XN000022-1997-01-07 — Page 11

-

10

Fact 19

Myth 20

Fact 20

Financial difficulties faced by many solicitors in England were a result of the worst recession this century, during which the volume of conveyancing halved and prices fell in real terms by 45%.

Scale fees would have prevented such financial difficulties.

The English Law Society's own special working party on conveyancing services concluded that, because of the state of themarket, fee scales would have been unworkable and ineffective.

End

NLB franchise renewal

Following consultation with the Sino-British Joint Liaison Group, the Governor-in-Council has approved the grant of a new franchise to New Lantao Bus Company (1973) Limited (NLB) which confers upon the company the right to operate a public bus service for ten years from 1 April 1997.

A government spokesman said today (Tuesday) that a number of changes and several new provisions were incorporated into the new franchise, including a new requirement for a mid-term review.

"The mid-term review is to be conducted after the fourth year of the new franchise. Based on the outcome of such a review, the Governor in Council may, if necessary, and with the consent of NLB, amend the terms of the franchise," the spokesman added.

End