XN000022-1994-05-13 — Page 9

FRIDAY, MAY 13, 1994

THE REGULATION ALSO SIMPLIFIED THE ISSUE OF PASSES TO ENTER THE RESTRICTED AREA WITHIN THE TERMINAL PREMISES. THE TYPES OF PASSES HAVE BEEN REDUCED FROM FIVE TO THREE.

IT ALSO EXEMPTS HELICOPTER PASSENGERS FROM WEARING PASSES WHEN ENTERING THE RESTRICTED AREA.

PROVISIONS HAVE ALSO BEEN MADE TO ALLOW PERSONS TO BE ESCORTED INTO RESTRICTED AREA UNDER CERTAIN CIRCUMSTANCES SUCH AS FOR RECORDING A COMPLAINT OR TO VISIT PERSONS DETAINED IN A TERMINAL.

ALSO GAZETTED TODAY WAS

THE MERCHANT SHIPPING (FEES) { AMENDMENT) REGULATION 1994 WHICH REVISED THE FEE STRUCTURES FOR SURVEYING OF PASSENGER SHIPS AND RADIO COMMUNICATIONS EQUIPMENT FOR THE WHOLE PERIOD THE SURVEYORS ARE STAYING OUTSIDE HONG KONG.

"THE REVISION IS TO RECTIFY THE UNDER-RECOVERY OF COSTS. THE REGULATION PROVIDES THAT ALL FEES RELATING TO SURVEYS AND INSPECTIONS OF PASSENGER SHIPS AND RADIO COMMUNICATIONS EQUIPMENT OUTSIDE HONG KONG SHOULD INCLUDE ELEMENTS FOR TRAVELLING TIME AND COSTS,' HE SAID.

OF

IT

THESE AMENDMENTS ARE TO RECTIFY THE UNDER-RECOVERY OF COSTS BECAUSE THE EXISTING FEES CHARGED FOR SURVEYING

PASSENGER SHIPS AND RADIO COMMUNICATIONS EQUIPMENT ARE BASED ON AS IF THEY WERE CARRIED IN HONG KONG.

AS SURVEYORS WERE OUTSIDE HONG KONG, IT WAS ONLY FAIR THAT THEIR ACTS SHOULD BE ENCOURAGED, THE SPOKESMAN SAID,

A THIRD MARITIME REGULATION, SHIPPING AND PORT CONTROL (TYPHOON SHELTERS) (AMENDMENT) REGULATION 1994, WAS ALSO GAZETTED TO DELETE CERTAIN REGULATIONS IN THE SHIPPING AND PORT CONTROL (TYPHOON SHELTERS) REGULATIONS WHICH APPLY SPECIFICALLY TO THE OLD YAU MA ΤΕΙ TYPHOON SHELTER.

"THESE PROVISIONS ARE OBSOLETE FOLLOWING THE RECLAMATION OF THE OLD YAU MA TEI TYPHOON SHELTER," THE SPOKESMAN SAID.

GREATER FINANCIAL DISCLOSURE RECOMMENDED

*

THE WORKING PARTY ON FINANCIAL DISCLOSURE WHICH IS CHAIRED BY THE HONG KONG MONETARY AUTHORITY (HKMA) HELD IT'S FOURTH MEETING TODAY (FRIDAY).

THE WORKING PARTY REAFFIRMED ITS EARLIER RECOMMENDATION THAT THERE SHOULD BE SUBSTANTIALLY GREATER FINANCIAL DISCLOSURE BY AUTHORISED INSTITUTIONS IN HONG KONG, BEGINNING WITH THE ACCOUNTS FOR 1994.

THIS WOULD MEAN FULL DISCLOSURE OF BANKS' PROFITS FOR 1994, INCLUDING ANY TRANSFERS ΤΟ AND FROM INNER RESERVES. MUCH MORE DETAILED BALANCE SHEET INFORMATION WOULD ALSO BE PUBLISHED IN THE 1994 ACCOUNTS.

/THE WORKING