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The Master of Faculties in England does not grant notarial faculties to applicants from Hong Kong without the support of the Hong Kong Society of Notaries and the prior approval of the Chief Justice.
The applicants have also had to sit and pass a notarial examination. These arrangements have no statutory basis.
The spokesman said the new statutory arrangements would give the Chief Justice the power of appointing notaries public and the responsibility for conducting the qualifying examination.
The Chief Justice would also be empowered to make rules regarding applications and to specify certain fees.
The legal profession has been consulted on the Bill.
End
Monetary statistics for December published
According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits rebounded in December 1995, while total loans and advances grew moderately.
Table 1 summarises figures for December 1995 and comparisons with earlier months. Table 2 provides an analysis of loans and advances for use in Hong Kong by major economic sector in the December quarter.
Deposits
Total deposits increased by 1.6% in December, compared with the 0.1% decline in November. This was due to a 2.5% increase in HK$ deposits as well as a 0.7% increase in foreign currency deposits.
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