About the FRC >Funding
 
 

The FRC is funded by four parties - the Companies Registry Trading Fund, the Securities and Futures Commission, the Hong Kong Exchanges and Clearing Limited and the Hong Kong Institute of Certified Public Accountants.  The four parties have signed a Memorandum of Understanding under which they have agreed to contribute:-

HK$2.5 million each per annum (a total of HK$10 million per annum) for the recurring expenses of the FRC in its first three years of operation; and
HK$5 million each (a one-off total of HK$20 million) to establish a Reserve Fund.

Contributions from the fourth year onwards will be reviewed and adjusted as necessary to reflect actual requirements.

 

 

 

 
Page last updated: 12 July 2007