2
པ་་- --
I believe that our industry is cautiously optimistic for the future, although we do, of course, reserve the right to see if the Bill will work as well in practice as on paper, and whether in addition to providing the promised antidotes, there might be side effects we did not anticipate.
I propose that this Bill be introduced with the utmost care and with a pledge to the community of regular and fair review and a large measure of flexibility in adapting the provisions of My personal view the Bill to a constantly changing environment. is that we should, in time, give further consideration to permitting aggrieved institutions the right of appeal to an independent committee, consisting of a judge and members of this Council who are not involved in the financial and banking sector.
Hong Kong is a vital international centre for finance and investment. We must sustain and enhance our position, and in doing so, maintain a balance between prudent regulation and the free enterprise policies that have historically served us so well. I would reiterate that ultimately, sound banks depend more on good bankers than on good banking laws.
Finally, on behalf of the banking and financial community, may I offer our best wishes to our Financial Secretary on this his last attendance in this Council and extend to him our gratitude for an outstanding job performed under most difficult
conditions.
With these remarks, Sir, I support the motion.