CONTINUING OBLIGATIONS OF LISTED COMPANIES
(Chapter Twelve of the Report)
The SRC recommends that
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5.
the SEHK should carefully review current disclosure requirements with a view to making improvements.
(para. 12.10)
the Companies Ordinance should be amended to provide that the requirement for accounts to show a true and fair view overrides other provisions. (para. 12.11)
legislation should require disclosure of company shareholdings above 5%. (para. 12.13)
the SEHK should introduce a Code governing securities transactions by directors of listed companies.
(para. 12.16)
the SEHK should require listed companies to seek shareholders' prior agreement before major transac- tions, such as large acquisitions or disposals of assets are entered into, and to seek independent shareholders' prior approval for transactions in which a director or a substantial shareholder has a material interest. (para. 12.20)
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