XN000022-1984-06-01 — Page 6

FRIDAY, JUNE 1, 1984

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STANDING COMMITTEE ON COMPANY LAW REFORM MEETS

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THE NEWLY-FORMED STANDING COMMITTEE ON COMPANY LAW REFORM MET FOR THE FIRST TIME YESTERDAY (THURSDAY) EVENING, UNDER THE CHAIRMANSHIP OF THE HON MR JUSTICE CONS, JUSTICE OF APPEAL.

THE STANDING COMMITTEE WILL ADVISE THE FINANCIAL SECRETARY, FIRSTLY, ON AMENDMENTS TO THE COMPANIES ORDINANCE AS AND WHEN EXPERIENCE SHOWS THEM TO BE NECESSARY, AND, SECONDLY, ON AMENDMENTS REQUIRED TO THE SECURITIES ORDINANCE AND THE PROTECTION OF INVESTORS ORDINANCE WITH THE OBJECTIVE OF PROVIDING SUPPORT TO THE SECURITIES COMMISSION IN ITS ROLE OF ADMINISTERING THOSE ORDINANCES, SAID A SPOKESMAN.

A WIDE-RANGE OF TOPICS DEALING WITH COMPANY LAW HAVE ALREADY BEEN REFERRED TO THE STANDING COMMITTEE BY UMELCO AS A RESULT OF REPRESENTATIONS MADE BY MEMBERS OF THE PUBLIC WHEN THE BILLS FOR THE COMPANIES (AMENDMENT) ORDINANCE 1984 WERE UNDER CONSIDERATION.

DURING THE FIRST MEETING, THE STANDING COMMITTEE CONSIDERED THE QUESTION OF PRIORITIES IN DEALING WITH THESE TOPICS AND INSTRUCTED THE SECRETARY TO PREPARE PAPERS ON THE PROBLEMS ARISING FROM REGISTRATION OF CHARGES AND THE QUESTION OF THE DATE OF COMPANY ACCOUNTS WHEN THEY ARE SUBMITTED TO AN AGM-1.E. HOW OLD COMPANY ACCOUNTS CAN BE WHEN SUBMITTED TO AN AGM. THESE PAPERS WILL BE CONSIDERED AT THE NEXT STANDING COMMITTEE MEETING ON JULY 7.

THE STANDING COMMITTEE CONSISTS OF 11 MEMBERS REPRESENTING THE PROFESSIONS, COMMERCE AND INDUSTRY:-

DR ANDREW CHUANG SIU-LEUNG, DIRECTOR AND GENERAL MANAGER, CHUANG'S (HOLDINGS) LTD.

MR D.E. CONNOLLY, JP

MESSRS. PEAT, MARWICK, MITCHELL AND CO.

MR KENNETH FANG HUNG,

DIRECTOR

FANG BROTHERS KNITTING LTD.

MR ANDREW LI KWOK-N AN G

MR P.J. PEARSON,

MANAGING DIRECTOR.

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FIDELITY INTERNATIONAL INVESTMENT MANAGEMENT (HONG KONG) LIMITED

MR C.L. WARREN-SMITH,

CHAIRMAN

THE ASSOCIATION OF THE INSTITUTE OF CHARTERED SECRETARIES

AND ADMINISTRATORS IN HONG KONG

/MR MICHAEL