XN000022-1993-02-17 — Page 27

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WEDNESDAY, FEBRUARY 17, 1993

RAILWAY CORPORATIONS CLOSELY MONITORED

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THE OPERATIONS OF THE TWO RAILWAY CORPORATIONS ARE CAREFULLY MONITORED ΤΟ ENSURE THAT THEY ARE SENSITIVE TO THE NEEDS OF THE TRAVELLING PUBLIC.

THIS WAS STATED BY THE SECRETARY FOR TRANSPORT, MR MICHAEL LEUNG, IN A MOTION DEBATE ON THE MECHANISMS FOR MONITORING THE MASS TRANSIT RAILWAY CORPORATION (MTRC) AND KOWLOON-CANTON RAILWAY CORPORATION (KCRC) IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MR LEUNG STRESSED THAT THE BASIC REQUIREMENTS TO MONITOR THE OPERATIONS OF BOTH CORPORATIONS WERK LAID DOWN IN THEIR RESPECTIVE ORDINANCES.

UNDER THE LAW, THE TWO CORPORATIONS ARE REQUIRED ΤΟ OPERATE SERVICES HAVING REGARD TO THE REASONABLE REQUIREMENTS OF THE PUBLIC TRANSPORT SYSTEM OF HONG KONG.

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"THIS REQUIRES THEM TO PROVIDE AN EFFICIENT, SAFE AND RELIABLE RAILWAY SERVICE TO MEET THE NEEDS OF THE COMMUNITY, MR LEUNG SAID.

THE MEMBERS OF THE TWO GOVERNING BOARDS ARE APPOINTED BY THE

GOVERNOR.

THE GOVERNOR IN COUNCIL IS EMPOWERED TO GIVE DIRECTIONS TO THE TWO CORPORATIONS IF PUBLIC INTEREST SO REQUIRES.

IN ADDITION TO THE STATUTORY SAFEGUARDS, THE GOVERNMENT HAS INTRODUCED ADMINISTRATIVE ARRANGEMENTS OVER THE YEARS TO PROTECT THE PUBLIC INTEREST. THIS IS AN ONGOING PROCESS OF REGULAR REVIEWS AND

IMPROVEMENTS.

FOR EXAMPLE, THE CORPORATIONS ARE REQUIRED TO PRODUCE CORPORATE STRATEGIES AND BUSINESS PLANS FOR AGREEMENT WITH THE ADMINISTRATION.

IN ADDITION, THE ADMINISTRATION RECEIVES AND MONTHLY OPERATING REPORTS TO EXAMINE ANY DEVIATIONS PLANS AND BUDGETS AND TO TAKE REMEDIAL ACTION.

STUDIES THEIR FROM APPROVED

ON

TO REVIEW PERFORMANCE AND PROVIDE ANY NECESSARY DIRECTIONS POLICY ISSUES, THE SECRETARY FOR TRANSPORT MEETS THE CORPORATIONS' CHAIRMEN REGULARLY.

THE OPERATIONS OF THE TWO CORPORATIONS ARE ALSO SUBJECT TO THE REGULAR SCRUTINY OF LEGCO, TRANSPORT ADVISORY COMMITTEE AND THE DISTRICT BOARDS THROUGH QUESTIONS AND DISCUSSIONS ON ISSUES OF PUBLIC CONCERN.

ON FINANCIAL MONITORING, MR LEUNG SAID THE TWO CORPORATIONS WERE REQUIRED ΤΟ PRODUCE AUDITED ACCOUNTS AND ANNUAL REPORTS FOR TABLING AT LEGCo.

THEY CANNOT UNDERTAKE ANY INVESTMENTS OF THEIR OWN MONEYS WITHOUT THE APPROVAL OF THE FINANCIAL SPORETARY.

/MOREOVER, THE