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Listing Rules Review Part 2: Board Games, 21-Feb-2002
In Part 2 of our review of the proposed Listing Rule changes, we look at the fundamental question of independent directors and committees. Here again, the SEHK wins a perfect 6.0 in the "form over substance" category. They are skating on thin ice by allowing controlling shareholders to elect " independent" directors, a system which has failed to prevent numerous horror stories on Independent directors should be elected by independent shareholders.


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