XN000022-1992-12-04 — Page 6

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DRUG-RELATED MONEY FROZEN

FRIDAY, DECEMBER 4, 1992

HONG KONG CUSTOMS

TODAY (FRIDAY) HAS OBTAINED A RESTRAINT ORDER FROM THE HIGH COURT TO FREEZE OVER HK$13 MILLION OF CASH IN SIX LOCAL BANK ACCOUNTS.

THE MONIES ARE BELIEVED TO BE THE PROCEEDS FROM THE SALE OF DRUGS IN THE UNITED STATES.

THE FREEZING ACTION IS THE RESULT OF A YEAR-LONG INVESTIGATION INTO THE ASSETS OF AN INTERNATIONAL DRUG TRAFFICKING SYNDICATE.

THREE PERSONS WERE ARRESTED IN THE U.S. IN 1989 AND TWO TONS OF MARIJUANA WERE SEIZED.

INVESTIGATION REVEALS THAT THE SYNDICATE HAS OPERATED A NUMBER OF BANK ACCOUNTS IN HONG KONG TO HANDLE DRUG PROCEEDS.

FREEZING IN HONG KONG IS MADE UNDER THE PROVISIONS OF THE DRUG TRAFFICKING (RECOVERY OP PROCEEDS} (DESIGNATED COUNTRIES AND TERRITORIES) ORDER 1991.

SO FAR THE GOVERNMENT HAS SIGNED BILATERAL AGREEMENTS WITH 10 JURISDICTIONS TO IMPLEMENT THE ORDER AND TO STRENGTHEN INTERNATIONAL ACTIONS IN ATTACKING DRUG TRAFFICKING PROCEEDS.

SINCE THE SIGNING OF BILATERAL AGREEMENT WITH THE U.S. GOVERNMENT IN EARLY LAST YEAR, HONG KONG CUSTOMS HAS CO-OPERATED WITH U.S. LAW ENFORCEMENT AGENCIES IN THE FREEZING OF OVER HK$48 MILLION WORTH ASSETS IN HONG KONG BELIEVED TO BE DERIVED FROM THE PROCEEDS OF DRUG TRAFFICKING.

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BILL TO UPDATE HK EXAMINATIONS AUTHORITY PROVISIONS

A BILL. THAT SEEKS TO REVISE THE COMPOSITION OF THE HONG KONG EXAMINATIONS AUTHORITY (HKEA) TO ACCOMMODATE CHANGED CIRCUMSTANCES THE EDUCATION SECTOR WAS GAZETTED TODAY (FRIDAY).

IN

UNDER THE HONG KONG EXAMINATIONS AUTHORITY (AMENDMENT) BILL 1992, THE EXISTING DOUBLE REPRESENTATION BY THE CHINESE UNIVERSITY AND THE UNIVERSITY OF HONG KONG WILL BE REMOVED.

IT IS PROPOSED THAT ONLY THE VICE-CHANCELLOR OR REPRESENTATIVE IN THE RESPECTIVE UNIVERSITY WILL BE APPOINTED.

HIS

OF A

AS THE LINGNAN COLLEGE HAS BEEN UPGRADED TO THE STATUS DEGREE-GRANTING INSTITUTION UNDER ITS OWN STATUTE, THE PRESIDENT OF THE COLLEGE SHOULD BE INCLUDED AS AN EX-OFFICIO MEMBER ON A PAR WITH OTHER TERTIARY INSTITUTIONS.

/THE CHAIRMAN