XN000022-1990-06-11 — Page 2

MONDAY, JUNE 11, 1990

- 1

APPOINTMENT OF INDEPENDENT DIRECTOR TO HK FUTURES EXCHANGE

THE FINANCIAL SECRETARY,

(MONDAY) THAT THE GOVERNOR

**

SIR PIERS HAS APPOINTED

JACOBS, ANNOUNCED TODAY MR TAKASHI MORI AS AN KONG FUTURES EXCHANGE EXCHANCE

INDEPENDENT DIRECTOR TO THE BOARD OF THE HONG (HKFE) WITH EFFECT FROM JUNE 21, 1990, THE DATE ON WHICH THE HOLDS ITS FIFTH ANNUAL GENERAL MEETING (AGM).

RECONSTITUTION

OF

OF THE HKFE IN MAY 1989 THE SUCCESSFUL PROVIDES THAT ITS BOARD SHOULD BE BROADLY-BASED AND REPRESENTATIVE

IN LINE WITH THE THE MARKETS, THEIR USERS AND THE PUBLIC INTEREST, RECOMMENDATIONS OF THE SECURITIES REVIEW COMMITTEE.

"THE

APPOINTMENT

OF

MR

MORI

WILL

ENHANCE

THE

AND

REPRESENTATIVENESS OF THE BOARD OF THE EXCHANGE, AND HELP PROMOTE

THE BETWEEN

JAPANESE FINANCIAL COMMUNITY DEVELOP THE RELATIONSHIP AND THE EXCHANGE,

MR

HE SAID.

MORI IS

THE

MANAGING DIRECTOR

OF

SANWA

INTERNATIONAL

IN

FINANCE LTD. BEFORE COMING TO HONG KONG IN 1987, HE WAS WITH SANWA TOKYO AND LONDON.

THE

OF THE INDEPENDENT

ASSOCIATION FIRST FOUR

THE FIRST THREE

ARTICLES OF TO APPOINT THE

VACANCIES AS

UNDER ARTICLE 73(B) 'OF EXCHANGE, THE GOVERNOR HAS DIRECTORS то THE BOARD INDEPENDENT DIRECTORS WERE APPOINTED IN JUNE 1989.

ARISE.

MEMBERSHIP REFORM

THE COMING AGM REPRESENTS THE LAST PHASE OF OF THE BOARD IN ACCORDANCE WITH THE NEW CONSTITUTION.

HAVE

THE EXCHANGE ΤΟ

WHO MEMBERS, "CREDIT SHOULD BE GIVEN

WITH WHICH THE EXCHANGE DEMONSTRATED THEIR SUPPORT FOR THE REFORMS,

HONG KONG, SIR IS BETTER EQUIPPED TO DEVELOP THE FUTURES MARKET IN PIERS SAID.

**

INTEREST IN AIRPORT LEGAL WORK INVITED

ARE INVITING

EXPRESSIONS OF SERVICES FOR THE

THE ATTORNEY GENERAL'S CHAMBERS INTEREST FROM FIRMS OF SOLICITORS TO PROVIDE LEGAL GOVERNMENT IN RELATION TO THE PORT AND AIRPORT DEVELOPMENT PROJECT,

EXPECTED TO

THE AIRPORT PROJECT IS

GENERATE A CONSIDERABLE BEING HANDLED BY AT PRESENT ALL SUCH WORK IS VOLUME OF LEGAL WORK. THE ATTORNEY GENERAL'S CHAMBERS.

CHAMBERS ARE PROJECT ENGAGING

HOWEVER, RESOURCES WITHIN THE ATTORNEY GENERAL'S NOT SUFFICIENT TO COPE WITH THE INCREASED WORKLOAD AS THE PROGRESSES. THE GOVERNMENT IS THEREFORE CONSIDERING SOLICITORS IN PRIVATE PRACTICE TO HANDLE SOME OF THAT WORK.

/ANY DECISION