XN000022-1991-02-06 — Page 8

WEDNESDAY, FEBRUARY 6, 1991

HE SAID, ESSENTIALLY, THE PRINCIPLES UNDERLINING THE RELATIONSHIP OF DIRECTORS TOWARDS THEIR COMPANIES COULD ONLY BE EXTRACTED FROM CASE LAW.

CLEAR TO ALL

"THE ADMINISTRATION BELIEVES THAT REFERENCE TO THE GENERAL FIDUCIARY DUTIES OF COMPANY DIRECTORS SHOULD BE MADE DIRECTORS, PARTICULARLY THOSE WHO ARE NEW TO THEIR POSITIONS AND PERHAPS NOT FAMILIAR WITH THE BASIC PRINCIPLES.

L

"WE PROPOSE

THE THEREFORE TO INCLUDE A STATEMENT OF FIDUCIARY DUTIES OF DIRECTORS IN THE COMPANIES ORDINANCE, SAID.

GENERAL PIERS

HE SAID THIS WAS CONSISTENT WITH A RECOMMENDATION OF THE STANDING COMMITTEE ON COMPANY LAW REFORM.

"WE

AND

ACCEPT, HOWEVER, THAT THE LAW ON THIS SUBJECT 19 DETAILED COMPLICATED, AND THAT ANY SUCH STATEMENT CANNOT BE EXHAUSTIVE IDENTIFYING COLLECTIVELY ALL THE DUTIES.

IN

"THEREFORE, IT IS MADE CLEAR IN THE BILL THAT THE PROPOSED STATEMENT SHALL HAVE EFFECT WITHOUT PREJUDICE TO ANY RULE OF LAW WITH RESPECT TO A FIDUCIARY DUTY OF A DIRECTOR OR TO ANY OTHER DUTIES UNDER THE COMPANIES ORDINANCE, SIR PIERS SAID.

++

DEBATE ON THE BILL WAS ADJOURNED.

RESOLUTION TO ADD CHARGES FOR NEW TELEPHONE SERVICES PASSED

THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) PASSED A RESOLUTION THAT IT APPROVED TO AMEND THE SCHEDULE TO THE TELEPHONE ORDINANCE BY ADDING ΤΟ IT CHARGES THAT THE HONG KONG TELEPHONE COMPANY LIMITED PROPOSES TO LEVY ON THREE NEW SERVICES.

THE SERVICES WERE AUDIOLINE; INTEGRATED DIGITAL ACCESS; AND THIRD COUNTRY CALLING.

MOVING A MOTION TO AMEND THE SCHEDULE, THE SECRETARY FOR ECONOMIC SERVICES, THE HON ANSON CHAN, SAID AUDIOLINE WAS A FORM OF LEASED CIRCUIT FOR THE HIGH-QUALITY TRANSMISSION OF AUDIO SIGNALS, FOR EXAMPLE FOR RELAYING MUSICAL EVENTS.

THE RENTAL CHARGES FOR AUDIOLINE PROPOSED BY THE COMPANY WERB $700 PER MONTH FOR A ONE-WAY (OR MONO) AUDIOLINE CIRCUIT TO A TELEPHONE EXCHANGE AND $980 PER MONTH FOR A BOTH-WAY (OR STEREO) AUDIOLINE.

THE CONNECTION CHARGES PROPOSED FOR AUDIOLINE WERE $2,700 LINE FOR ONE-WAY LINES AND $3,600 PER LINE FOR BOTH-WAY LINES.

PER

MEANWHILE, INTEGRATED DIGITAL ACCESS WOULD PROVIDE A HIGH QUALITY DIGITAL CONNECTION FOR MODERN CUSTOMER PREMISES EQUIPMENT, SUCH AS DIGITAL PRIVATE BRANCH EXCHANGES, THE SECRETARY SAID.

/"THE MAIN