TNAG-1764-FCO40-2518-Hong-Kong-stock-market-and-exchange-rate-1988 — Page 15

E'd

28.

29.

30.

31.

32.

the clearing house should be established by statute or authorised under statute as a non-profit-making corporation. (para. 5.141)

the ownership of the clearing house should be split 50/50 between the SEHK and a group of banks acting collectively. (para. 5.147)

the board should be broadly representative of the participants and interested parties, and should also have a public interest element. (para. 5.148)

the central agency should be run by its own staff. (para. 5.150)

the regulatory authority should review the development of the SEHK's surveillance arrangements within 12 months of its establishment. (para. 5.160)

8

MH SI9 P2:61 98. TE AHW

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