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As regards the second amendment proposed by the Hon Zachary Wong regarding the membership of the Toll Stability Fund Management Committee, the Hon Steven Poon has already covered the main arguments against us. I fully concurred with his views and see no need to rehearse the arguments. Suffice us to say that it is the Administration's view that the changes proposed are unnecessary.
The management of the Toll Stability Fund is essentially an executive function best performed by the Administration. To include a Member of this Council on the Committee confuses the respective roles of the legislature and the executive. I must ask why the Hon Zachary Wong is so suspicious of civil servants sitting on the Management Committee. Their role is to safeguard the public interest in managing the Fund. There is no question of their protecting the franchisee's profit levels.
Moreover, as I have already explained, the Toll Stability Fund Management Committee will be fully accountable to LegCo as to how the Fund will be managed. Therefore the amendment cannot be supported by the Administration and I urge Members to vote against this.
May I thank the Hon Elsie Tu for her very succinct summary of the views of the Bills Committee and for highlighting the fact that by far the majority view of the Bills Committee was at the amendments proposed by Mr Zachary Wong are
unnecessary.
Conclusion
Mr President, to conclude. I would like to emphasise that the package offered by the proposed franchisee and enshrined in the Bill is the result of a highly competitive tendering exercise. It is, as I've said, the best deal offered by the market.
The Tai Lam Tunnel and Yuen Long Approach Road project is urgently needed to relieve traffic congestion in Tuen Mun Road, to allow further development in NWNT and to improve road connections to the border. Subject to enactment of the Bill, the Government will award the BOT franchise immediately so that the project can be completed by mid-1998.
With these remarks, Mr President, I commend the Bill together with the amendments to be moved by Mrs Miriam Lau, Mr Steven Poon and myself to the Council. Mr Zachary Wong's amendments cannot and will not be supported by the Administration as they will alter the basic terms of the franchise. I urge their rejection.
Thank you Mr President.
End/Wednesday, May 24, 1995