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The Financial Services and the Treasury Bureau announced today (November 30) that the Chief Executive has made the following appointments to the Process Review Committee (PRC):
Chairman :
Dr Eric KC Li, GBS, JP
Members :
Mr Nicholas Peter Etches
Mr Mervyn Robert John Jacob
Mr Ling Chung Yan
Professor Tsang Shu Ki
Ms Maria Xuereb
The appointments are effective for a term of three years starting tomorrow (December 1).
Except for Mr Nicholas Peter Etches and Mr Mervyn Robert John Jacob, all members, including the chairman, are serving members of the PRC.
The PRC is an independent committee which reviews the Monetary Authority (MA)'s adherence to due process and procedural fairness in exercising its powers to oversee designated systems under the Clearing and Settlement Systems Ordinance. The PRC seeks to ensure that the same set of oversight standards is applied to all designated systems, whether or not the MA has an interest in them.
The committee is required to submit its annual reports and, if appropriate, special reports to the Financial Secretary.
Ends/Friday, November 30, 2007
Issued at HKT 14:31
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