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CONFIDENTIAL ##
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Characteristics of the Airport Authority
5.
MTRC.
It is intended that the future Airport Authority
will in fact share many of the characteristics of the
It will be a body corporate, established under
legislation and wholly owned by the Government. Like the
the future Airport Authority Ordinance will
the framework within which the Authority will
including the policy and financial objectives laid
MTRC Ordinance
establish
operate,
down by the Government.
the
set
the
The legislation will also specify
composition and functions of the Authority, and will
out in detail its powers and responsibilities.
As with
MTRC and indeed other statutory bodies which operate in
a commercial manner, wẹ will expect the Authority to raise
part of its funding requirements through borrowings in the
local and international
markets.
The Authority will,
however, be accountable for its actions and will be
expected to submit to the Government its audited annual
As with the MTRC, the Government
accounts for scrutiny.
will also retain the power to direct the Authority should
the need arise.
Membership of the Airport Authority
6.
yet been
membership of the Airport Authority has not
The
decided
but
we envisage that it will comprise a
CONFIDENTIAL