The Chief Executive of the Hong Kong Monetary Authority (HKMA) considers that eight directorate posts on the HKMA establishment are no longer required.

PROPOSAL

2. We propose to delete the eight directorate civil service posts set out in the preamble.

JUSTIFICATION

3. Since the establishment of the HKMA on 1 April 1993, a number of civil servants who were initially seconded to the HKMA have opted for HKMA terms of employment while some others have left for various reasons.

4. The HKMA has carried out a review of the vacant directorate civil service posts in its establishment recently. The Chief Executive of the HKMA considers that a number of directorate posts are no longer necessary. There is, however, a need to retain a number of others to ensure that capable officers who decide to remain as civil servants in the HKMA have posts for promotion. Members may wish to note that vacancies in these posts will be filled only when necessary and fully justified on operational grounds. The position of directorate civil service posts in the HKMA as at 1 September 1996 is at the Enclosure.

FINANCIAL IMPLICATIONS

5. There are no financial implications for General Revenue as full staff costs, including on-costs, of the civil service posts in the HKMA are recoverable from the HKMA.

BACKGROUND INFORMATION

6. The HKMA was established on 1 April 1993 through a merger of the then Office of the Exchange Fund, the Office of the Commissioner of Banking and the Legal Unit of the then Monetary Affairs Branch.

7. With Members approval vide EC 1992-93 Item 41, we transferred 16 directorate posts from the Civil Service to the HKMA on 1 April 1993 to facilitate the initial set-up of the HKMA. Members also agreed then that the creation and deletion of directorate civil service posts within the HKMA should be processed in accordance with normal civil service procedures, involving the Establishment Subcommittee and the Finance Committee. With Members approval vide EC(95-96)2, we created one supernumerary directorate post to handle the planning of the 1997 World Bank / IMF Annual Meetings, thus resulting in the establishment position at the Enclosure.

8. The Chief Executive of the HKMA will keep under review the continued need for the retention of the remaining civil service posts. He has already deleted a net 131 non-directorate posts under delegated authority.

CIVIL SERVICE BRANCH COMMENTS

9. Civil Service Branch supports the deletion of the eight vacant directorate posts which will no longer be filled by civil servants.

ADVICE OF THE STANDING COMMITTEE ON DIRECTORATE SALARIES AND CONDITIONS OF SERVICE

10. We shall report the deletion of the posts, if approved, to the Standing Committee on Directorate Salaries and Conditions of Service in accordance with the agreed procedure.

Financial Services Branch
October 1996

Enclosure to EC(96-97)37

Hong Kong Monetary Authority Statement of Establishment & Strength (Directorate Civil Service Posts) (Position as at 1.9.96 including changes on 1.9.96)

Rank	Establishment as at 1.9.96	Strength as at 1.9.96	Vacancy as at 1.9.96

Secretary, Government Secretariat	1	0	1^#
Administrative Officer Staff Grade A	1	0	1^#
Commissioner of Banking	1	0	1
Administrative Officer Staff Grade B	1	0	1^#
Deputy Commissioner of Banking	2	0	2
Administrative Officer Staff Grade C	2+1 Supy *	1	2^#
Assistant Commissioner of Banking	4	0	4
Deputy Secretary (Monetary Affairs)	1	1	0
Principal Assistant Secretary (Monetary Affairs)	1	0	1^#
Deputy Principal Crown Counsel	1	0	1^#
Chief Treasury Accountant	1	0	1^#
	16+1 Supy	2	15

Note :

* 1 Administrative Officer Staff Grade C (Supernumerary post) was created on 12 May 1995 for the period up to 31 December 1997 to plan and organise the 1997 World Bank / IMF Annual Meetings.

# Post(s) proposed for deletion

Last Updated on 12 August 1999

ITEM FOR ESTABLISHMENT SUBCOMMITTEE OF FINANCE COMMITTEE

HEAD 46 - GENERAL EXPENSES OF THE CIVIL SERVICE Subhead 008 Recoverable salaries and allowances (Hong Kong Monetary Authority)

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