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Submissions and Reports
Budget, Policy Address & Major Submissions
Digital, Information & Telecommunications
Environment & Sustainability
Financial & Treasury Services
HKCSI: Trade & Service Industry related Policies
Industry & Technology
Real Estate & Infrastructure
Retail & Tourism
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Small & Medium Enterprises
Trade & Business Facilitation
Consultations on Legislative Proposals to Enhance Regulatory Regime for Combating Money Laundering and Terrorist Financing
The Chamber has submitted its views to a government consultation on proposals to reinforce legislation and regulate certain non-financial businesses and occupations for combating money laundering and terrorist financing in Hong Kong. In its submission of 3 March, the Chamber agrees in principle with the spirit to promote business compliance but points to questions regarding the practicality, reasonableness and proportionality of the Government’s approach to achieving such goals.
Proposals to Enhance the Financial Dispute Resolution Scheme
The Chamber generally supports the FDRC’s proposals to enhance the service features of the current Financial Dispute Resolution Scheme. The Chamber has also flagged a number of issues that the FDCR should pay attention to if and when its proposals are implemented.
Consultation Paper on the 2016 Preliminary Draft Convention on the Recognition and Enforcement of Foreign Judgments
The Chamber believes that public discussion should focus on the potential merits and demerits of implementing the Convention rather than the Convention’s provisions, which is the approach adopted in the consultation paper. The Government should also take stock of existing measures for enforcing foreign judgments before consideration is given to Convention accession.
Joint Consultation Paper on Proposed Enhancements to The Stock Exchange of Hong Kong Limited's Decision-Making and Governance Structure for Listing Regulation
The Chamber does not support the proposals as set out in the consultation paper mainly because there is insufficient evidence to show that there will be net gains from doing so.
Some Proposed Amendments to the Companies Ordinance (Cap. 622) and its subsidiary legislation
The Chamber’s response to the Government’s proposed amendments to the Companies Ordinance and its subsidiary legislations is as given in the attached paper.
Public Engagement Exercise on Retirement Protection
In its submission on retirement protection, the Chamber has expressed support for directing our finite resources to helping the less well-off including the poor elderly in Hong Kong. This would necessarily entail a means-tested approach to determine eligibility. The Chamber has also called for a wholistic review of the MPF system to enhance this very important retirement pillar. Mere focus on the MPF’s offsetting mechanism would be too narrow and of limited use to be effective.
Application for a block exemption order under section 15 of the Competition Ordinance from the Hong Kong Liner Shipping Association
The Chamber supports the Hong Kong Liner Shipping Association’s application for a Block Exemption Order with respect to Vessel Sharing Agreements (VSAs) under the Competition Ordinance. The Chamber also supports the exemption of Voluntary Discussion Agreements (VDAs) if it can be shown that any harm this may bring is clearly outweighed by efficiencies, which benefit Hong Kong.
Consultation Paper: Third Party Funding for Arbitration
The Chamber has not formed a conclusion on the proposal to introduce Third Party Funding for Arbitration in Hong Kong but have set out views by members for consideration by the Law Reform Commission on the issue.
Consultation paper on the Arbitration (Amendment) Bill 2016
The Chamber responded to a consultation paper on the arbitrability of IPRs by highlighting certain aspects of the proposals that warranted government’s attention.
Submission to the Bills Committee on Patents (Amendment) Bill 2015
The Chamber does not oppose the Government’s intent to reform the Patents Bill but is concerned about the lack of concrete evidence as to the advantages arising from the proposed legislative changes.
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