Annex D
Extract from the Report of the Securities Review Committee
Advisory Committee
9.49.
It
is
in
Our
view essential that the SC should
market practitioners
have ready access to outside expert advice and securities particular. Although we expect it and significant believe that some formal machinery
to
consult
in
widely on
new
we
policy proposals,
developments
should be put in place for this purpose.
9.50.
We therefore recommend that an Advisory Committee to advise the SC on matters of policy
should be appointed
and по
have should It
statutory powers.
no
and market development. responsibilities
executive
It should meet
not less than once a month and should receive secretarial
support from the SC.
9.51.
It
will be
important
to
keep
the structure as
simple as possible to avoid rival power bases and to ensure that the Advisory Committee sees its role as advisory.
It
is not
to there
police
the SC
that
an
job is for the
extent, the SC's non-executive
to and, Administration
directors. We accordingly recommend that the Chairman and
Deputy
new SC should sit on the Advisory members and the new SC Chairman
as
Chairman Of the
officio ex
Committee
should also chair the Advisory Committee.
9.52.
As
to composition
we
expert rather than
predominantly
it believe
should be
amateur and generalist,
with outside members drawn from the various segments of the
securities
industry,
a plus
lawyer,
an
of a
listed company and
But it should
not be too
a representative
outside. recommend that the Advisory Committee
Hong Kong
accountant,
perhaps someone
from
big.
We therefore
should
be
eight to 12 strong, with
members
drawn
from
the
securities
professions.
six to ten outside
industry
and
the
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