUM CONTAINING GUIDELINES REGARDING THE INCLUDED IN

SHARES AND DEBENTURES PROSPECTUSES IN RESPECT OF COMPANIES INCORPORATED OUTSIDE HONG KONG.

то

BE OF

WISHING PEOPLE'S ENSURE MR

"I SEE THIS AS PARTICULARLY HELPFUL IN ASSISTING THOSE MAKE AVAILABLE SHARES OF COMPANIES INCORPORATED IN THE REPUBLIC

THIS WILL HELP OF CHINA TO THE PUBLIC IN HONG KONG. THAT THE INTERESTS OF INVESTORS HERE ARE ADEQUATELY SAFEGUARDED,' NENDICK SAID.

THE GUIDELINES ARE PART OF A REPORT PREPARED BY A WORKING GROUP INVITED BY MR NENDICK TO LOOK INTO MATTERS CONCERNING THE VETTING OF PROSPECTUSES FOR ISSUES OF B SHARES BY PRC COMPANIES.

COMPRISED

THE WORKING GROUP, CHAIRED BY THE REGISTRAR GENERAL, REPRESENTATIVES OF THE HONG KONG

THE SOCIETY OF ACCOUNTANTS, BECURITIES AND FUTURES COMMISSION, THE STOCK EXCHANGE OF HONG KONG LTD AND THE COMPANIES REGISTRY.

IT HAD CONDUCTED FOUR MEETINGS OVER THE PAST FOUR MONTHS BEFORE COMING UP WITH THE DETAILED RECOMMENDATIONS.

GROUP ON

MR NENDICK CONGRATULATED THE MEMBERS OF THE WORKING THE OUTCOME OF THEIR DELIBERATIONS AND THANKED THEM FOR ALL THEIR HARD WORK.

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