More than 30 pieces of legislation will be introduced into the Legislative Council in 2004-05 to implement new policy initiatives, Chief Secretary for Administration Donald Tsang says, adding that the Government will consider various factors before submitting legislative proposals.

Speaking on the Government's legislative programme at the council this afternoon, Mr Tsang said the new legislation arises from the Chief Executive's Policy Address and Policy Agenda; measures in the Financial Secretary's Budget speech; and policy commitments the Government has made.

To safeguard Hong Kong's position as an international financial centre and the premier capital formation centre of China, Hong Kong needs to upgrade continuously the quality and integrity of its financial markets, Mr Tsang said.

The Government will therefore introduce the following bills to serve the above purpose:

*the Securities & Futures (Amendment) Bill 2005;

*the Independent Investigation Board and the Financial Reporting Review Panel Bill; and

*another Companies (Amendment) Bill.

Bills aim to promote diversity, harmony

The secretary said a Hong Kong Management Areas Bill is needed to allow Hong Kong to provide immigration and customs facilities and enforce its laws in designated areas on the Mainland.

The Government will also introduce the Immigration (Amendment) Bill to provide for the automation of cross-boundary passengers clearance.

To promote a community of creativity, diversity and harmony, the Government will introduce the following legislative proposals:

* The Hong Kong Council for Academic Accreditation (Amendment) Bill;

* The Race Discrimination Bill; and

* The Smoking (Public Health) (Amendment) Bill.

Legislation will allow gradual privatisation of airport

Turning to the budget-related proposals, Mr Tsang said the Government proposes to introduce the Hong Kong International Airport Bill for the gradual privatisation of the Airport Authority.

"There will also be two revenue and tax exemption bills to implement the Financial Secretary's initiatives in the Budgets. They are the Revenue Bill which seeks to implement the 'Personalised Vehicle Registration Marks Scheme', and the Inland Revenue (Amendment) Bill that enables the provision of profits tax exemption for offshore funds."