XN000022-1982-10-07 — Page 5

TWO NEW DIRECTORATE POSTS CREATED

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THE CIVIL SERVICE BRANCH PAY AND STRUCTURE DIVISION TOGETHER WITH STAFF FROM THE OFFICE OF THE COMMISSIONER FOR SECURITIES AND COMMODITIES TRADING HAVE CONDUCTED AN OVERALL REVIEW INTO THE ORGANISATION AND WORK OF THE OFFICE.

AS A RESULT OF THE REVIEW, STAFFING NEEDS HAVE BEEN IDENTIFIED AND A SUITABLE ESTABLISHMENT HAS BEEN CONSIDERED BY BOTH THE FINANCE AND THE DEPARTMENTAL ESTABLISHMENT COMMITTEES, A SPOKESMAN FOR THE OFFICE OF THE COMMISSIONER SAID TODAY.

TWO NEW DIRECTORATE POSTS HAVE BEEN CREATED. THEY ARE :

ONE POST OF DEPUTY COMMISSIONER, AND

ONE POST OF ASSISTANT COMMISSIONER (IN ADDITION TO THE EXISTING ASSISTANT COMMISSIONER POST).

MR DEREK MURPHY HAS BEEN PROMOTED TO ASSISTANT COMMISSIONER AND WITH IMMEDIATE EFFECT WILL ACT AS DEPUTY COMMISSIONER. MRS ESTELLA TANG HAS BEEN PROMOTED TO THE SUBSTANTIVE RANK OF ASSISTANT COMMISSIONER.

THE DISTRIBUTION OF WORK WITHIN THE OFFICE FROM NOW ON WILL BE AS FOLLOWS:-

(A) DEPUTY COMMISSIONER (ACTING) DEREK MURPHY

(B)

(c)

APART FROM DEPUTISING FOR THE COMMISSIONER AS HEAD OF THE DEPARTMENT, HE WILL BE DIRECTLY RESPONSIBLE FOR CORPORATE FINANCE POLICY AND DOCUMENTATION, AND THE PROVISION OF LEGAL SERVICES TO THE OFFICE IN CONJUNCTION WITH THE ATTORNEY-GENERAL'S CHAMBERS.

ASSISTANT COMMISSIONER (COMMODITIES)

ALLEN MILLS

HE WILL BE RESPONSIBLE FOR THE POLICY AND ENFORCEMENT OF THE COMMODITIES TRADING ORDINANCE AND ALL MATTERS RELATING THERETO, TOGETHER WITH ADMINISTRATION OF THE CODE ON UNIT TRUSTS AND MUTUAL FUNDS,

ASSISTANT COMMISSIONER (SECURITIES)

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ESTELLA TANG

SHE WILL BE RESPONSIBLE FOR THE POLICY AND ENFORCEMENT OF THE SECURITIES ORDINANCE AND

ALL MATTERS RELATING THERETO, THE STOCK EXCHANGES UNIFICATION ORDINANCE, THE PROTECTION OF

INVESTORS ORDINANCE, AND OFFICE ADMINISTRATION.

ONCE THE PRESENT PROMOTION AND RECRUITMENT EXERCISES WHICH ARE UNDERWAY HAVE BEEN COMPLETED, IT IS EXPECTED THAT THE REORGANISED STRUCTURE (INVOLVING AN ADDITIONAL FOUR NEW

SENIOR SECURITIES OFFICER AND NINE NEW SECURITIES OFFICER POSTS) WILL BE FULLY IMPLEMENTED BY EARLY 1983.