XN000022-1994-05-18 — Page 42

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WEDNESDAY, MAY 18, 1994

THIS WILL SERIOUSLY AFFECT THE FINANCIAL STABILITY OF DIRECT INSURERS, WHO MAY NOT HAVE THE NECESSARY FINANCIAL RESOURCES TO WITHSTAND CATASTROPHIC LOSSES, THE EXTENT OF WHICH CAN BE UNLIMITED.

"THE ACCIDENT INSURANCE ASSOCIATION OF HONG KONG REPRESENTING DIRECT INSURERS ARE DELIBERATING WITH THE FORUM HOW TO ADDRESS THIS PROBLEM.

"A WORKING GROUP HAS ALSO BEEN SET UP BY THE FORUM AND THE ASSOCIATION TO EXAMINE OPTIONS. ITS RECOMMENDATIONS ARE EXPECTED MID-JUNE," HE SAID.

BY

OPTIONS UNDER CONSIDERATION INCLUDE CAPPING THE COMMON LAW LIABILITIES OF AN EMPLOYER, CAR OWNER OR DRIVER UNDER THE RELEVANT LEGISLATION AND SPECIFYING A MINIMUM LEVEL OF LIABILITY WHICH HE WOULD BE REQUIRED TO INSURE AGAINST.

MOTION ON NUCLEAR POWER PLANT PASSED

THE MOTION ON NUCLEAR POWER PLANT WAS PASSED WITH AMENDMENTS BY

DURING THE COUNCIL IN AN HOUR-LONG DEBATE LEGISLATIVE SITTING TODAY (WEDNESDAY).

THE

COUNCIL

THE ORIGINAL MOTION WAS MOVED BY THE HON FUNG AMENDMENTS RAISED BY THE HON PETER WONG.

CHI-WOOD

WITH

THE ON

ACTING

COUNCILLORS HAD AFTER

SPOKEN

THE MOTION, SECRETARY FOR SECURITY, MR KEN WOODHOUSE, REPLIED FOR THE GOVERNMENT.

ANOTHER MOTION ON HOUSING SUPPLY, WHICH WAS PROPOSED BY THE HON

EDWARD HO, WAS ALSO PASSED.

SECRETARY CONCLUDING

THE DEBATED THE MOTION FOR ABOUT AN HOUR. MEMBERS FOR PLANNING, ENVIRONMENT AND LANDS, MR TONY EASON, GAVE A SPEECH.

IN ADDITION, MOTIONS MOVED BY GOVERNMENT OFFICIALS UNDER RATING

PASSENGER

TAX ORDINANCE, DEPARTURE

DUTY ORDINANCE, AIR

BETTING

CROSS- ORDINANCE, OFFICIAL LANGUAGES ORDINANCE, HOUSING ORDINANCE AND HARBOUR TUNNEL (PASSAGE TAX ORDINANCE, WERE PASSED.

THERE WERE ALSO SIX BILLS PASSED WITHOUT AMENDMENTS. INLAND REVENUE (AMENDMENT) BILL 1994, GAMBLING 1994, BUSINESS

THE

(AMENDMENT)

REGISTRATION

BILL 1994,

{ AMENDMENT} MOTOR VEHICLES

BILL (FIRST

THEY WERE

(AMENDMENT)

ESTATE

BILL

DUTY

REGISTRATION

TAX)

1994,

(AMENDMENT) BILL 1994 AND STAMP DUTY (AMENDMENT) BILL 1994.

WERE

THEY

FIVE BILLS WERE INTRODUCED FOR FIRST AND SECOND READINGS.

DANGEROUS THE

BILL 1994, DRUGS (AMENDMENT)

DANGEROUS DRUGS BILL 1994, ACETYLATING SUBSTANCES (CONTROL) (AMENDMENT) (NO. 2)

1994, ENVIRONMENT AND CONSERVATION FUND BILL AND (AMENDMENT) BILL

(MISCELLANEOUS AMENDMENTS) (NO. 2) ELECTORAL PROVISIONS

DEBATES ON THEM WERE ADJOURNED.

BILL 1994.