11
..
asset and contingent liabilities.
These weightings
I
purport to measure the riskiness of the assets and contingent liabilities to which they apply. Measuring risk is far from being an exact science. In addition, the financial marketplace is inventing new instruments with a speed that regulators find hard to follow. will not be surprised, therefore, if events and experiences suggest the need for change in some element of this ratio possibly before it even becomes operational in two years time.
Appeal procedure
27.
Second, Mr Swaine, Mr Sohmen and Mr Li mentioned variations on the idea of a tribunal to hear
appeals under the Bill indeed of Executive Council. The procedure in the Bill, following that in the two existing Ordinances, is for aggrieved parties to appeal to the Governor in Council or, in some cases, to the
Financial Secretary. Members are aware that the Administration has been reviewing the general question of administrative appeals: the outcome should be known relatively soon. I confirm that we will be ready to re-examine the appeal procedures under this piece of legislation when the result of the general review is known. Personally I do not like the proposal of a tribunal, which seems to add unnecessary complications. With experience I have faith in ExCo. But my firm views do not of course bind the Government for the future.
Acceptance of gifts
28.
Third, there was a late suggestion on the question of acceptance of gifts by directors and employees of banks and deposit-taking companies. The suggestion is for a tougher standard to be adopted in view of the nature of business of these institutions aud
the ease with which acceptance of gifts can lead to, o
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