XN000022-1994-11-16 — Page 9

WEDNESDAY, NOVEMBER 16, 1994

7

OF

OF

THE

DRAFTING DIVISION,

WONG

THE DPCC CHOSEN TO TAKE PART IN THE SCHEME ARE MR HARRY MACLEOD THE

DIVISION, MS MAY PROSECUTIONS

WONG

LAW DIVISION, MR ANTHONY WU AND MS AMELIA LUK OF THE CIVIL MRKENNETH YUEN OF THE INTERNATIONAL LAW DIVISION AND MR STEPHEN OF THE LEGAL POLICY DIVISION.

THE SPOKESMAN SAID THE SUCCESSION POSTS SCHEME IS DRIVE BY

LOCALISATION THE LEGAL DEPARTMENT TO SPEED UP ATTORNEY GENERAL'S CHAMBERS.

THE LATEST WITHIN THE

INTRODUCED

IN

SINCE 1988, TWO LOCALISATION SCHEMES HAVE BEEN THE DEPARTMENT ΤΟ SPEED UP THE PACE OF LOCALISATION IN THE CROWN COUNSEL GRADES. THESE ARE THE DOUBLE LADDER SCHEME INTRODUCED IN 1988 FOR FAST PROMOTION OF CROWN COUNSEL (CC) TO SENIOR CROWN COUNSEL (SCC) GROOMING OF AND THE DEVELOPMENT POSTS SCHEME INTRODUCED IN 1991 FOR SCC TO DPCC.

PROPORTION

OF

AS A RESULT OF THESE LOCALISATION DRIVES, THE LOCAL COUNSEL IN THE DIRECTORATE LEVEL HAS BEEN INCREASED FROM 9.3 PER CENT IN DECEMBER 1990 TO 32 PER CENT THIS MONTH.

ALSO

INCREASED FROM THIS IS 14 MONTHS

LOCALISATION IN THE CC GRADE OVERALL HAS 38.6 PER CENT IN DECEMBER 1988 TO 60 PER CENT NOW. AHEAD OF THE DEPARTMENT'S TARGET OF END OF 1995, THE SPOKESMAN SAID.

WAS

ALSO

HE ADDED

CONFIDENT THAT THE LEGAL DEPARTMENT ACCOMPLISH THE 50 PER CENT TARGET IN THE DIRECTORATE LEVEL BY END NEXT YEAR.

то

OF

NOTING

THAT THE DEPARTMENT WOULD CONTINUE EFFORTS,

WITH

ITS VARIOUS TIME,

IT WAS

LOCALISATION

THE SPOKESMAN SAID AT THE SAME MINDFUL THAT THE PACE OF LOCALISATION MUST BE REALISTIC AND MEASURED.

"OPERATIONAL EFFICIENCY AND QUALITY OF SERVICE SHOULD IN NO WAY BE SACRIFICED, HE STRESSED.

11

LIQUIDITY ADJUSTMENT FACILITY RATES GO UP

* *

BEFORE THE

KEY

THE HONG KONG MONETARY AUTHORITY (HKMA) ANNOUNCED OPENING OF THE MONEY MARKETS TODAY (WEDNESDAY) AN INCREASE IN THE INTEREST RATES, THE LIQUIDITY ADJUSTMENT FACILITY (LAF) RATES, BY 0.75 PERCENTAGE POINT.

IN LINK WITH THE INCREASE IN THE D.S DISCOUNT RATE AND

INCREASED FUNDS RATE BY THE FEDERAL RESERVE LATE LAST NIGHT, THE HKMA THE LAF BID AND OFFER RATES TO 3.75 PER CENT AND 5.75 PER CENT FROM PER CENT AND 5 PER CENT RESPECTIVELY, WITH IMMEDIATE EFFECT.

FED

•

3

BID THE

AND OFFER RATES OF LAF, HONG KONG'S VERSION OF WINDOW,

FOR SET THE FLOOR AND CEILING DISCOUNT RATES IN THE HONG KONG INTERBANK MARKET.

A

OVERNIGHT

INTEREST

/THE LATEST