| I. | Confirmation of minutes of meeting
(8:30 am - 8:32 am)
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| LC Paper No. CB(1)939/04-05
(issued vide LC Paper No. CB(1)977/04-05 on 23 February 2005)
| - | Minutes of fourth meeting held on 3 February 2005
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| II. | Meeting with deputations, academics and the Administration
(8:32 am - 10:00 am)
Part A: Presentation of views by deputations and academics
Submissions from three organizations and two academics and related papers
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| LC Paper No. CB(1)668/04-05(01)
(English version issued on 10 January 2005)(Chinese translation issued vide LC Paper No. CB(1)692/04-05 on 12 January 2005)
| - | Submission dated 22 December 2004 from The Hong Kong Mortgage Corporation Limited
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| LC Paper No. CB(1)668/04-05(03)
(English version issued on 10 January 2005)(Chinese version issued vide LC Paper No. CB(1)692/04-05 on 12 January 2005)
| - | Paper provided by the Administration (including Annex A - Administration's response to the submission dated 22 December 2004 from The Hong Kong Mortgage Corporation Limited)
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| LC Paper No. CB(1)692/04-05(01)
(English version issued on 12 January 2005)(Chinese translation issued vide LC Paper No. CB(1)962/04-05 on 22 February 2005)
| - | Submission dated 10 January 2005 from The Hong Kong Mortgage Corporation Limited
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| LC Paper No. CB(1)692/04-05(03)
(English version issued on 12 January 2005)(Chinese translation issued vide LC Paper No. CB(1)938/04-05 on 21 February 2005)
| - | Hong Kong Mortgage Corporation Limited's letter dated 11 January 2005 commenting on the paper provided by the Administration (LC Paper No. CB(1)668/04-05(03))
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| LC Paper No. CB(1)647/04-05(01)
(Chinese translation and English version)(issued on 6 January 2005)
| - | Submission dated 31 December 2004 from the Hong Kong Capital Markets Association
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| LC Paper No. CB(1)681/04-05(01)
(English version issued on 11 January 2005)(Chinese version issued vide LC Paper No. CB(1)723/04-05 on 17 January 2005)
| - | Administration's response to the submission from the Hong Kong Capital Markets Association
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| LC Paper No. CB(1)709/04-05(01)
(English version issued on 14 January 2005)(Chinese translation issued vide LC Paper No. CB(1)938/04-05 on 21 February 2005)
| - | Submission dated 12 January 2005 from the Hong Kong Institute of Certified Public Accountants
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| LC Paper No. CB(1)938/04-05(01)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Submission dated 14 February 2005 from Professor Kalok CHAN, Head of Department of Finance, Hong Kong University of Science and Technology
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| LC Paper No. CB(1)938/04-05(02)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Submission dated 14 February 2005 from Professor Raymond SO, Associate Professor, Director, M. Sc. Programme in Finance, The Chinese University of Hong Kong
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| Other submissions
Submissions from the following organizations/academics not attending the meeting:
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| LC Paper No. CB(1)938/04-05(03)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Letter dated 1 February 2005 from The Asian Securitization Network
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| LC Paper No. CB(1)938/04-05(04)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Submission dated 2 February 2005 from Dr Bao Ben-Hsien & Mr Yuen Kam-Por for and on behalf of Professor Ferdinand Akthar Gul, Head and Chair Professor of Accounting and Corporate Governance, School of Accounting and Finance, The Hong Kong Polytechnic University
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| LC Paper No. CB(1)938/04-05(05)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Submission dated 15 February 2005 from ACI - The Financial Markets Association of Hong Kong
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| LC Paper No. CB(1)938/04-05(06)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Joint submission dated 17 February 2005 from Dr Maurice K S TSE, Associate Dean, School of Economics & Finance, and Dr Frederik Pretorius, Associate Professor, Department of Real Estate and Construction, The University of Hong Kong
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| LC Paper No. CB(1)938/04-05(07)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Submission dated 16 February 2005 from Heller Ehrman White & McAuliffe LLP
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| LC Paper No. CB(1)938/04-05(08)
(English version issued on 21 February 2005)(Chinese translation to follow)
| - | Submission dated 18 February 2005 from Ms Ann Rutledge, a partner of R & R Consulting
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| Part B: Response by the Administration
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| LC Paper No. CB(1)938/04-05(09)
(English version issued vide LC Paper No. CB(1)962/04-05 on 22 February 2005)
(Chinese version attached)
| - | Paper provided by the Administration on "Impact of the Bill on the asset-securitization market in Hong Kong"
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| Part C: Discussion
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| III. | Meeting with the Administration
(10:00 am - 10:30 am)
Part A: Matters arising from the first meeting on 8 November 2004
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| LC Paper No. CB(1)453/04-05(15)
(issued on 10 December 2004)
| - | "Follow-up to the first meeting on 8 November 2004" prepared by the Legislative Council Secretariat
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| LC Paper No. CB(1)453/04-05(16)
(issued on 10 December 2004)
| - | Paper provided by the Administration on "Follow-up actions arising from the discussion at the meeting on 8 November 2004"
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| Part B: Matters arising from the second meeting on 16 December 2004
Administration's responses to two submissions received before the second meeting
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| LC Paper No. CB(1)681/04-05(02)
(English version issued on 11 January 2005)(Chinese version issued vide LC Paper No. CB(1)723/04-05 on 17 January 2005)
| - | Administration's response to the submissions from the Company & Financial Law Committee of The Law Society of Hong Kong and Linklaters
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| Part C: Matters arising from the third meeting on 13 January 2005
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| LC Paper No. CB(1)825/04-05(02)
(English version issued on 1 February 2005)(Revised pages 9 and 10 of English version issued vide LC Paper No. CB(1)843/04-05 on 2 February 2005)(Chinese version issued vide LC Paper No. CB(1)843/04-05 on 2 February 2005)
| - | Paper provided by the Administration on "Follow-up actions arising from the discussion at the meeting on 13 January 2005"
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| IV. | Any other business
(10:30 am onwards)
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Background information on the Bill
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LC Paper No. CB(3)41/04-05
(issued on 11 October 2004)
| - | The Bill
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LC Paper No. CB(1)161/04-05(01)
(issued on 5 November 2004)
| - | Marked-up copy of the Companies (Amendment) Bill 2004
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Ref: C2/1/57/2(04) Pt. 5
(issued on 6 October 2004)
| - | Legislative Council Brief issued by the Financial Services and the Treasury Bureau
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LC Paper No. LS2/04-05
(issued vide LC Paper No. CB(2)47/04-05 on 14 October 2004)
| - | Legal Service Division Report
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LC Paper No. CB(1)162/04-05(01)
(issued on 5 November 2004)
| - | Background brief prepared by the Legislative Council Secretariat
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LC Paper No. CB(1)192/04-05(01)
(issued on 9 November 2004)
| - | Powerpoint presentation material provided by the Administration
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Papers prepared by the Secretariat
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LC Paper No. CB(1)465/04-05(01)
(issued on 14 December 2004)
| - | Summary of submissions (Position as at 14 December 2004)
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LC Paper No. CB(1)668/04-05(02)
(issued on 10 January 2005)
| - | "Follow-up to the second meeting on 16 December 2004" prepared by the Legislative Council Secretariat
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LC Paper No. CB(1)668/04-05(05)
(issued on 10 January 2005)
| - | "Proposed work plan" prepared by the Legislative Council Secretariat
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LC Paper No. CB(1)825/04-05(01)
(issued on 1 February 2005)
| - | "Follow-up to the third meeting on 13 January 2005" prepared by the Legislative Council Secretariat
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Papers provided by the Administration
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LC Paper No. CB(1)668/04-05(03)
(English version issued on 10 January 2005)
(Chinese version issued vide LC Paper No. CB(1)692/04-05 on 12 January 2005)
| - | Paper provided by the Administration on "Follow-up actions arising from the discussion at the meeting on 16 December 2004"
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Letters from Legal Service Division to the Administration
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LC Paper No. CB(1)162/04-05(02)
(issued on 5 November 2004)
| - | Letter dated 1 November 2004 from the Assistant Legal Adviser to the Administration
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LC Paper No. CB(1)668/04-05(04)
(issued on 10 January 2005)
| - | Letter dated 24 December 2004 from the Assistant Legal Adviser to the Administration
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LC Paper No. CB(1)853/04-05(01)
(English version issued on 2 February 2005)
(Chinese version to follow)
| - | Letter dated 2 February 2005 from the Assistant Legal Adviser to the Administration
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Administration's response to Legal Service Division's letters
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LC Paper No. CB(1)453/04-05(17)
(issued on 10 December 2004)
| - | Reply dated 23 November 2004 from the Administration to the Assistant Legal Adviser
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LC Paper No. CB(1)825/04-05(03)
(issued on 1 February 2005)
| - | Reply dated 27 January 2005 from the Administration to the Assistant Legal Adviser
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Submissions received
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LC Paper No. CB(1)453/04-05(01) (Revised)
(English version issued vide LC Paper No. CB(1)472/04-05 on 15 December 2004)
(Chinese translation issued vide LC Paper No. CB(1)647/04-05 on 6 January 2005)
| - | Submission dated 14 December 2004 from W H Lam & Company
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LC Paper No. CB(1)453/04-05(02)
(English version issued on 10 December 2004)
(Chinese translation issued vide LC Paper No. CB(1)647/04-05 on 6 January 2005)
| - | Submission dated 9 December 2004 from The Hong Kong Mortgage Corporation Limited
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LC Paper No. CB(1)530/04-05(03)
(English version only)
(issued on 17 December 2004)
| - | Information on financial impacts on banks due to accounts consolidation of special purpose entities for securitization purposes provided by the Hong Kong Mortgage Corporation Limited
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LC Paper No. CB(1)530/04-05(04)
(English version only)
(issued on 17 December 2004)
| - | Example of UK's "linked-presentation" format for preparation of group accounts provided by the Hong Kong Mortgage Corporation Limited
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LC Paper No. CB(1)453/04-05(03)
(Chinese version only)
(issued on 10 December 2004)
| - | Submission dated 3 December 2004 from The Chinese General Chamber of Commerce
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LC Paper No. CB(1)453/04-05(04)
(Chinese translation and English version)
(issued on 10 December 2004)
| - | Submission dated 23 November 2004 from the Securities and Futures Commission
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LC Paper No. CB(1)453/04-05(05)
(Chinese translation and English version)
(issued on 10 December 2004)
| - | Submission dated 26 November 2004 from The Association of Chartered Certified Accountants (Hong Kong)
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LC Paper No. CB(1)453/04-05(06)
(Chinese translation and English version)
(issued vide LC Paper No. CB(1)465/04-05 on 14 December 2004)
| - | Submission dated 26 November 2004 from The Association of International Accountants (Hong Kong Branch)
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LC Paper No. CB(1)453/04-05(07)
(Chinese translation and English version)
(issued on 10 December 2004)
| - | Submission dated 27 November 2004 from the Standing Committee on Company Law Reform
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LC Paper No. CB(1)453/04-05(08)
(Chinese translation and English version)
(issued on 10 December 2004)
| - | Submission dated 29 November 2004 from The Hong Kong Institute of Company Secretaries
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LC Paper No. CB(1)453/04-05(09)
(English version issued on 10 December 2004)
(Chinese translation issued vide LC Paper No. CB(1)465/04-05 on 14 December 2004)
| - | Submission dated 30 November 2004 from The Hong Kong Association of Restricted Licence Banks and Deposit-taking Companies
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LC Paper No. CB(1)453/04-05(10)
(Chinese translation and English version)
(issued on 10 December 2004)
| - | Submission dated 3 December 2004 from Company & Financial Law Committee, The Law Society of Hong Kong
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LC Paper No. CB(1)453/04-05(11)
(Chinese and English versions)
(issued on 10 December 2004)
| - | Submission dated 7 December 2004 from Linklaters
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LC Paper No. CB(1)453/04-05(12)
(Chinese translation and English version)
(issued on 10 December 2004)
| - | Submission dated 11 November 2004 from Mr John BREWER
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LC Paper No. CB(1)453/04-05(13)
(Chinese translation and English version)
(issued on 10 December 2004)
| - | Submission dated 21 November 2004 from Mr David M WEBB
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LC Paper No. CB(1)530/04-05(02)
(Chinese and English versions)
(issued on 17 December 2004)
| - | Sample of group accounts (extract) provided by the Hong Kong Institute of Certified Public Accountants to illustrate the impact of the changes introduced by the Bill
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Administration's response to submissions
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LC Paper No. CB(1)453/04-05(14)
(issued on 10 December 2004)
| - | Administration's responses to six submissions from The Chinese General Chamber of Commerce, Mr David Webb, Securities and Futures Commission, The Association of Chartered Certified Accountants, The Standing Committee on Company Law Reform and The Hong Kong Institute of Company Secretaries
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LC Paper No. CB(1)465/04-05(02)
(issued on 14 December 2004)
| - | Administration's responses to three submissions from The Association of International Accountants (Hong Kong Branch), The Hong Kong Association of Restricted Licence Banks and Deposit-taking Companies and W H Lam & Company
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LC Paper No. CB(1)465/04-05(03)
(English version issued vide LC Paper No. CB(1)472/04-05 on 15 December 2004)
(Chinese version issued vide LC Paper No. CB(1)584/04-05 on 23 December 2004)
| - | Administration's responses to the submission from The Hong Kong Mortgage Corporation Limited
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LC Paper No. CB(1)530/04-05(01)
(English version issued on 17 December 2004)
(Chinese version issued vide LC Paper No. CB(1)584/04-05 on 23 December 2004)
| - | Administration's responses to the submission dated 14 December 2004 from W H LAM & Company
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LC Paper No. CB(1)692/04-05(02)
(English version issued on 12 January 2005)
(Chinese version issued vide LC Paper No. CB(1)807/04-05 on 28 January 2005)
| - | Administration's preliminary response to the submission dated 10 January 2005 from The Hong Kong Mortgage Corporation Limited
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LC Paper No. CB(1)843/04-05(01)
(English version only)
(issued on 2 February 2005)
| - | Sample Consolidated Financial Statements provided by the Hong Kong Institute of Certified Public Accountants
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Other paper
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LC Paper No. LC Paper No. CB(1)976/04-05(01)
(Chinese version only)
(issued on 23 February 2005)
| - | Letter dated 21 February 2005 from Hon CHAN Kam-lam to the Administration requesting clarification on a number of points related to the Bill
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