XN000022-1988-07-12 — Page 4

TUESDAY, JULY 12, 1988

3

APPOINTMENT OF GOVT CONSULTANT ON SRC RECOMMENDATIONS

THE GOVERNMENT ANNOUNCED TODAY (TUESDAY) THE APPOINTMENT OF MR ROBERT OWEN, A BRITISH MERCHANT BANKER, AS CONSULTANT то THE FINANCIAL SECRETARY TO ADVISE THE GOVERNMENT ON THE IMPLEMENTATION THE SECURITIES REVIEW COMMITTEE RECOMMENDATIONS, IN PARTICULAR ESTABLISHMENT OF THE SECURITIES AND FUTURES COMMISSION.

THE APPOINTMENT IS FOR A PERIOD OF SIX TO NINE MONTHS.

OF

THE

A GOVERNMENT SPOKESMAN SAID MR OWEN WOULD WORK WITH THE SECRETARY FOR MONETARY AFFAIRS IN IMPLEMENTING THE SECURITIES REVIEW COMMITTEE RECOMMENDATIONS, ESPECIALLY

ON THE FUNDING AND STAFFING

ARRANGEMENTS FOR THE NEW SECURITIES AND FUTURES COMMISSION.

"HIS EXPERTISE IN INTERNATIONAL FINANCIAL SERVICES AND EXPERIENCE IN THE FAR BAST WILL NO DOUBT BE VALUABLE TO THE IMPLEMENTATION EXERCISE," THE SPOKESMAN SAID.

MR OWEN, BORN IN 1940, IS MARRIED WITH THREE CHILDREN. HE WAS EDUCATED IN OXFORD AND OBTAINED A FIRST CLASS HONOURS DEGREE JN MODERN LANGUAGES IN 1961.

FROM 1961 TO 1970, MR OWEN WAS IN THE UK GOVERNMENT SERVICE, FIRST WITH THE FOREIGN OFFICE AND LATER SECONDED TO THE TREASURY.

IN 1970, HE WAS RECRUITED TO MORGAN GRENFELL AND CO. LTD. WHERE HE BECAME A DIRECTOR IN 1973.

HE LEFT THE COMPANY IN 1979 TO JOIN LLOYDS BANK INTERNATIONAL AS DIRECTOR RESPONSIBLE FOR THE MERCHANT BANKING DIVISION. IN 1982, HE MOVED TO HEAD THE FAR EAST DIVISION, WHICH INVOLVED THE MANAGEMENT AND STRATEGIC DIRECTION OF THE BANK'S BUSINESS IN HONG KONG.

AFTER A MERGER OF LLOYDS BANK INTERNATIONAL WITH LLOYDS BANK

BECAME PLC, HE

CHAIRMAN AND CHIEF EXECUTIVE OF THE NEW LLOYDS MERCHANT BANK IN 1985, A POSITION HE RETAINED UNTIL EARLY THIS YEAR.

SEPARATE TELECOMMUNICATIONS NETWORK FOR CABLE TV

車

THE GOVERNMENT HAS DECIDED TO DIVERSIFY THE OWNERSHIP OF LOCAL TELECOMMUNICATIONS NETWORKS BY REQUIRING THE PROVISION OF A SEPARATE NETWORK FOR CABLE TELEVISION IN WHICH HONG KONG TELECOMMUNICATIONS LTD.'S HOLDING WILL BE LIMITED TO A MAXIMUM OF 15 PER CENT.

THIS DECISION WAS TAKEN FOLLOWING CONSIDERATION BY THE EXECUTIVE COUNCIL TODAY (TUESDAY) OF RECOMMENDATIONS ON THE FUTURE OF TELECOMMUNICATIONS DEVELOPMENT IN HONG KONG.

/ANNOUNCING THIS