XN000022-1993-06-30 — Page 39

WEDNESDAY, JUNE 30, 1993

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PRODUCTIVITY COUNCIL MORE FLEXIBLE ON COMMITTEE STRUCTURE

THE PRODUCTIVITY COUNCIL 18 GIVEN MORE FLEXIBILITY IN DECIDING ITS COMMITTEE STRUCTURE UNDER A BILL INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

THE HONG KONG PRODUCTIVITY COUNCIL (AMENDMENT) BILL 1993 ALSO SEEKS TO REMOVE THE REQUIREMENT TO ESTABLISH AN EXECUTIVE COMMITTEE.

MOVING THE SECOND READING OF THE BILL, THE SECRETARY FOR TRADE AND INDUSTRY, MR TH CHAU, SAID THE MAXIMUM NUMBER OF MEMBERS REPRESENTING MANAGEMENT, LABOUR AND PROFESSIONAL OR ACADEMIC INTERESTA ON THE COUNCIL WAS ALSO PROPOSED TO INCREASE FROM 16 TO 17.

"AT

THE SAME TIME, THE MAXIMUM NUMBER OF PUBLIC THE COUNCIL WILL BE REDUCED FROM SIX TO FIVE," HE SAID.

OFFICIALS ON

THESE CHANGES WILL ENABLE THE GOVERNMENT, WITHOUT REDUCING THE EXISTING NUMBER OF NON-OFFICIAL MEMBERS, TO APPOINT TO THE COUNCIL THE EXECUTIVE DIRECTOR OF THE VOCATIONAL TRAINING COUNCIL, WHO IS NOT A PUBLIC OFFICIAL, IN PLACE OF THE DIRECTOR OF TECHNICAL EDUCATION AND INDUSTRIAL TRAINING (DTEIT).

THE

THE DTEIT, AS A PUBLIC OFFICIAL, WAS FORMERLY A MEMBER OF COUNCIL. HIS FUNCTIONS HAVE LARGELY BEEN TAKEN OVER BY THE EXECUTIVE DIRECTOR OF THE VOCATIONAL TRAINING COUNCIL.

MR CHAU SAID THE BILL ALSO SOUGHT TO INCORPORATE A CLAUSE GOVERNING CONFLICT OF INTEREST SO THAT THE PUBLIC INTEREST MAY BE BETTER SAFEGUARDED.

DEBATE ON THE BILL WAS ADJOURNED.

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BILL TO PROTECT MARKET INVESTORS

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A BILL THAT SEEKS TO FACILITATE THE FURTHER DEVELOPMENT OF CAPITAL MARKETS WHILE SAFEGUARDING THE PROTECTION OF INVESTORS WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MOVING THE SECOND READING OF THE PROTECTION OF INVESTORS (AMENDMENT) BILL 1993, THE SECRETARY FOR FINANCIAL SERVICES, MR MICHAEL CARTLAND, SAID THE BILL UPDATED AND CLARIFIED CERTAIN PROVISIONS OF THE ORDINANCE.

THE PROPOSED REVISIONS MAINLY PROVIDE EXEMPTIONS FROM PROHIBITIONS ON THE ISSUE OF ADVERTISEMENTS, INVITATIONS OR

INVITATIONS OR DOCUMENTS IN RESPECT OF DEBT MARKET INSTRUMENTS, SUCH AS CERTIFICATES OF DEPOSIT AND COMMERCIAL PAPERS, UNDER CERTAIN CIRCUMSTANCES.

/SUCH EXEMPTIONS