XN000022-1993-10-06 — Page 35

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WEDNESDAY, OCTOBER 6, 1993

CODES OF CONDUCT FOR BUSINESS TO PREVENT CORRUPTION

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THE INDEPENDENT COMMISSION AGAINST CORRUPTION WILL LAUNCH CAMPAIGN IN COOPERATION WITH THE MAJOR BUSINESS ASSOCIATIONS AND PROFESSIONAL BODIES TO DEFEND HONG KONG'S BUSINESS STANDARDS AGAINST CORRUPTION,

SAID THE GOVERNOR, THE RT HON CHRISTOPHER PATTEN, (WEDNESDAY) IN THE LEGISLATIVE COUNCIL.

TODAY

USE ITS IN HIS POLICY ADDRESS, MR PATTEN SAID THE ICAC WOULD EXPERIENCE IN HELPING BUSINESSES TO DEVELOP

OF VOLUNTARY CODES PRACTICE TO PREVENT BUSINESS MALPRACTICE.

то AND

BUILD ON THIS EXPERIENCE, THE GOVERNMENT HAD FOLLOWING TARGETS :

SET THE

* THE ICAC WILL INVITE LISTED COMPANIES TO URGE THEIR OFFICERS AND STAFF ΤΟ CONDUCT FAIR AND OPEN DEALINGS WITH ALL CUSTOMERS, SUPPLIERS AND CONTRACTORS ACCORDING TO A CORPORATE CODE OF CONDUCT. THE CODE WILL IDENTIFY EFFECTIVE CHANNELS OF COMPLAINT FROM THE PUBLIC. IT IS HOPED THAT OTHER COMPANIES AND BUSINESSES WILL QUICKLY FOLLOW THEIR EXAMPLE.

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THE ICAC WILL THEN INVITE ALL FIRMS EMPLOYING 100 STAFF OR MORE ΤΟ ADOPT SIMILAR CODES OF CONDUCT TO

THE ENHANCE INTEGRITY OF THEIR BUSINESS OPERATIONS.

CHAMBERS OF COMMERCE AND SIMILAR ORGANISATIONS WILL BE ASKED TO URGE THEIR MEMBERS TO FOLLOW PROCEDURES WHICH MINIMISE THE OPPORTUNITIES FOR MALPRACTICE ACCORDING TO A CODE CONDUCT.

OF

THE BODIES WHICH REPRESENT LAWYERS, ACCOUNTANTS, ENGINEERS, SURVEYORS AND ALL THE OTHER PROFESSIONS VITAL TO OUR COMMERCIAL WELL-BEING WILL BE ASKED TO ENSURE THAT THEIR EXISTING CODES OF PERFORMANCE ALSO ENCOURAGE THEIR MEMBERS

то

BE PRO-ACTIVE IN REPORTING CORRUPTION AND IN CLOSING LOOPHOLES WHICH ALLOW MALPRACTICE TO SURVIVE.

LEGISLATION HAS RECENTLY BEEN INTRODUCED TO GIVE AUDITORS OF FINANCIAL INSTITUTIONS PROTECTION IN REPORTING FRAUD AND OTHER IRREGULARITIES. THIS WILL BE EXTENDED TO THE AUDITORS OF ALL LISTED COMPANIES,

THE

NEARLY

OPERATION-WISE, THE GOVERNOR SAID THE ICAC WOULD BE GIVEN RESOURCES NEXT YEAR TO SET UP ANOTHER INVESTIGATION GROUP WITH 40 OFFICERS.

THE EXTRA RESOURCES WILL ALSO ENABLE THE ICAC то RESPOND EFFECTIVELY TO COMPLAINTS DURING THE 1994 AND 1995 ELECTIONS.

IN

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ADDITION, ANOTHER 30 OFFICERS WILL BE REDEPLOYED TO FORM SPECIAL WORKING GROUP TO ESTABLISH TIGHTER LINKS WITH THE PRIVATE SECTOR.

/THE GOVERNOR