TNAG-2255-FCO40-3239-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-gene-1991 — Page 98

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CONFIDENTIAL ##

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Characteristics of the Airport Authority

5.

MTRC.

It is intended that the future Airport Authority

will in fact share many of the characteristics of the

It will be a body corporate, established under

legislation and wholly owned by the Government. Like the

the future Airport Authority Ordinance will

the framework within which the Authority will

including the policy and financial objectives laid

MTRC Ordinance

establish

operate,

down by the Government.

the

set

the

The legislation will also specify

composition and functions of the Authority, and will

out in detail its powers and responsibilities.

As with

MTRC and indeed other statutory bodies which operate in

a commercial manner, wẹ will expect the Authority to raise

part of its funding requirements through borrowings in the

local and international

markets.

The Authority will,

however, be accountable for its actions and will be

expected to submit to the Government its audited annual

As with the MTRC, the Government

accounts for scrutiny.

will also retain the power to direct the Authority should

the need arise.

Membership of the Airport Authority

6.

yet been

membership of the Airport Authority has not

The

decided

but

we envisage that it will comprise a

CONFIDENTIAL