XN000022-1992-11-24 — Page 4

اليا

TUESDAY, NOVEMBER 24, 1992

J

THE DESIGNS OF THE NEW COINS HAVE BEEN STANDARDISED: THE OBVERSE FEATURES A BAUHINIA FLOWER AND "HONG KONG" IN CHINESE CHARACTERS AND ENGLISH AND THE REVERSE FEATURES THE DENOMINATION IN CHINESE CHARACTERS AND ENGLISH WITH A LARGE ARABIC NUMERAL IN THE CENTRE AND THE YEAR OF ISSUE IMMEDIATELY BELOW IT.

APPROVAL FOR THE NEW DESIGNS HAS BEEN OBTAINED FROM THE RELEVANT UK AUTHORITIES.

THE CHINESE SIDE HAVE ALSO BEEN CONSULTED ON THE NEW DESIGNS AND SUPPORTED THEIR INTRODUCTION AS EARLY AS POSSIBLE IN THE INTEREST OF SMOOTH TRANSITION.

MR YAM EXPLAINED THAT A PHASED INTRODUCTION OF THE NEW COINS WAS NECESSARY BECAUSE OF PRODUCTION AND STORAGE CONSTRAINTS.

"THE NEW FIVE-DOLLAR AND TWO-DOLLAR COINS WILL BE INTRODUCED FIRST AT THE BEGINNING OF NEXT YEAR.

++

"THE ISSUE OF OTHER COINS WILL FOLLOW SHORTLY, WITH THE NEW ONE-DOLLAR, 50-CENT AND 20-CENT COINS BEING INTRODUCED LATER IN 1993, HE SAID.

"A 10-DOLLAR COIN WILL ALSO BE INTRODUCED IN 1994 OR 1995 TO REPLACE THE EXISTING 10-DOLLAR NOTE, HE ADDED.

THE METAL COMPOSITIONS OF NEW COINS ARE OF THE EXISTING ONES TO FACILITATE WITHDRAWAL SIZE,

WEIGHT AND SHAPE REMAIN THE SAME SO THAT

DISRUPTION.

MR YAM NOTED THAT COINS HAD A LONG LIFE TO BE WITHDRAWN UNDER SPECIAL ARRANGEMENTS.

PL

DIFFERENT FROM THOSE BY MACHINE, BUT THE THERE WILL BE MINIMAL

AND THEREFORE NEEDED

AND

BANKS,

'INSTITUTIONS, SUCH AS PUBLIC UTILITY COMPANIES WHICH RECEIVE A LARGE NUMBER OF COINS HAVE BEEN IDENTIFIED AS POINTS FOR SORTING THE OLD FROM THE NEW FOR WITHDRAWAL.

"IT WILL BE A GRADUAL PROCESS AND WILL BE MONITORED CLOSELY, THE NUMBER OF POINTS OF WITHDRAWAL BEING INCREASED IF NECESSARY,

"THE AIM IS TO HAVE THE MAJORITY REPLACED BY 1997," HE SAID.

TO COINCIDE WITH THE INTRODUCTION OF THE NEW TWO-DOLLAR COINS IN JANUARY 1993, POSTERS WILL BE PUT HALLS AND GOVERNMENT POSTER SITES TO FAMILIARISE THE NEW DESIGNS.

FIVE-DOLLAR AND UP IN BANKING PUBLIC OF THE

AS FOR THE NEW DESIGNS FOR BANK NOTES, MR YAM EXPLAINED THAT THIS WAS A MATTER FOR THE TWO NOTE-ISSUING BANKS.

"THEY HAVE ALREADY BEEN FINALISED AND HAVE BEEN SHOWN ΤΟ THE CHINESE SIDE, WHO RAISED NO OBJECTION.

/"THE NEW