XN000022-1992-04-28 — Page 13

TUESDAY, APRIL 28, 1992

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APPOINTMENT OF NON-EXECUTIVE DIRECTORS OF SECURITIES AND FUTURES COMMISSION

THE GOVERNOR HAS APPOINTED MR RODERICK CHALMERS, TO SUCCEED DENYS CONNOLLY, AS NON-EXECUTIVE DIRECTOR OF THE SECURITIES FUTURES COMMISSION (SFC), AND IN ADDITION TO THAT AS MEMBER OF SECURITIES AND FUTURES APPEALS PANEL FOR A PERIOD OF ONE YEAR.

MR

AND THE

THE GOVERNOR HAS ALSO RE-APPOINTED MESSES DENIS CHANG KHEN-LEE, DAVID GLEDHILL AND LEE HON-CHIU TO THE COMMISSION AS NON-EXECUTIVE DIRECTORS AND THE PANEL AS MEMBERS, IN EACH CASE FOR A FURTHER TWELVE MONTHS.

UNDER SECTION 5 OF THE SFC ORDINANCE, THE GOVERNOR SHALL APPOINT NOT LESS THAN EIGHT DIRECTORS TO THE SFC, HALF OF WHOM BE NON-EXECUTIVE DIRECTORS. AT PRESENT THE COMMISSION IS SERVED BY

DIRECTORS.

SHOULD 10

THE NON-EXECUTIVE DIRECTORS BRING AN INDEPENDENT VIEW TO THE MANAGEMENT AND ORGANISATION OF THE SFC. THEY ARE FULLY INVOLVED IN ITS POLICY DEVELOPMENT.

THE FINANCIAL SECRETARY, MR HAMISH MACLEOD, PAY TRIBUTE то MR CONNOLLY FOR HIS HARD WORK AND DEDICATION AS A NON-EXECUTIVE DIRECTOR OF THE COMMISSION SINCE ITS ESTABLISHMENT AND ALSO AS A MEMBER OF THE FORMER SECURITIES COMMISSION.

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'THE SUCCESS OF THE COMMISSION OWES MUCH ΤΟ MR CONNOLLY'S CONTRIBUTION AND WISE GUIDANCE," MR MACLEOD SAID.

"I AM DELIGHTED THAT HE WILL REMAIN ASSOCIATED WITH THE SFC AS A DEPUTY CHAIRMAN OF THE TAKEOVERS PANEL, MR MACLEOD ADDED.

MORE HOSTELS FOR BEDSPACE TENANTS

TENANTS IN BEDSPACE APARTMENTS MAY NOW IMPROVE THEIR LIVING CONDITIONS BY MOVING TO BETTER-EQUIPPED AND WELL-MANAGED SINGLETON HOSTELS SET UP THROUGH EFFORTS OF THE CITY AND NEW TERRITORIES ADMINISTRATION.

APPLICATIONS ARE BEING INVITED FOR RESIDENCY IN FIVE HOSTELS SET UP TO HOUSE TENANTS IN OVERCROWDED BEDSPACE APARTMENTS.

THREE OF THESE HOSTELS, INCLUDING ONE FOR WOMEN, ARE AT KWUN TONG GARDEN ESTATE ON NGAU TAU KOK ROAD. THE OTHER TWO ARE ON KWUN CHUNG STREET, YAU MA TEI, AND THE TAK NGA HOUSE ON LOCKHART ROAD, CHAI.

WAN

/MANAGED BY