Page
CONFIDENTIAL
M.
EXECUTIVE COUNCIL DECISION ON 23.4.91.
ATTRACTION OF QUALIFIED MANPOWER
FROM OVERSEAS: XCC (91) 62
DECISION
The Council. ADVISED and the Governor ORDERED
that
(a)
a
(b)
(c)
(d)
be
joint
should venture company established with the Hong Kong Institute of Personnel Management and other private sector interests to facilitate the recruitment of qualified manpower from overseas;
venture
should
Government's participation in the joint be represented by a contribution in terms of equity and interest-free loan of not more than $3 million in the first year (provided that Government's share of the company's equity does not exceed 49%) and by not two seats on the company's
more
than
board of directors;
the extent of Government's future financial participation should be
decided in the light of further developments; and
the Chief Executive of the company should preferably be an individual with considerable business experience.
у
CLERK OF COUNCILS
CONFIDENTIAL
!