XN000022-1989-06-23 — Page 12

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FRIDAY, JUNE 23, 1989

EXPLAINING THE PURPOSE OF

THE BILL, A GOVERNMENT SPOKESMAN SAID THE PROPOSED INCREASE IN THE NUMBER OF MEMBERS TO HKIEC'S BOARI WOULD ENABLE THE APPOINTMENT OF ANOTHER NON-OFFICIAL MEMBER, THUS ALLOWING THE BOARD TO BENEFIT FROM A BROADER RANGE OF PROFESSIONAL, COMMERCIAL EXPERTISE.

"THIS WILL ALSO ENABLE THE DIRECTOR OF INDUSTRY, WHO HAS SERVED AS THE CHIEF EXECUTIVE OF THE BOARD SINCE 1985, ΤΟ BE APPOINTED AS A MEMBER OF THE BOARD,' HE SAID.

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THE SPOKESMAN ADDED THAT FOLLOWING A RECENT REVIEW OF THE APPOINTMENT OF THE CHIEF EXECUTIVE, THE BOARD HAD RECOMMENDED AND THE GOVERNOR APPROVED THAT, WITH EFFECT FROM JULY 1. 1989, THE GENERAL MANAGER OF THE HKIEC WOULD REPLACE THE DIRECTOR OF INDUSTRY AS THE CHIEF EXECUTIVE.

"HOWEVER, AS THE INDUSTRY DEPARTMENT AND THE CORPORATION HAVE TO WORK CLOSELY TOGETHER IN MANY AREAS, IT IS DESIRABLE THAT THE DIRECTOR CONTINUE TO BE ABLE TO CONTRIBUTE DIRECTLY TO THE WORK ог THE BOARD, HE SAID.

T

UNDER THE HKIEC ORDINANCE, THE HKIEC BOARD CONSISTS OF THE CHAIRMAN, THE CHIEF EXECUTIVE AND SEVEN MEMBERS APPOINTED BY THE GOVERNOR, OF WHOM NOT MORE THAN FOUR SHOULD BE PUBLIC OFFICERS.

THE BILL IS DUE TO BE INTRODUCED INTO THE LEGISLATIVE ON JULY 5.

COUNCIL

IMPROVEMENTS SOUGHT FOR TRUST FUND INVESTMENT OPERATIONS

A BILL AIMED AT REMOVING INVESTMENT OPERATIONS OF

RESTRICTIONS

THE

THE

IMPROVING AND VARIOUS TRUST FUNDS ADMINISTERED BY

WAS PUBLISHED IN SECRETARY FOR DISTRICT ADMINISTRATION INCORPORATED THE GAZETTE TODAY (FRIDAY).

AMENDMENTS) BILL

TRUST

FUNDS MINOR LI PO TRUST

THE AMENDING LEGISLATION, ENTITLED THE CHARITABLE (MISCELLANEOUS

1989, SEEKS TO INTRODUCE THE AMENDMENTS TO THE SIR ROBERT BLACK TRUST FUND ORDINANCE,

MACLEHOSE CHUN CHARITABLE TRUST FUND ORDINANCE, THE SIR MURRAY FUND ORDINANCE AND THE SIR EDWARD YOUDE MEMORIAL FUND ORDINANCE.

AND A SPOKESMAN FOR THE CITY

NEW SAID THE AMENDMENTS WERE PROPOSED ON THE OR BOARD SET UP TO ADMINISTER THE FUNDS.

TERRITORIES

OF ADVICE

ADMINISTRATION THE COMMITTEES

ROBERT

INVESTMENTS

ORDINANCE,

HE EXPLAINED THAT UNDER EXISTING LAWS GOVERNING THE SIR

CHARITABLE TRUST BLACK AND LI PO CHUN

MAKE FUNDS, TO WHICH WERE NOT TRUST INVESTMENTS AUTHORISED BY THE TRUSTEE THE FINANCIAL SECRETARY'S PRIOR APPROVAL MUST BE OBTAINED.

/"THIS REQUIREMENT

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