8.
He emphasised that every investigation was a lengthy process, involving consultations with aircraft and component manufacturers and the need to allow all parties concerned the opportunity to make representations before a report could be finalised.
"I am familiar with the record of the Hong Kong Civil Aviation Department in investigating accidents, and given that their Inspectors of Accidents undertake their investigatory duties in the margins of their substantive jobs, their record compares very favourably with other accidents investigation authorities.
"From my dealings with the department, I am satisfied that they pursue the investigatory process in a diligent, professional and expeditious manner," he said.
Mr Lok said the investigation report was being prepared and was expected to be completed later in the year.
End/Tuesday, July 25, 1995
Order to provide nil levy for stock option trading endorsed
The Governor-in-Council has endorsed an order to exempt trading in stock options from payment of transaction levy for 12 months when the new product commences trading.
Secretary for Financial Services, Mr Michael Cartland, said today (Tuesday) the Securities and Futures Commission (Levy) (Securities) (Amendment) Order 1995 would be gazetted on Friday (July 28).
The Order provides for a nil levy for the purchase and sale of stock options. Without the legislative amendment, the present rate of levy of 0.013% payable on the purchase and sale of listed securities on the Stock Exchange of Hong Kong would have applied to stock options, as the definition of "securities" includes stock options.
The intention is that the levy holiday will apply for the first 12 months of the trading of stock options.
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