XN000022-1973-08-02 — Page 7

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Thursday, August 2, 1973

COMPANIES LAW REVISNOW COMBATTZE ADVICE TO DIRECTORS

Directors of all companies, especially those of public companies,

should acquaint themselves with the principal requirements of the Companies

Ordinance and the standards of ethical conduct followed by the best

companies.

The Companies Law Revision Committee emphasises the importance

of this in its second report published yesterday.

In Britain, advice to directors on how they should deal with

the normal problems that arise in running a company is given by the

Institute of Directors in their book 'Standard Boardroom Practice'.

The committee regards the advice contained in the book as vitally

important. It has, therefore, nut unly arranged for copies to be sent

to Hong Kong but also for a Chinese version to be prepared by its Secretary,

Mr. Charles Y.K. Lee.

In its opinion every director who wishes to conform to the best

directorial practice should obtain a copy of the book or Chinese version.

For directors who wish to acquire some basic legal knowledge

of their functions, the committee recommends another book 'The Company

Director', also prepared under the authority of the Institute of Directors.

No Chinese