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The Advisory Committee on Post-office Employment for Former Chief Executives and Politically Appointed Officials received a request for advice from Mr Stephen Ip, former Secretary for Economic Development and Labour, who intended to accept appointment by the Yangtze China Investment Ltd. as an independent non-executive director. The advisory committee has advised Mr Ip that it has no objection to his taking up the proposed appointment. The appointment will take effect from February 21, 2008.
In considering the case, the advisory committee noted that Mr Ip's previous official dealings in the Government were not related to the proposed appointment. As such, the advisory committee considered that the proposed appointment should not cause the company to gain unfair advantage over its competitors, nor should it cause potential conflict of interests.
The advisory committee also noted that the proposed appointment would relate to a new start-up company investing in unlisted companies, the operations of which are based principally on the Mainland. The advisory committee did not anticipate adverse public reaction or public perception problems arising from the proposed appointment.
Within one year after stepping down from office, former politically appointed officials are required to seek the advice of a committee appointed by the Chief Executive before commencing any employment. The membership of the advisory committee is as follows -
Mr Justice Pang Kin-kee (chairman)
Mr Henry Fan Hung-ling
Professor Lee Chack-fan
Dr Norman Leung Nai-pang
Dr Elizabeth S C Shing
Ends/Wednesday, February 20, 2008
Issued at HKT 19:00
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