On 27 July 2018, Hong Kong Exchanges and Clearing Limited (“HKEX”) published its consultation conclusions on “Review of the Corporate Governance Code and related Listing Rules” (the “Consultation Conclusions”), the relevant amendments to the Corporate Governance Code and Corporate Governance Report (the “Code”) set out in Appendix 14 and Appendix 15 to the Main Board (“MB”) and GEM Listing Rules (the “LRs”) respectively, and the related MB and GEM LRs (the “Rule and Code Amendments”).
The Rule and Code Amendments will take effect on 1 January 2019.
HKEX also published “Guidance for Boards and Directors” (the “Guidance”) (Note) to help directors carry out their role effectively. The Guidance provides practical advice to the board and directors of issuers, which advice is fully cross-referenced to the relevant LRs and corporate governance principles, provisions and practices in the Code. In certain cases, the Guidance sets out expectations placed on directors.