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WEDNESDAY, FEBRUARY 10, 1993
ADDITIONAL LIQUIDITY INJECTED
INTO INTER-BANK MARKET
* * * * *
THE OFFICE OF THE EXCHANGE FUND TODAY ADDITIONAL LIQUIDITY INTO THE INTER-BANK MARKET.
(WEDNESDAY)
INJECTED
THE BALANCE OF THE HONGKONGBANK'S ACCOUNT MAINTAINED WITH THE EXCHANGE FUND WAS INCREASED FROM HK$1,500 MILLION TO HK$2,150 MILLION.
COMMENTING ON THE OPERATION, THE CHIEF EXECUTIVE (DESIGNATE) OF THE HONG KONG MONETARY AUTHORITY, MR JOSEPH YAM, SAID THE ADDITIONAL LIQUIDITY WAS INJECTED TO
TEMPORARY TIGHTNESS IN THE INTER-BANK MARKET DUE TO THE SHARE FLOATATION CLOSED FOR SUBSCRIPTION AT NOON TODAY.
RELIEVE
GOVT TO CONTROL PUBLICATION OF FILMS AS VIDEOS AND LASER DISCS
* *
A BILL SEEKING TO AMEND THE FILM CENSORSHIP ORDINANCE WILL BE GAZETTED ON FRIDAY (FEBRUARY 12).
THE MAIN OBJECTIVE OF THE BILL IS TO PLUG A LOOPHOLE IN THE EXISTING LEGISLATION IN REGARD TO THE PUBLICATION OF FILMS
AS VIDEOS AND LASER DISCS.
CURRENTLY FILMS APPROVED) FOR EXHIBITION IN CINEMAS WHEN PUBLISHED AS VIDEO TAPES OR LASER DISCS ARE EXEMPTED FROM THE CONTROL OF EITHER THE FILM CENSORSHIP ORDINANCE OR THE CONTROL OF OBSCENE AND INDECENT ARTICLES ORDINANCE.
FROM
AS A RESULT, YOUTHS UNDER THE AGE OF 18 ARE NOT PROTECTED ACCESS TO VIDEO TAPES OR LASER DISCS MADE FROM CATEGORY III FILMS ALTHOUGH JUVENILES ARE NOT PERMITTED TO SEE SUCH FILMS IN CINEMAS.
THE BILL. SEEKS ΤΟ REGULATE THE PUBLICATION OF FILMS AND PROHIBITS THE PUBLICATION OF CATEGORY If I FILMS TO JUVENILES WHEN RELEASED AS VIDEO TAPES AND LASER DISCS.
ANOTHER PURPOSE OF THE BILL IS TO INCREASE SOME OF THE PENALTY LEVELS SO AS TO ACHIEVE THE DESIRED DETERRENT EFFECT.
THE PENALTIES WERE SET IN 1988 WHEN THE ORDINANCE
AND SOME HAVE BECOME OUTDATED.
IN ORDER TO ALLOW THE INDUSTRY AN ADEQUATE GRACE COMPLY WITH THE REQUIREMENTS OF THE AMENDED ORDINANCE, THE BE BROUGHT INTO EFFECT SIX MONTHS AFTER ITS ENACTMENT.
WAS ENACTED
PERIOD ΤΟ BILL WILL
THE BILL WILL BE INTRODUCED INTO THE FEBRUARY 24.
0
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LEGISLATIVE
COUNCIL ON
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