The Land Registry Annual Report 2009/10
Home | Main Menu | Contact Us
Traditional Chinese | Simplified Chinese | Graphic Version
| << Previous |
In August 1993, the Land Registry was established as one of Hong Kong's first Trading Fund Departments. The trading fund concept is an approach to public financing designed to encourage greater focus on improving services and responding to customer needs. The Land Registrar serves as the General Manager of the Land Registry Trading Fund.
Under the trading fund model, the Land Registry remains a public agency but is responsible for its own finances and must meet its expenditure from the income derived from fees and charges for the services that it provides. The Trading Fund pays dividends to public funds but may otherwise retain profits to invest for service improvements. In particular, it has autonomy over capital investment projects that will support its services and has flexibility to redeploy staff to respond to the service needs of clients and customers.
The Trading Fund's Annual Report and the certified financial statements by the Director of Audit must be tabled in the Legislative Council of the Hong Kong Special Administrative Region each year