XN000022-1994-08-31 — Page 3

2

WEDNESDAY, AUGUST 31, 1994

IN

OF THE SENTENCES BECAUSE MR MATHEWS DECIDED TO SEEK A REVIEW

WRONG AND/OR MANIFESTLY INADEQUATE TO BE HE CONSIDERED THEM

AND, PRINCIPLE. HIS APPLICATION FOR LEAVE WAS FILED TODAY (WEDNESDAY}

WILL THEN

HIS LODGE IF IT

MR

APPLICATION.

IS

GRANTED,

MATHEWS

SUBSTANTIVE

THEREAFTER, THE SUPREME COURT WILL, IN

DUE COURSE,

REVIEW FOR HEARING, A SPOKESMAN FOR THE LEGAL DEPARTMENT SAID.

HIGHER WAGE FOR DOMESTIC HELPERS

LIST THE

THE GOVERNMENT TODAY (WEDNESDAY) ANNOUNCED A CHANGE IN THE WAGE REQUIREMENT FOR THE EMPLOYMENT OF FOREIGN DOMESTIC HELPERS.

EMPLOYMENT CONTRACTS NOTARISED BY RELEVANT CONSULATES FROM PER MONTH THURSDAY (SEPTEMBER 1) MUST CARRY A WAGE NOT BELOW $3,750 PRIOR TO SUBMISSION TO IMMIGRATION DEPARTMENT FOR PROCESSING.

CONTRACTS RE-ENGAGEMENT

1 NOTARISED BEFORE SEPTEMBER

SHOULD EFFECT BEFORE ALSO CARRY THE NEW WAGE IF SUCH CONTRACTS DO NOT TAKE OCTOBER 1 (SATURDAY).

$250 A GOVERNMENT SPOKESMAN SAID THE LEVEL OF WAGE INCREASE OF

HAD MADE REFERENCE TO RELEVANT

ON STATISTICS

THE WAGE MONTH MOVEMENT OF LOCAL WORKERS.

PER

AT PRESENT THERE ARE MORE THAN 130,000 FOREIGN DOMESTIC HELPERS WORKING IN HONG KONG, MOSTLY FROM THE PHILIPPINES.

JOINT RECOMMENDATIONS ON FINANCIAL DISCLOSURE

BY AUTHORISED INSTITUTIONS

*

OF

THE HONG KONG MONETARY AUTHORITY (HKMA) THE STOCK EXCHANGE HONG KONG LIMITED (EXCHANGE) AND THE SECURITIES AND FUTURES COMMISSION (SFC) ANNOUNCED TODAY (WEDNESDAY) JOINT RECOMMENDATIONS ON ADDITIONAL DISCLOSURES TO BE INCLUDED IN THE ACCOUNTS OF AUTHORISED INSTITUTIONS FOR ACCOUNTING PERIODS ENDING ON OR AFTER DECEMBER 31 THIS YEAR.

THE RECOMMENDATIONS ARE APPLICABLE TO BOTH LISTED AND NON- LISTED AUTHORISED INSTITUTIONS. IMPLEMENTATION OF THE

WILL PACKAGE SUBSTANTIALLY INCREASE THE TRANSPARENCY OF AUTHORISED INSTITUTIONS' PERFORMANCE AND FINANCIAL STRENGTH. IT WILL ALSO BRING THE STANDARD OF FINANCIAL DISCLOSURE IN HONG KONG SUBSTANTIALLY INTO LINE WITH THAT IN OTHER MAJOR INTERNATIONAL FINANCIAL CENTRES.

THE RECOMMENDATIONS HAVE BEEN JOINTLY DEVELOPED BY THE HKMA, THE EXCHANGE AND SFC ON THE BASIS OF THE RECOMMENDATIONS OF THE HKMA WORKING PARTY ON FINANCIAL DISCLOSURE AND THE EXCHANGE'S PUBLIC CONSULTATION ON PROPOSED CHANGES TO THE LISTING RULES IN RESPECT OF

LISTED BANKS.

/THE BANKING