XN000022-1989-05-16 — Page 6

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TUEDAY, MAY 16, 1989

+ THE SCHEME OF CONTROL HAS MORE THAN ONE FACET. THERE IS THE PROFESSIONAL ASPECT OF BRINGING FOREIGN LAW FIRMS AND FOREIGN LAWYERS UNDER A CLEARLY DEFINED SCHEME OF CONTROL AND THAT IS BENEFICIAL FROM THE PROFESSIONAL POINT OF VIEW.

"ULTIMATELY, IT IS TO THE BENEFIT OF THE COMMUNITY TO HAVE ALL LAWYERS OPERATING IN THE SAME SCHEME AND BEING SUBJECT TO THE SAME RULES. THAT IS ONE ASPECT,

"THE BENEFIT TO THE CLIENTS I'VE ALREADY DESCRIBED,

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HE SAID.

'CONSTRUCTIVE

IN HIS SPEECH, MR MATHEWS MENTIONED ABOUT CRITICISM" RECEIVED CONCERNING THE CONSULTATIVE DOCUMENT. ASKED WHAT SORT OF "CRITICISM" THESE HAD BEEN, MR MATHEWS REPLIED: "THERE'S BEEN SOME CONCERN ABOUT THE LEVELS OF EXPERIENCE. SOME SAY THAT THEY ARE PITCHED TOO HIGH. WE'LL HAVE TO LOOK AT THAT."

EXPERIENCE BE

HE WAS REFERRING TO THE PROPOSAL THAT LEVELS OF STIPULATED FOR SOLICITORS EMPLOYED OR TAKEN INTO PARTNERSHIP BY FOREIGN LAW FIRMS.

UNDER THE GOVERNMENT'S PROPOSAL, A FOREIGN LAW FIRM SHOULD NOT TAKE INTO PARTNERSHIP A HONG KONG SOLICITOR WITH LESS THAN 10 YEARS' EXPERIENCE. NOR SHOULD IT EMPLOY A HONG KONG SOLICITOR то ADVISE ON HONG KONG LAW UNLESS HE HAS FIVE YEARS' EXPERIENCE.

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HT P ALAK MAT HOW AMO! I APPOINTMENT OF FUTURES EXCHANGE NOMINATING COMMITTEE

THE ACTING FINANCIAL SECRETARY. MB DAVID.NENDICA ANNOUNCED TODAY (TUESDAY); THAT" THE GOVERNOR HAD APPOINTED 'MR' RONALD CARSTAIRS, MR RAYMOND KWOK, MR NICHOLAS PRIOR AND MR' PETER POON AS MEMBERS OF THE NOMINATING COMMITTEE (NC) FOR THE HONG KONG FUTURES EXCHANGE LTD (HKFE).

THT PO CHAAMUM MAY 15,

PE II VHB%

TARNIMRO

237UMETNET APPOINTMENTS Took “FFECT!! FROM "MAYER CONCLUBIONAHP THU"THIRD ANNUAL GENERAL

NÉRAL MEET

MEETING

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A 2 BAJAN 1989 ANTALY

WAUW HMATZ Z71

UNDER THE REVISED ARTICLES OF ASSOCIATION OF THE HKFE ADOPTED APHONE EKTRAØRUTNAHY GENERAL MEETING HELD ON MAY 9 1989. THE BOARD WELL CONSIST OF 13 DIRECTORS, NAMELY EIGHT MEMBER DIRECTORS, FOUR I MUEPENDENT DIRECTORS AND THE CHIEF EXECUTIVE WHO SHALL HOLD OFFICE

EX-OFFICto.

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:

"THE REVISED "ARTICLES OF ASSOCIATION will become EFFECTIVE, LATER THIS MONTH CONCURRENT WITH THEIR FORMAL APPROVAL BY THE SECURITIES AND- FUTURES COMMISSION:

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