TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 216

SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY IN LEGISLATIVE COUNCIL : THURSDAY 18 APRIL 1985

Sir,

I support the amendment to delete the whole of

Clause 8 from this Bill which will be moved at the Committee

Stage by Mr Brown. The Council of the Hong Kong Society of Accountants has confirmed its agreement to this approach which will permit the remainder of the Bill to be passed. It will also strengthen the administration and procedures of

the Council and clarify, as proposed in Clause 7, the requirements for a professional accountant to be issued with a practising certificate under Section 29A of the Ordinance.

I take this opportunity to thank the President and Council of the Hong Kong Society of Accountants for their patient and detailed responses to the many questions put to them. May I also thank Mr Brown and the Monetary Policy Group in UMELCO for the meticulous yet sympathetic

examination of the issues involved. This protracted exercise clearly indicates that this Council is responsive to matters of public concern even where the clause at issue in this Bill would have affected only a small, and decreasing, number of practising accountants. The compromise proposed by Unofficial Members has the Administration's support.