WEDNESDAY, MAY 5, 1993
"WE ARE VERY READY TO RE-EXAMINE THE PRESENT RULES то WHETHER IMPROVEMENTS CAN BE MADE, HE SAID.
SEE
"
THE
AND SPECIFICALLY TO LOOK CAREFULLY AND POSITIVELY AT SUGGESTION OF INTRODUCING A SYSTEM OF REGISTERING AND DECLARING TRANSACTIONS IN LOCAL INVESTMENT MARKETS, POSSIBLY ALONG THE LINES
OF INVESTMENT HOLDINGS
THE
DISCLOSURE PROVISIONS CONCERNING
DIRECTORS OF THE SECURITIES AND FUTURES COMMISSION, HE ADDED.
MR MACLEOD SAID THE OUTCOME OF THE REVIEW WOULD BE ANNOUNCED.
OF BY
UNDER ADMINISTRATIVE RULES APPROVED BY THE EXECUTIVE COUNCIL IN 1991 MEMBERS ARE REQUIRED TO REGISTER INVESTMENT HOLDINGS IN RESPECT OF LAND AND PROPERTY OF SUBSTANTIAL VALUE (OR FROM WHICH A SUBSTANTIAL INCOME IS DERIVED).
OF COMPANIES IN WHICH
THE NAMES ALSO,
EITHER MEMBERS, THEMSELVES OR WITH OR ON BEHALF OF THEIR SPOUSES AND INFANT CHILDREN, HOLD IN EXCESS OF ONE PER CENT OF THE ISSUED SHARE CAPITAL, HAVE TO BE REGISTERED.
AND
IN ADDITION TO THIS INFORMATION ON INVESTMENTS, OTHER INTERESTS ALSO HAVE то BE REGISTERED SUCH AS
DIRECTORSHIPS REMUNERATED EMPLOYMENTS, FINANCIAL SPONSORSHIPS AND SO ON.
MEMBERS ALSO HAVE A DUTY TO DECLARE AN INTEREST IN ANY WHICH IS PUT BEFORE THE COUNCIL FOR CONSIDERATION.
SUBJECT
.
"MEMBERS' INTERESTS ARE MONITORED ON A MEETING-BY-MEETING BASIS AND THESE PROCEDURES ARE SCRUPULOUSLY APPLIED, MR MACLEOD SAID.
ARE THE EXECUTIVE COUNCIL CERTAIN LEGAL PROVISIONS WITH REGARD TO THE USE OR PRIVILEGED INFORMATION.
MOREOVER,
MEMBERS OF
SUBJECT то OF DISCLOSURE
ORDINANCE
IN
THE PROVISIONS OF THE SECURITIES (INSIDER DEALING) APPLY IN RELATION TO THE USE OR DISCLOSURE OF RELEVANT INFORMATION TERMS OF THAT ORDINANCE.
MEMBERS AND
AS OF THE EXECUTIVE COUNCIL ARE REGARDED SERVANTS FOR THE PURPOSES OF THE PREVENTION OF BRIBERY ORDINANCE.
PUBLIC
GOVERNOR COMPLETES REGISTER OF DECLARABLE INTERESTS
* * * *
THE GOVERNOR, ON A PURELY VOLUNTARY BASIS, COMPLETED A REGISTER
INTERESTS DECLARABLE
ON
APRIL
22
OF HIS SECRETARY, THE HON SIR DAVID FORD, SAID.
THIS
YEAR,
THE
GOVERNOR
GIVING A WRITTEN REPLY TO A QUESTION BY THE HON EMILY
COUNCIL, LEGISLATIVE
SIR DAVID SAID: "THE DECLARABLE INTERESTS IN HONG KONG.
THE
CHIEF
LAU IN
HAS NO
17