XN000022-1996-02-28 — Page 3

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"The exchanges were very useful and we built on the accords reached with our Vietnamese counterparts last year.

"We are particularly pleased that the repatriation of new arrivals has been put on a firm footing," he said.

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Bills for better investor protection to be introduced

Two bills which seek to strengthen the relevant risk management systems and to enhance protection for investors will be published in the Government Gazette on Friday (March 1).

The Leveraged Foreign Exchange Trading (Amendment) Bill 1996 and the Securities and Futures Commission (Amendment) Bill 1996 will be introduced into the Legislative Council on March 13.

A Financial Services Branch spokesman said: "The Leveraged Foreign Exchange Trading (Amendment) Bill 1996 seeks to require a trader licensed under the Leveraged Foreign Exchange Trading Ordinance (LFETO) to obtain the consent of the Securities and Futures Commission (SFC) prior to the sale or issue of substantial holdings in its shares.

"Likewise, the Securities and Futures Commission (Amendment) Bill 1996 seeks to amend the SFC Ordinance so that the consent of the SFC is required prior to the sale or issue of substantial holdings in shares in a company registered with the SFC as dealers or investment advisers."

The spokesman added that the Leveraged Foreign Exchange Trading (Amendment) Bill 1996 also amended LFETO so that the making of orders by the High Court under section 13 would apply to any person, instead of to licence holders only, and any such order might specify assets other than currency.

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