TNAG-1765-FCO40-2519-Hong-Kong-stock-market-and-exchange-rate-1989 — Page 167

2

3.

Endorsing the Exchange's initiative, the Financial

Secretary, MI David Nendick, said 'the initiative shown by

the Management Committee of the SEHK is a commendable move

which will speed up implementation of the Securities Review

demonstrates also Committee recommendations.

It

the

Exchange's willingness to co-operate with the Government in ensuring that Hong Kong's securities industry play its full

part

maintaining in

financial centre'.

4.

Mr

Nendick

our

position

as

an

international

indicated

if that

the Exchange's

voluntary efforts were to fail, regretfully, the Government

would have to consider the option of bringing about the

necessary changes through legislation.