XN000022-1995-06-21 — Page 48

- 30

the appropriate scope of offences that have to be disclosed so as to include all relevant offences, particularly those relating to fraud or dishonesty or breaches of securities, companies and related legislation,

the appropriateness of existing due diligence requirements on sponsors and underwriters, and

the appropriateness and sufficiency of the disclosure requirements for prospectus under the Companies Ordinance (Cap. 32).

The working party will soon release a document for public consultation.

End/Wednesday, June 21, 1995

Catering industry not exempted from Trade Effluent Surcharge

Following is a question by the Hon James Tien and a reply by the Secretary for the Planning, Environment and Lands, Mr Bowen Leung, in the Legislative Council today (Wednesday):

Question:

Following the implementation of the Sewage Services (Trade Effluent Surcharge) Regulation on 1 April 1995, the water bills to be paid by various operators in the catering industry have increased significantly. The increase which can be as high as 100% for some restaurants, will seriously affect the development of the catering industry and tourism. In order to avoid the closure of restaurants as a result of soaring water charges, which would aggravate the territory's unemployment problem, will the Government inform this Council :

(a)

(b)

whether consideration will be given to exempting the catering industry from the newly levied effluent surcharge or reducing the surcharge imposed on the catering industry as much as possible, and whether assistance will be given to restaurant operators in the installation of suitable effluent treatment facilities so as to reduce the extent of pollution caused by the discharged effluent:

whether it will consider granting a grace period: and