CONFIDENTIAL 機密
ANNEX A TO XCC(75)6
Extract from liemorandum for Executive Council No, XCC(73)10
Institutional Arrangements for Operating the MTR
28.
Whatever arrangements are made to finance, construct and equip the system, an authority would need to be established to oversee and co-ordinate the design, construction and equipment of the IITR, and to operate and maintain the system after construction. Bearing in mind that:
(a) a significant element of equity capital should
be injected in the earlier years, for the reasons stated in paragraph 18 above;
(b) this equity should be provided entirely by the Government initially, in view of the long pay-back period, although the private sector might be invited to participate in the equity at a later stage; and
(c) the ITR will be at the core of the Government's
overall transport policy in the 1980s,
it is considered that the authority should be subject to a greater degree of 'Governement supervision and control than the Cross Harbour Tunnel Company and other public utilities.
29.
It is accordingly proposed that the authority should be a statutory Corporation, created by Ordinance. It should be directed by a Board, the Chairman and members of which would initially be appointed by the Governor. Apart from the executive head, the Corporation would have four divisions dealing with finance, engineering, operation and administration. It may take some time for the Corporation to recruit qualified personnel to undertake these functions and, until it can do so, it may need to employ agents or representatives to assist it, although it would still need to be sufficiently staffed to ensure that any specialist firms employed would act as its agents and be subject to its directions.
30. namely:
Such specialist firms might be employed in three areas,
(a) raising finance;
(b) engineering consultancy; and
(c) project management,
In practice these functions overlap and there are firms which can perform more than one of them. This possible overlapping would not, however, preclude there being a role for all three sets of advisers, each performing the tasks for which they are most suited.
G.F. 323
CONFIDENTIAL
機密