TNAG-1611-FCO40-2214-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1987 — Page 19

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I would be more than content to have my role examined by

that committee. AS far as the second part of

officers in the

Mr. LI'S

Monetary

question is concerned where he referred to Hong Kong being

the only market to close, he no doubt saw in the newspaper

the other day that one other market, the New York market,

was said to be within five to ten minutes of having

closed, but that was one person's opinion. Mr. LI

questions the competency of

Affairs Branch in the light of that closure and in the

light of Hong Kong Government having to assist. As I have

said in this Council and elsewhere on many occasions, the

decision to close was the decision of the Stock Exchange

itself. It did not need the approval

the approval of the Government.

Once that decision had been made and the market had been

closed, the Government had a very clear and very simple

responsibility and that was to ensure that the markets

refopened again in the shortest possible period of time in

an orderly and normal manner. That we achieved and I

think that all those involved were seen to have performed

extremely well. There could be no question raised at all

about their competency.

le.

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