XN000022-1993-03-10 — Page 23

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WEDNESDAY, MARCH 10, 1993

MR

BLAKE EXPLAINED THAT THE PRESENT EXTENSION HAD NO DIRECT IMPACT ON THE AIRPORT CORE PROGRAMME AS A WHOLE EXCEPT THAT ONE PURPOSE OF THE RECLAMATION WAS TO PROVIDE LAND FOR THE AIRPORT RAILWAY'S HONG KONG STATION,

"WHILST DESIGN WORK ON THE AIRPORT RAILWAY INCLUDING THE HONG KONG STATION IS WELL UNDERWAY, PROGRESS ON THE AIRPORT RAILWAY DEPENDS NOT ONLY ON THIS PHASE 1 RECLAMATION BUT ALSO REACHING AGREEMENT WITH THE CHINESE SIDE ON FINANCING ARRANGEMENTS FOR THE AIRPORT RAILWAY,' HE SAID.

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NO NEED TO MONITOR DEBT COLLECTION ACTIVITIES

DEBT COLLECTION IS A LEGITIMATE ACTIVITY AND THE ADMINISTRATION DOES NOT CONSIDER THAT THERE IS ANY PRUDENTIAL NEED FOR MONITORING OR REGULATION, THE SECRETARY FOR MONETARY AFFAIRS, MR MICHABL CARTLAND, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY),

REPLYING TO A QUESTION BY THE HON FREDERICK FUNG KIN-KEE, MR CARTLAND SAID HOWEVER, IF INDIVIDUAL DEBT COLLECTORS WERE TO RESORT TO ILLEGAL MEANS TO PURSUE THEIR BUSINESS, SUCH AS CRIMINAL DAMAGE, INTIMIDATION OR VIOLENCE, THIS WOULD BE A LAW AND ORDER MATTER THAT WOULD BE DEALT WITH BY THE POLICE.

"THERE IS NO SUPERVISION OF THE OPERATION OF DEBT COLLECTING COMPANIES, HE SAID.

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HONG KONG'S BANKING LEGISLATION DOES NOT CONTAIN PROVISIONS DEALING WITH THE HIRING OF THIRD PARTIES BY AUTHORISED INSTITUTIONS TO HELP IN THE RECOVERY OF OUTSTANDING LOANS.

"THE SYSTEM OF BANKING SUPERVISION IS NOT GRARED TOWARDS THE REGULATION OF THE DAY-TO-DAY OPERATION OF INSTITUTIONS, SUCH AS THE WAY IN WHICH OUTSTANDING LOANS ARE RECOVERED, MR CARTLAND SAID.

ACTS

WHETHER OR

NOT AN INSTITUTION CAN BE IMPLICATED IN CRIMINAL COMMITTED BY ITS AGENTS WILL DEPEND ON THE CIRCUMSTANCES OF CASE, HE SAID.

THE

LEGAL ADVICE SUGGESTS THAT A PERSON IN HIS INDIVIDUAL CAPACITY OR A PERSON ACTING ON BEHALF OF AN ORGANISATION WILL NOT NORMALLY BE HELD LIABLE FOR THE ACTIONS OF THE DEBT COLLECTING AGENTS COMMISSIONED BY HIM TO COLLECT DEBTS FOR HIM OR HIS ORGANISATION.

THE PERSON MAY, HOWEVER, BECOME CRIMINALLY LIABLE IF HE COUNSELS, PROCURES, AIDS OR ABETS THE AGENT TO COMMIT A CRIMINAL OFFENCE.

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