TNAG-1765-FCO40-2519-Hong-Kong-stock-market-and-exchange-rate-1989 — Page 121

Annex D

Tentative Timetable for the Introduction

of a Central Clearing System

and Extension of Stock Transaction Settlement Period

July 1988

•

December

The SEHK to consider the length of extension

of the settlement period.

Discussion among the SEHK and the major

banks on the establishment of a statutory

non-profit-making clearing house and perhaps

a depository for the securities industry.

Interim improvements introduced.

. Consultation with all interested parties.

•

The SEHK and the participating banks to

commence drawing up the constitution of the

proposed clearing house and the proposed

legislative amendments to accommodate the

clearing house.

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