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It has only been two months since the new LegCo term began. Unfortunately, there has not been much breathing space as challenges new and old alike have arisen.

I would like to express my dismay at the disrespectful choice of words the two Youngspiration legislators had chosen during the oath-taking ceremony. The bitter repercussions of the Standing Committee of the National People’s Congress’s interpretation of the Basic Law on One Country Two Systems will continue to be felt. I firmly believe that local legislation could have been sufficient in dealing with the incident.

We also saw the ludicrous manner in which Andrew Leung was “elected” as the chairman of the Legislative Council, despite uncertainties over his nationality. The atrocity has revealed gaps in the LegCo’s rules and procedures that need to be filled through the Committee on Rules and Procedures, hopefully in the near future.

Beyond the politics, we continue to make progress on issues concerning our profession, such as the proposed amendment to the Professional Accountants Ordinance. Please continue to pay attention to our updates each month.

SELECT COMMITTEE FORMED TO INVESTIGATE
CE’S UGL MONEY

On 2 November, a petition presented by Kenneth and Democratic Party lawmaker Andrew Wan Siu-kin to investigate Chief Executive Leung Chun-ying’s acceptance of 4 million pounds from Australian engineering firm UGL received support from 26 legislators. A select committee will be formed as a result of the petition.

In his speech, Kenneth pointed out that many questions have yet been answered, including whether Leung had declared the payment upon assuming office in accordance with the Basic Law.

IMPORTANT APPOINTMENTS IN VARIOUS
PANELS AND COMMITTEES

Kenneth was elected the Deputy Chairman of the Panel on Financial Affairs, where he has reintroduced his member’s bill to amend the Professional Accountants Ordinance into the agenda.

He was also elected the Deputy Chairman of the Committee on Rules of Procedure, and the Public Accounts Committee respectively. The Committee on Rules of Procedure is responsible for reviewing the LegCo’s Rules of Procedure, while the Public Accounts Committee will consider reports of the Director of Audit on the accounts and the results of value- for-money audits of the Government.

Kenneth will also act as the Chairman of the Subcommittee to Examine the Implementation in Hong Kong of Resolutions of the United Nations Security Council in relation to Sanctions and the Deputy Chairman Parliamentary Liaison Subcommittee.

PROFESSIONAL ACCOUNTANTS (AMENDMENT) BILL 2016

After discussions with various stakeholders, Kenneth briefed members of the Panel on Financial Affairs on his intentions to introduce the private member’s bill, Professional Accountants (Amendment) Bill 2016 on 15 November. The amendment bill aims to eliminate unqualified persons or corporate bodies from using misleading descriptions claiming to provide professional accounting or related services.

INLAND REVENUE ORDINANCE (AMENDMENT OF SCHEDULE 17E)
NOTICE 2016

As Chairman, Kenneth led the Subcommittee on Inland Revenue Ordinance (Amendment of Schedule 17E) Notice 2016. The Notice will put Japan and the United Kingdom into a list of “reportable jurisdictions” under the Inland Revenue Ordinance, which will allow for the implementation of automatic exchange of financial account information in tax matters (“AEOI”) in Hong Kong with these two tax jurisdictions in 2018. The Notice also puts a list of “participating jurisdictions” under the IRO, which includes all jurisdictions committed to adopting AEOI by 2018.

Kenneth will report the deliberations of the Subcommittee to the House Committee in mid-December.

RTHK LETTER TO HONG KONG

Ahead of the twenty-second session of the Conference of the Parties (COP 22) in Marrakech, Morocco, Kenneth talks about the steps Hong Kong needs to take to reduce its carbon footprint in RTHK’s Letter to Hong Kong. Read his letter addressed to his daughter Siobhan here.

BRIEFING WITH OXFAM

27 Oct

As part of a prospective research project, Kenneth was consulted by Oxfam to share his views on tax transparency and international efforts to combat tax evasion.

INTERVIEW BY NHK ( 日本放送協會 )

3 Nov

Kenneth was interviewed by Japanese news station NHK to comment on the discovery that identities of Japanese citizens were being stolen by foreign intermediary service providers for offshore company registration purposes. The revelation has caught wide public attention in Japan. The segment is expected to air locally on NHK’s main channel in Japan later this year.

COP 22 SIDE EVENTS

7-18 Nov

Our office sent our senior research officer on environmental policies to attend the side events at the Marrakech Climate Change Conference with other Hong Kong delegates. The conference, also known as COP22, was held from in Marrakech, Morocco.

HKICPA SMP SYMPOSIUM

25 Nov

Kenneth was invited to this year’s SMP Symposium at the Institute’s training centre as part of the “Meet your LegCo representative” session. Attending SMPs were updated on seven legislations that could heavily impact their practices, including legislation regarding audit regulatory reform, disclosure of beneficial interests in company shareholdings, and practices of regional corporate service providers.

CPD SEMINAR

GOVERNANCE SERIES HOUSING PRICE IN HONG KONG

Speaker:

Dr Hon YIU Chung-yim ( 姚松炎教授 ),

Legislative Council member (Functional Constituency –
Architectural, Surveying, Planning and Landscape)

Date:

12 December (Monday)

Time:

7:00 - 8:30 p.m.

Venue:

Auditorium, 1/F, the Duke of Windsor Social Service
Building, No. 15 Hennessy Road, Wanchai, Hong Kong

Medium:

Cantonese

Fee:

Free of charge

THE 2016 ELECTION COMMITTEE SUBSECTOR ELECTIONS

Your vote will decide who gets to nominate and vote for the next
Chief Executive on your behalf.

THE OFFICE OF HON KENNETH LEUNG

Room 918. Legislative Council Complex. 1 Legislative Council Road. Central. Hong Kong Tel
+852 2352 3209 Fax +852 3020 9849
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