(d) it should submit an interim report which can
be published in three months' time.
Appointment Conditions
9
In the event that legal proceedings are threatened or instituted in respect of anything published in any report by the Committee, the Government will fully indemnify the Chairman and members of the Committee against any damages and legal costs awarded against them and against any other expenses which they may incur in connection proceedings, or the threat of such proceedings.
Financial and Staffing Implications
10
with such
It is estimated that the staff comprising one Administrative Officer Staff Grade C and three senior professionals will cost about $3 million per year. The exact level of staffing will be subject to review.
Public Reaction
11
The setting up of a Committee of Review to identify weaknesses in the stock and futures markets and to recommend remedies will be welcomed by the public and the media as a positive step by Government to protect the investors and to restore public confidence in the local markets.
Publicity
12
A statement will be made by the Financial
Secrtary either in LegCo or to the press to
press to announce the setting up of the Committee of Review once a chairman has been identified.
3 November 1987
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Private notes are available after approval.