XN000022-1993-02-17 — Page 31

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WEDNESDAY, FEBRUARY 17, 1993

AS I SAID IN THIS COUNCIL A MONTH AGO, WE BELIEVE THAT THE BEST WAY FORWARD IN THE DEVELOPMENT OF A COMPETITION POLICY IS TO ASCERTAIN WHAT ANTI-COMPETITIVE TRADE PRACTICES EXIST IN THOSE MAJOR BUSINESS SECTORS AFFECTING THE DAILY LIFE OF THE GENERAL PUBLIC. TO THIS END, WE HAVE ALLOCATED ADDITIONAL, FUNDS TO THE CONSUMER COUNCIL FOR THE PURPOSE OF CONDUCTING A SERIES OF STUDIES ON THE STATE OF COMPETITION IN SUCH MAJOR BUSINESS SECTORS. THE SECTORS BEING STUDIED ARE : SUPERMARKETS, THE BROADCASTING INDUSTRY, TELECOMMUNICATIONS, SUPPLY OF ENERGY AND FINANCIAL SERVICES. IN CONDUCTING THESE STUDIES, THE CONSUMER COUNCIL WILL, I AM SURE, HAVE REGARD TO ANY VIEWS EXPRESSED BY THE PUBLIC, THE CONCERNED BUSINESS SECTOR AND OTHER RELEVANT SECTORS OF THE ECONOMY. ON THE GOVERNMENT'S PART, WE SHALL CO-OPERATE FULLY WITH THE CONSUMER COUNCIL AND ASSIST IN THESE STUDIES IN ANY WAY WE CAN.

WE DO NOT WISH TO PRE-EMPT THE FINDINGS OF THESE SECTOR- SPECIFIC STUDIES. WE HAVE AN OPEN MIND AND ARE WILLING то CONSIDER ALL OPTIONS BEFORE RECOMMENDING WHICH OPTIONS ARE BEST SUITED ΤΟ PROMOTE COMPETITION IN DIFFERENT SECTORS OF OUR ECONOMY.

WE HOPE THAT THE FINDINGS OF THESE STUDIES WILL SHED LIGHT ON ANY PROBLEMS AFFECTING COMPETITION IN THESE SECTORS. ON THE BASIS OF THESE FINDINGS, WE SHALL, AS NECESSARY, REVISE OUR EXISTING POLICIES AND FORMULATE NEW ONES AND, WHERE APPROPRIATE, CONSIDER INTRODUCING LEGISLATIVE OR INSTITUTIONAL CHANGES TO IMPLEMENT THOSE POLICIES IN ORDER TO PROMOTE COMPETITION AND ENHANCE CONSUMER PROTECTION.

MR DEPUTY PRESIDENT, WE BELIEVE THAT THE GOVERNMENT SHOULD ADOPT A STEP-BY-STEP PRAGMATIC APPROACH IN ITS FORMULATION OF THE FRAMEWORKS THAT ARE MOST SUITED FOR ENHANCING COMPETITION IN THE DIFFERENT SECTORS OF OUR ECONOMY. WE BELIEVE THAT WE SHOULD NOT RUSH INTO CONCLUSIONS ON THIS IMPORTANT SUBJECT. WE SHOULD NOT AT THIS STAGE COME DOWN IN FAVOUR OF OR AGAINST ANY PARTICULAR OPTION, WHICH MAY OR MAY NOT INVOLVE A NEW INSTITUT LONAL ARRANGEMENT OR A NEW LEGISLATIVE FRAMEWORK, FOR THESE REASONS, THE EX-OFFICIO MEMBERS OF THIS COUNCIL WILL ABSTAIN FROM VOTING ON EITHER MR. LI'S MOTION OR MR. MCGREGOR'S AMENDMENT.

THANK YOU, MR DEPUTY PRESIDENT.

LEGCO CONSIDERS BILL ON FILING OF COMPANY RETURN

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OF

A BILL THAT AIMS TO ENSURE A MORE EVEN FLOW OF SUBMISSIONS ANNUAL RETURNS FOR FILING IN THE COMPANIES REGISTRY IS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

COMPANIES (AMENDMENT) (NO. 2) BILL 1993 ALSO SEEKS TO INTRODUCE A DEGREE OF FLEXIBILITY FOR COMPANIES LIMITED BY GUARANTEE AND ΤΟ PROVIDE FOR A COMPREHENSIVE INDEX OF THE DIRECTORS OF LISTED COMPANIES.

DIRECTORSHIPS

HELD BY

/IN ADDITION