XN000022-1996-04-03 — Page 72

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"small house" means land held under a lease granted under the Small House Policy; and

"similar rural holding" includes land granted to an indigenous villager in place of other land previously held by him.

Stock Exchange and SFC corporate plans proposed

Following is a question by the Hon Andrew Cheng Kar-foo, and a written reply by the Secretary for Financial Services, Mr Rafael Hui, in the Legislative Council today (Wednesday):

Question:

It is reported that the Financial Services Branch, the Stock Exchange of Hong Kong Limited ("SEHK") and the Securities and Futures Commission ("SFC") have held meetings to discuss the corporate plans proposed by the SEHK and the SFC respectively and to strengthen the communication between the parties concerned. In this connection, will the Government inform this Council:

(a)

(b)

(c)

Answer:

(a)

whether any agreement has been reached arising form the meetings mentioned above: if so, what are the details of such agreement:

of the division of responsibilities and the respective roles of the SFC and the SEHK in regard to each of the 17 working plans proposed in the SFC's Corporate Plan; and

of the number of staff in the Financial Services Branch deployed to deal with securities matters; and how it will strengthen the co-ordination between the SEHK and the SFC"?

Following the publication of the SFC Corporate Plan in February 1996, the Financial Services Branch has held meetings with the SFC and the SEHK, and the two organisations have reached broad understanding of their respective roles in the work programme outlined in the SFC Corporate Plan. Both the SFC and SEHK have reaffirmed their commitment to working jointly for the benefit of the securities and futures market.