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The Secretary for Financial Services, Mr Rafael Hui, today (Saturday) announced that the Chief Executive has appointed Mr Alan Hoo, S.C. and Mr Geoffrey Ma, S.C., respectively as the Chairman and Deputy Chairman of the Securities and Futures Appeals Panel ("the Panel").

Mr Hui commented that "both Mr Hoo and Mr Ma are individuals of high standing in the legal profession. Their extensive knowledge and experience make them highly qualified for the appointments".

Together with the appointment of the Chairman and Deputy Chairman, the Chief Executive has also re-appointed Messrs. Roderick Woo, Nicholas Allen, Patrick Fung and Ms Betty Ho as members of the Panel.

The term of these appointments runs from October 13, 1999 to October 12, 2001, both dates inclusive.

The Panel was established in May 1989 under section 18 of the Securities and Futures Commission Ordinance (Cap. 24) to hear appeals against decisions made by the Commission in relation to applications for, or revocation of, registration of market intermediaries, and against the exercise of intervention powers by the SFC on the business of a registered person.

Where a person appeals to the Panel under the SFC Ordinance, the Chairman of the Panel shall appoint a Tribunal consisting of three members of the Panel, who shall be the Chairman or the Deputy Chairman, and two of the members.

Mr Hui also paid tribute to Messrs. Robert Tang, S.C. and Ronnie Tong, S.C. respectively the former Chairman and Deputy Chairman of the Panel, as well as Hon. James Tien, retired member of the Panel, for their contribution to the Panel over the last six years.

"The Panel has successfully established its reputation in the securities and futures market in the past years. This owes much to their dedicated service," Mr Hui said.

End/Saturday, October 16, 1999

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