The Management Board

The Management Board is the governing body of the MPFA. The composition of the Management Board is stipulated by the MPFSO. It is to consist of not fewer than 10 directors appointed by the Chief Executive of HKSAR (CE), and a majority of the directors must be non-executive directors. The CE is to appoint one of the non-executive directors as the Chairman, and one of the executive directors as the Managing Director, who, by virtue of holding that office, is the Deputy Chairman. The roles of Chairman and Managing Director are segregated and the CE determines the terms and conditions of office of the directors.

Members of the Management Board are required to declare their pecuniary interests in matters to be considered by the Board. Particulars of such disclosure made at meetings of the Board are recorded in a register available for public inspection.

The Management Board is responsible for making decisions on key corporate strategies and policies, approving the corporate plan and budget of the MPFA, and ensuring that business operations are properly planned, authorized, undertaken and monitored. Besides being supported by a number of committees, the Management Board delegates the management of day-to-day operations to the executives of the MPFA.