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FRIDAY, JANUARY 29, 1993
APPOINTMENT TO SECURITIES AND FUTURES APPEALS PANEL
* * * * *
THE SECRETARY FOR MONETARY AFFAIRS, MR MICHAEL CARTLAND, ANNOUNCED TODAY (FRIDAY) THAT THE GOVERNOR HAD APPOINTED MR DEREK MURPHY, MR JAMES TIEN PEI-CHUN, AND MR RODERICK WOO-BUN TO THE
SECURITIES AND FUTURES APPEALS PANEL (SFAP).
SECTION 18 OF THE SECURITIES AND FUTURES COMMISSION (SFC) ORDINANCE PROVIDES FOR THE ESTABLISHMENT OF THE SFAP TO HEAR APPEALS AGAINST DECISIONS BY THE SFC IN RELATION ΤΟ APPLICATION FOR, OR SUSPENSION OR REVOCATION OF REGISTRATION AND THE EXERCISE OF INTERVENTION POWERS BY THE COMMISSION.
THIS SECTION WAS RECENTLY AMENDED TO EXCLUDE THE NON-EXECUTIVE DIRECTORS (NEDS) OF SFC FROM THE PANEL MEMBERSHIP WHILE INCREASING THE NUMBER OF INDEPENDENT MEMBERS TO NOT LESS THAN FIVE BUT NOT MORE NINE.
"THE CHANGES ARE INTENDED TO ENSURE THE PANEL AND THE IMPARTIAL HEARING OF APPEALS,
..
THAN
INDEPENDENCE OF THE
MR CARTLAND SAID.
AS A RESULT OF THE CHANGES, THE SFAP WILL HAVE A MAXIMUM OF 11 MEMBERS, NAMELY THE CHAIRMAN AND DEPUTY CHAIRMAN, WHO ARE BOTH QUALIFIED IN LAW, AND FIVE TO NINE INDEPENDENT MEMBERS.
EACH APPEAL WILL BE HEARD BY A TRIBUNAL OF THREE CONSISTING EITHER THE CHAIRMAN OR THE DEPUTY CHAIRMAN AND TWO OTHER MEMBERS THE PANEL.
WILL
TAKE
OF
OF
EFFECT ON
ALL, THE THREE NEW APPOINTMENTS FEBRUARY 1, 1993 WHEN THE ABOVE LEGISLATIVE AMENDMENTS ARE TO COME INTO OPERATION. THEY WILL LAST UNTIL APRIL 30, 1995.
THE NEDS OF THE SFC WILL CEASE TO BE MEMBERS OF THE SFAP ON FEBRUARY 1, 1993 ACCORDINGLY.
IN
"I WOULD LIKE TO THANK THE NEDS FOR THEIR SERVICE ON THE PANEL, PARTICULAR MR DENIS CHANG KHEN-LEE, WHO HAS BEEN A MEMBER OF THE PANEL SINCE ITS INCEPTION.'
CONTRACT SIGNED FOR TRANSMISSION PIPELINES FOR CHINA WATER
MUK WU
OF AND
(FRIDAY) SIGNED A $129 LARGE DIAMETER WATER AU TAU IN THE NEW
THE WATER SUPPLIES DEPARTMENT TODAY MILLION CONTRACT FOR THE SUPPLY AND LAYING TRANSMISSION TERRITORIES.
PIPELINES BETWEEN
THIS IS THE NINTH IN A SERIES OF CONTRACTS FOR THE CHINA SUPPLY PROJECT WHICH PROVIDES FOR STAGED EXPANSION RECEIVE AND TRANSFER ADDITIONAL WATER SUPPLY
OF FACILITIES FROM CHINA.
WATER
то
/ON COMPLETION