Highlight The Land Registry is committed to effective corporate governance through an established framework for accountability, integrity and transparency. In 2010/11, we exceeded all the performance pledges and introduced further enhancements. We received 379 commendations and 14 suggestions on our provision of services and staff performance for 2010/11.

(a) Governance Framework

The Land Registry strives to achieve the best in corporate governance. To this end, we have established performance standards based on the cornerstones of accountability, integrity and transparency.

(i) Accountability

The Land Registry is accountable to the Development Bureau and the Financial Services and the Treasury Bureau on its business and financial performance respectively. We submit a Medium Range Corporate Plan-cum-Annual Business Plan to the two Bureaux for approval each year. The Corporate Plan sets out the blueprint for the department’s development in the next five years, while the Business plan serves as the basis against which our annual performance is evaluated. We meet regularly with the Development Bureau to review our business performance. The Development Bureau also provides policy steer on our new initiatives. In addition, we maintain regular liaison with the Financial Services and the Treasury Bureau, which monitors our financial performance.

(ii) Integrity

Under the Trading Funds Ordinance (Cap. 430), we have the flexibility to respond to service needs and enhance operational efficiency through autonomy in capital investment and the use of resources. Underpinning this flexibility is the duty to uphold integrity in discharging our responsibilities. All Land Registry staff conduct their daily business in a proper manner by complying with the departmental guidelines and the relevant Government rules and procedures. The Registry Manager is the Ethics Officer of the Land Registry overseeing the integrity management work in the department. Apart from organising training courses and workshops, relevant guidelines and circulars on integrity management are promulgated and re-circulated to staff regularly to raise their awareness.

(iii) Transparency

The Land Registry’s operation is also guided by the principle of transparency. As provided under the Trading Funds Ordinance, the Trading Fund’s annual report together with the financial statements audited by the Director of Audit are required to be tabled in the Legislative Council each year. To help keep the public abreast of our work and the latest situation in the property market, we also publish statistics on land registration and search on a monthly basis.

We maintain close contact with our private and public sector customers through our regular Customer Liaison Group meetings. The Land Titles Ordinance Steering Committee convened by the Land Registrar serves as an important forum for major stakeholders to consider key issues in preparation for the implementation of our land titles system.