Resolutions from the Third Meeting of the Ninth Council Concerning CHU Kwun Chuen and LAM Chi Wai, Benny
September 20, 2022
The resolutions concerning Mr. CHU Kwun Chuen and Mr. LAM Chi Wai, Benny, as determined during the Third Meeting of the Ninth Council on September 20, 2022, at 9 PM, are stated below:
Mr. LAM, who held the position of council member, tendered his resignation from the council on August 10, 2022. Similarly, Mr. CHU, who served as vice chairman, submitted his resignation on September 1, 2022.
In relation to the resignations of Mr. LAM and Mr. CHU, it is important to note that, in accordance with Article 7.4 (refer to notes), while the council has acknowledged their resignations, this acceptance does not imply concurrence with the assertion that their resignations were submitted for "sufficient reasons." Following a vote conducted among all council members, it was concluded that neither resignation was based on "sufficient reasons." Consequently, both Mr. CHU and Mr. LAM are prohibited from rejoining the council for a period of four years from this date.
Council of Hong Kong Securities and Futures Professionals Association
Article 7.4
Council Composition
Elected council members are required to elect one president and two to four vice chairmans, along with one head and one to five deputy heads for each of the following departments: General Affairs, Finance, Public Relations, Recreation & Welfare, and Industrial Relations, within 14 days post the annual general meeting, through a secret ballot process. Should a council member cease to be employed in the industry referenced in Article 3.1 during their term, they may still fulfill their council member duties until the term's conclusion. The representation of council members from any group company shall not exceed three. In the event that more than three council members from a group company are elected, only the three with the highest votes will be retained, and the remaining vacancies will be filled by other candidates based on their vote counts. If a council member resigns without sufficient justification after being elected, the council reserves the right to bar that council member from council membership for four years. A list detailing the names and roles of all council members shall be prominently displayed within the registered office of the association.