XN000022-1996-06-05 — Page 45

-

·

26 -

If the MA considers that, as a result of outsourcing, the AI is carrying on its business in a manner detrimental to the interests of its depositors, potential depositors or creditors, the MA has powers under section 52 of the Banking Ordinance to require the AI to take such action in relation to its affairs and business as he may consider necessary. This could include a direction to the AI to terminate the outsourcing arrangement if the MA is not satisfied with the control measures.

The MA also has powers under section 59(2) of the Banking Ordinance to require Als which have outsourced data processing to submit reports prepared by their auditors on the adequacy and the operation of the systems and controls for protecting the integrity and confidentiality of customer information. The MA expects external auditors to have unrestricted access to the outsourcing contractor for this purpose.

End

Disposal of toxic wastes

Following is a question by the Hon Chim Pui-chung and a written reply by the Secretary for Planning, Environment and Lands, Mr Bowen Leung, in the Legislative Council today (Wednesday):

Question:

Will the Government inform this Council whether there were any cases involving foreign countries transporting toxic wastes to the territory for disposal in the past three years; if so, what safety measures were adopted by the departments concerned in the disposal of such wastes?

Answer:

Mr President,

The Environmental Protection Department has not received any application for the import of toxic waste into Hong Kong for disposal in the past three years. The import of such waste into Hong Kong for disposal is subject to control under the Waste Disposal Ordinance, which prohibits such imports unless a permit has been obtained in advance from the Environmental Protection Department. Environmental Protection Department would not normally grant such a permit. Any disposal that was permitted would need to be carried out in an environmentally sound manner to the satisfaction of the Director of Environmental Protection.

The

End