XN000022-1993-05-05 — Page 26

WEDNESDAY, MAY 5, 1993

"WE ARE VERY READY TO RE-EXAMINE THE PRESENT RULES то WHETHER IMPROVEMENTS CAN BE MADE, HE SAID.

SEE

"

THE

AND SPECIFICALLY TO LOOK CAREFULLY AND POSITIVELY AT SUGGESTION OF INTRODUCING A SYSTEM OF REGISTERING AND DECLARING TRANSACTIONS IN LOCAL INVESTMENT MARKETS, POSSIBLY ALONG THE LINES

OF INVESTMENT HOLDINGS

THE

DISCLOSURE PROVISIONS CONCERNING

DIRECTORS OF THE SECURITIES AND FUTURES COMMISSION, HE ADDED.

MR MACLEOD SAID THE OUTCOME OF THE REVIEW WOULD BE ANNOUNCED.

OF BY

UNDER ADMINISTRATIVE RULES APPROVED BY THE EXECUTIVE COUNCIL IN 1991 MEMBERS ARE REQUIRED TO REGISTER INVESTMENT HOLDINGS IN RESPECT OF LAND AND PROPERTY OF SUBSTANTIAL VALUE (OR FROM WHICH A SUBSTANTIAL INCOME IS DERIVED).

OF COMPANIES IN WHICH

THE NAMES ALSO,

EITHER MEMBERS, THEMSELVES OR WITH OR ON BEHALF OF THEIR SPOUSES AND INFANT CHILDREN, HOLD IN EXCESS OF ONE PER CENT OF THE ISSUED SHARE CAPITAL, HAVE TO BE REGISTERED.

AND

IN ADDITION TO THIS INFORMATION ON INVESTMENTS, OTHER INTERESTS ALSO HAVE то BE REGISTERED SUCH AS

DIRECTORSHIPS REMUNERATED EMPLOYMENTS, FINANCIAL SPONSORSHIPS AND SO ON.

MEMBERS ALSO HAVE A DUTY TO DECLARE AN INTEREST IN ANY WHICH IS PUT BEFORE THE COUNCIL FOR CONSIDERATION.

SUBJECT

.

"MEMBERS' INTERESTS ARE MONITORED ON A MEETING-BY-MEETING BASIS AND THESE PROCEDURES ARE SCRUPULOUSLY APPLIED, MR MACLEOD SAID.

ARE THE EXECUTIVE COUNCIL CERTAIN LEGAL PROVISIONS WITH REGARD TO THE USE OR PRIVILEGED INFORMATION.

MOREOVER,

MEMBERS OF

SUBJECT то OF DISCLOSURE

ORDINANCE

IN

THE PROVISIONS OF THE SECURITIES (INSIDER DEALING) APPLY IN RELATION TO THE USE OR DISCLOSURE OF RELEVANT INFORMATION TERMS OF THAT ORDINANCE.

MEMBERS AND

AS OF THE EXECUTIVE COUNCIL ARE REGARDED SERVANTS FOR THE PURPOSES OF THE PREVENTION OF BRIBERY ORDINANCE.

PUBLIC

GOVERNOR COMPLETES REGISTER OF DECLARABLE INTERESTS

* * * *

THE GOVERNOR, ON A PURELY VOLUNTARY BASIS, COMPLETED A REGISTER

INTERESTS DECLARABLE

ON

APRIL

22

OF HIS SECRETARY, THE HON SIR DAVID FORD, SAID.

THIS

YEAR,

THE

GOVERNOR

GIVING A WRITTEN REPLY TO A QUESTION BY THE HON EMILY

COUNCIL, LEGISLATIVE

SIR DAVID SAID: "THE DECLARABLE INTERESTS IN HONG KONG.

THE

CHIEF

LAU IN

HAS NO

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