Introduction
A discussion of «information» as a topic of relevance to CG requires a recognition that while CG related information is frequently not going to amount to information that is subject to Hong Kong's statutory disclosure laws, because it may not be likely to have an impact on the market in the issuer's securities, shareholders cum investors do consider the CG standards of an issuer in the total mix of available information. Many of the current requirements affecting CG disclosures in Hong Kong are instead subject to non- statutory codes that carry with them concerns as to how effectively they can be enforced.
This Section takes as its primary concern the mechanisms that promote the timely disclosure of important CG-related information to shareholders (Sections 3.3.1 and 3.3.2). Board processes that should operate to identify or acquire information relevant to CG concerns are considered in relation to board evaluation (Section 3.3.3) and audit committee work (Section 3.3.4). Other board processes, such as executive compensation, changes of control, etc. are discussed in the Sections that follow. The means of identifying, preparing and disseminating the information, the assurance of quality, and the means by which this is mandated and enforced are central to each of these concerns.