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15.
Mr Chim Pui-chung (in Chinese): Thank you Mr President. Mr Governor, now it's almost four years since you've come to Hong Kong to become our Governor. As you said, on political views maybe we differ but from other aspects of your work, personally I am very appreciative of the work you've done and effort you've put in it.
Mr Governor, I have a question about the Securities and Futures Commission.
The President: Mr Chim Pui-chung, this is not one of the six topics.
Mr Chim Pui-chung (in Chinese); Mr President, Mr Governor has agreed to answer the question because just now I have been heaping praises on him, that's why he has to return the favour.
Now on the check and balances of Government's work the Hong Kong people are very appreciative of that but in the past when it comes to the work of the SFC it seems that it gives the impression to the public and investors there is not enough check and balance on the SFC. The Secretary for Financial Services and the Financial Secretary of course are empowered to monitor these bodies but these bodies just ignore their presence. So Mr Governor, I hope that something concrete will be done.
Now recently there is a company of which I am Chairman, the company has been suspended for trading for ten years. We have gone through the normal procedure to apply for trading again but then there were some Australian officials on the SFC....
Mr James To: Mr President, now is it because the Governor agrees to answer the question and then we could disregard all the rules and orders of this Council because we've already set the topics for today's sitting?
The President: I do think that I shouldn't allow that question but since the Governor is pleased to answer it, could we... I think the intervention is appropriate in another sense in that, are you personally pecuniary involved, interested in the Company that you were talking about?
Mr Chim Pui-chung (in Chinese); No, not at all Mr President. Now I will be giving the Governor a letter just now and he could peruse it at his own time but I just want him to know whether there should be check and balances on the SFC. Now if there are any, what are they?
Mr Ronald Arculli: Mr President, I would like you to rule on the fact as to whether or not a member of this Council can properly put the Governor in that embarrassing position of putting a specific case to the Governor during Governor's Question Time. Thank you very much.
The President: I rule that the question itself is inappropriate.