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Official Record of Proceedings
LEGISLATIVE COUNCIL ─ 3 November 2010 1399 OFFICIAL RECORD OF PROCEEDINGS Wednesday, 3 November 2010 The Council met at Eleven o'clock MEMBERS PRESENT: THE PRESIDENT THE HONOURABLE JASPER TSANG YOK-SING, G.B.S., J.P. THE HONOURABLE ALBERT HO CHUN-YAN IR DR THE HONOURABLE RAYMOND HO CHUNG-TAI, S.B.S., S.B.ST.J., J.P. THE HONOURABLE LEE CHEUK-YAN DR THE HONOURABLE DAVID LI KWOK-PO, G.B.M., G.B.S., J.P. THE HONOURABLE FRED LI WAH-MING, S.B.S., J.P. DR THE HONOURABLE MARGARET NG THE HONOURABLE JAMES TO KUN-SUN THE HONOURABLE CHEUNG MAN-KWONG THE HONOURABLE CHAN KAM-LAM, S.B.S., J.P. THE HONOURABLE MRS SOPHIE LEUNG LAU YAU-FUN, G.B.S., J.P. THE HONOURABLE LEUNG YIU-CHUNG DR THE HONOURABLE PHILIP WONG YU-HONG, G.B.S. 1400 LEGISLATIVE COUNCIL ─ 3 November 2010 THE HONOURABLE WONG YUNG-KAN, S.B.S., J.P. THE HONOURABLE LAU KONG-WAH, J.P. THE HONOURABLE LAU WONG-FAT, G.B.M., G.B.S., J.P. THE HONOURABLE MIRIAM LAU KIN-YEE, G.B.S., J.P. THE HONOURABLE EMILY LAU WAI-HING, J.P. THE HONOURABLE ANDREW CHENG KAR-FOO THE HONOURABLE TIMOTHY FOK TSUN-TING, G.B.S., J.P. THE HONOURABLE TAM YIU-CHUNG, G.B.S., J.P. THE HONOURABLE ABRAHAM SHEK LAI-HIM, S.B.S., J.P. THE HONOURABLE LI FUNG-YING, S.B.S., J.P. THE HONOURABLE TOMMY CHEUNG YU-YAN, S.B.S., J.P. THE HONOURABLE FREDERICK FUNG KIN-KEE, S.B.S., J.P. -
Minutes of the 1St Meeting Held in Conference Room 1 of the Legislative Council Complex at 2:30 Pm on Friday, 14 October 2011
立法會 Legislative Council LC Paper No. CB(2) 97/11-12 Ref : CB2/H/5/10 House Committee of the Legislative Council Minutes of the 1st meeting held in Conference Room 1 of the Legislative Council Complex at 2:30 pm on Friday, 14 October 2011 Members present: Hon Miriam LAU Kin-yee, GBS, JP (Chairman) Hon Fred LI Wah-ming, SBS, JP (Deputy Chairman) Ir Dr Hon Raymond HO Chung-tai, SBS, S.B.St.J., JP Hon LEE Cheuk-yan Dr Hon David LI Kwok-po, GBM, GBS, JP Dr Hon Margaret NG Hon James TO Kun-sun Hon CHEUNG Man-kwong Hon CHAN Kam-lam, SBS, JP Hon Mrs Sophie LEUNG LAU Yau-fun, GBS, JP Hon LEUNG Yiu-chung Dr Hon Philip WONG Yu-hong, GBS Hon WONG Yung-kan, SBS, JP Hon LAU Kong-wah, JP Hon Emily LAU Wai-hing, JP Hon Andrew CHENG Kar-foo Hon TAM Yiu-chung, GBS, JP Hon Abraham SHEK Lai-him, SBS, JP Hon LI Fung-ying, SBS, JP Hon Tommy CHEUNG Yu-yan, SBS, JP Hon Audrey EU Yuet-mee, SC, JP Hon Vincent FANG Kang, SBS, JP Hon WONG Kwok-hing, MH Hon LEE Wing-tat Dr Hon Joseph LEE Kok-long, SBS, JP Hon Jeffrey LAM Kin-fung, GBS, JP Hon Andrew LEUNG Kwan-yuen, GBS, JP Hon CHEUNG Hok-ming, GBS, JP Hon WONG Ting-kwong, BBS, JP - 2 - Hon Ronny TONG Ka-wah, SC Hon CHIM Pui-chung Prof Hon Patrick LAU Sau-shing, SBS, JP Hon KAM Nai-wai, MH Hon Cyd HO Sau-lan Dr Hon LAM Tai-fai, BBS, JP Hon CHAN Hak-kan Hon Paul CHAN Mo-po, MH, JP Hon CHAN Kin-por, JP Dr Hon Priscilla LEUNG Mei-fun, JP Hon CHEUNG Kwok-che Hon WONG Sing-chi Hon WONG Kwok-kin, BBS Hon IP Wai-ming, MH Hon IP Kwok-him, GBS, JP Hon Mrs Regina IP LAU Suk-yee, GBS, JP Dr Hon PAN Pey-chyou Hon Paul TSE Wai-chun, -
Minutes of the 27Th Meeting Held in Conference Room 1 of the Legislative Council Complex at 2:30 Pm on Friday, 25 June 2021
立法會 Legislative Council LC Paper No. CB(2)1238/20-21 Ref : CB2/H/5/20 House Committee of the Legislative Council Minutes of the 27th meeting held in Conference Room 1 of the Legislative Council Complex at 2:30 pm on Friday, 25 June 2021 Members present : Hon Starry LEE Wai-king, SBS, JP (Chairman) Hon MA Fung-kwok, GBS, JP (Deputy Chairman) Hon Abraham SHEK Lai-him, GBS, JP Hon Tommy CHEUNG Yu-yan, GBS, JP Hon WONG Ting-kwong, GBS, JP Hon CHAN Hak-kan, BBS, JP Hon CHAN Kin-por, GBS, JP Hon WONG Kwok-kin, SBS, JP Hon Mrs Regina IP LAU Suk-yee, GBS, JP Hon Paul TSE Wai-chun, JP Hon Michael TIEN Puk-sun, BBS, JP Hon Steven HO Chun-yin, BBS Hon Frankie YICK Chi-ming, SBS, JP Hon YIU Si-wing, BBS Hon CHAN Han-pan, BBS, JP Hon LEUNG Che-cheung, SBS, MH, JP Hon Alice MAK Mei-kuen, BBS, JP Hon KWOK Wai-keung, JP Hon Christopher CHEUNG Wah-fung, SBS, JP Hon Elizabeth QUAT, BBS, JP Hon Martin LIAO Cheung-kong, GBS, JP Hon POON Siu-ping, BBS, MH Dr Hon CHIANG Lai-wan, SBS, JP Ir Dr Hon LO Wai-kwok, SBS, MH, JP Hon CHUNG Kwok-pan Hon Jimmy NG Wing-ka, BBS, JP Dr Hon Junius HO Kwan-yiu, JP Hon Holden CHOW Ho-ding Hon SHIU Ka-fai, JP Hon Wilson OR Chong-shing, MH Hon YUNG Hoi-yan, JP -2 - Dr Hon Pierre CHAN Hon CHAN Chun-ying, JP Hon CHEUNG Kwok-kwan, JP Hon LUK Chung-hung, JP Hon LAU Kwok-fan, MH Hon Kenneth LAU Ip-keung, BBS, MH, JP Dr Hon CHENG Chung-tai Hon Vincent CHENG Wing-shun, MH, JP Hon Tony TSE Wai-chuen, BBS, JP Members absent : Hon Jeffrey LAM Kin-fung, GBS, JP Dr Hon Priscilla LEUNG Mei-fun, SBS, JP Clerk in attendance : Miss Flora TAI -
Hon Jeffrey LAM Kin-Fung, GBS, JP 林健鋒議員
Hon Jeffrey LAM Kin-fung, GBS, JP 林健鋒議員 Functional Constituency - Commercial (First) Business and Professionals Alliance for Hong Kong Membership in Environmental-related Committees: Panel on Environmental Affairs Voting Record: 8 December 2016: Motion Moved by Hon Chan Han-Pan on “Updating the Hong Kong Planning Standards and Guidelines and Increasing Community Facilities to Enhance Living Environment” as Amended by Hon Alice Mak, Ir Dr Hon Lo Wai-Kwok, Hon Frankie Yick and Hon Andrew Wan 1 June 2017: Motion on “Promoting ‘Hong Kong People Using Hong Kong No Water’ and Protecting Local Resources” 5 July 2017: Proposed Resolution Moved by Secretary for the Environment under the Product Eco-Responsibility Ordinance and the Interpretation Yes and General Clauses Ordinance 16 November 2017: Proposed Resolution under the Energy Efficiency Yes (Labelling of Products) Ordinance 31 January 2018: Protection of Endangered Species of Animals and Plants Yes (Amendment) Bill 2017 - Third Reading 12 April 2018: Motion Moved by Hon Frankie Yick on “Promoting the Popularization of Electric Vehicles” as Amended by Hon Kenneth Leung, Yes Hon Charles Peter Mok, Ir Dr Hon Lo Wai-Kwok, Hon Yung Hoi-Yan, Hon Chan Hak-Kan and Hon Tanya Chan Panel on Environmental Affairs Attendance: As Member 2016-17 0% 20% 40% 60% 80% 100% As Non-Member 2016-17 2017-18 2018-19 2019-20 Panel 1 0 1 Comments Made in Environmental-related Committees: Panel on Environmental Affairs 20170429 46. Mr Jeffrey LAM pointed out that the physical environment Climate of Hong Kong indeed posed constraints on RE development. In considering the installation of solar panels on buildings, any possible impact on structural safety of the buildings should be properly evaluated beforehand. -
Minutes Have Been Seen by the Administration)
立法會 Legislative Council Ref : CB2/PL/HA LC Paper No. CB(2)1229/17-18 (These minutes have been seen by the Administration) Panel on Home Affairs Minutes of meeting held on Monday, 22 January 2018, at 8:30 am in Conference Room 3 of the Legislative Council Complex Members : Hon MA Fung-kwok, SBS, JP (Chairman) present Hon YUNG Hoi-yan (Deputy Chairman) Hon CHAN Hak-kan, BBS, JP Hon Claudia MO Hon Steven HO Chun-yin, BBS Hon YIU Si-wing, BBS Hon CHAN Chi-chuen Hon LEUNG Che-cheung, SBS, MH, JP Hon Christopher CHEUNG Wah-fung, SBS, JP Hon IP Kin-yuen Hon Andrew WAN Siu-kin Hon CHU Hoi-dick Hon Jimmy NG Wing-ka, JP Dr Hon Junius HO Kwan-yiu, JP Hon Holden CHOW Ho-ding Hon SHIU Ka-fai Hon SHIU Ka-chun Hon Tanya CHAN Hon HUI Chi-fung Hon LUK Chung-hung Hon KWONG Chun-yu Members : Hon Michael TIEN Puk-sun, BBS, JP attending Hon Frankie YICK Chi-ming, SBS, JP Members : Dr Hon Fernando CHEUNG Chiu-hung absent Hon LAU Kwok-fan, MH Hon Kenneth LAU Ip-keung, BBS, MH, JP - 2 - Public Officers : Item III attending Dr LAW Chi-kwong, GBS, JP Chairperson of the Community Care Fund Task Force under the Commission on Poverty Secretary for Labour and Welfare Mr Patrick LI, JP Deputy Secretary for Home Affairs (1) Mr Nick AU YEUNG Principal Assistant Secretary for Home Affairs (Community Care Fund) Ms May CHAN, JP Deputy Secretary for Education (6) Mr FUNG Man-chung Assistant Director (Family and Child Welfare) Social Welfare Department Ms Ivis CHUNG Chief Manager (Allied Health) Hospital Authority Item IV Mr LAU Kong-wah, JP Secretary for Home Affairs Mr -
Should Functional Constituency Elections in the Legislative Council Be
Hong Kong Diploma of Secondary Education Liberal Studies Independent Enquiry Study Report Standard Covering Page (for written reports and short written texts of non-written reports starting from 2017) Enquiry Question: Should Functional Constituency elections in the Legislative Council be abolished? Year of Examination: Name of Student: Class/ Group: Class Number: Number of words in the report: 3162 Notes: 1. Written reports should not exceed 4500 words. The reading time for non-written reports should not exceed 20 minutes and the short written texts accompanying non-written reports should not exceed 1000 words. The word count for written reports and the short written texts does not include the covering page, the table of contents, titles, graphs, tables, captions and headings of photos, punctuation marks, footnotes, endnotes, references, bibliography and appendices. 2. Candidates are responsible for counting the number of words in their reports and the short written texts and indicating it accurately on this covering page. 3. If the Independent Enquiry Study Report of a student is selected for review by the School-Based Assessment System, the school should ensure that the student’s name, class/ group and class number have been deleted from the report before submitting it to the Hong Kong Examinations and Assessment Authority. Schools should also ensure that the identities of both the schools and students are not disclosed in the reports. For non-written reports, the identities of the students and schools, including the appearance of the students, should be deleted. Sample 1 Table of Contents A. Problem Definition P.3 B. Relevant Concepts and Knowledge/ Facts/ Data P.5 C. -
Minutes Have Been Seen by the Administration)
立法會 Legislative Council LC Paper No. CB(2)1329/06-07 (These minutes have been seen by the Administration) Ref : CB2/PL/ED Panel on Education Minutes of meeting held on Monday, 12 February 2007, at 4:30 pm in the Chamber of the Legislative Council Building Members : Hon Jasper TSANG Yok-sing, GBS, JP (Chairman) present Dr Hon YEUNG Sum (Deputy Chairman) Hon CHEUNG Man-kwong Hon LEUNG Yiu-chung Hon SIN Chung-kai, JP Hon Emily LAU Wai-hing, JP Hon TAM Yiu-chung, GBS, JP Hon Abraham SHEK Lai-him, JP Hon Tommy CHEUNG Yu-yan, JP Hon Audrey EU Yuet-mee, SC, JP Hon MA Lik, GBS, JP Hon Andrew LEUNG Kwan-yuen, SBS, JP Dr Hon Fernando CHEUNG Chiu-hung Prof Hon Patrick LAU Sau-shing, SBS, JP Members : Hon James TO Kun-sun attending Hon LEUNG Kwok-hung Dr Hon KWOK Ka-ki Hon Ronny TONG Ka-wah, SC Members : Hon LEE Cheuk-yan absent Hon Mrs Selina CHOW LIANG Shuk-yee, GBS, JP - 2 - Public Officers : Item IV attending Professor Maurice GALTON Consultant, Study on Small Class Teaching Ms Bernadette LINN, JP Deputy Secretary (Education and Manpower)2 Ms IP Ling-bik Principal Assistant Secretary (Education Commission and Planning) Ms CHUM Chui-che Senior Education Officer (Research and Test Development)2 Item V Professor Arthur LI, GBS, JP Secretary for Education and Manpower Mr Raymond WONG, JP Permanent Secretary for Education and Manpower Mrs Betty IP Deputy Secretary for Education and Manpower 4 Mr LEE Yuk-fai Principal Assistant Secretary (Professional Development and Training) Professor Edmond KO Chairman of the Committee on Teachers' Work Attendance by : Item IV invitation Hong Kong Professional Teachers' Union Miss SY On-na Vice-President Mr IP Kin-yuen Principal - 3 - Civic Party Ms Annie KI Hong Kong Island Branch District Development Officer Centre for Development and Research in Small Class Teaching, The Hong Kong Institute of Education Dr LAI Kwok-chan Head Professor Peter BLATCHFORD Professor, School of Psychology and Human Development in the Institute of Education, University of London S.K.H. -
The Brookings Institution Center for Northeast Asian Policy Studies
THE BROOKINGS INSTITUTION CENTER FOR NORTHEAST ASIAN POLICY STUDIES The 2004 Legislative Council Elections and Implications for U.S. Policy toward Hong Kong Wednesday, September 15, 2004 Introduction: RICHARD BUSH Director, Center for Northeast Asian Policy Studies The Brookings Institution Presenter: SONNY LO SHIU-HING Associate Professor of Political Science University of Waterloo Discussant: ELLEN BORK Deputy Director Project for the New American Century [TRANSCRIPT PREPARED FROM A TAPE RECORDING.] THE BROOKINGS INSTITUTION CENTER FOR NORTHEAST ASIAN POLICY STUDIES 1775 MASSACHUSETTS AVENUE, NW WASHINGTON, D.C. 20036 202-797-6307 P R O C E E D I N G S MR. BUSH: [In progress] I've long thought that politically Hong Kong plays a very important role in the Chinese political system because it can be, I think, a test bed, or a place to experiment on different political forums on how to run large Chinese cities in an open, competitive, and accountable way. So how Hong Kong's political development proceeds is very important for some larger and very significant issues for the Chinese political system as a whole, and therefore the debate over democratization in Hong Kong is one that has significance that reaches much beyond the rights and political participation of the people there. The election that occurred last Sunday is a kind of punctuation mark in that larger debate over democratization, and we're very pleased to have two very qualified people to talk to us today. The first is Professor Sonny Lo Shiu-hing, who has just joined the faculty of the University of Waterloo in Canada. -
Minutes Have Been Seen by the Administration)
立法會 Legislative Council LC Paper No. CB(2)2168/16-17 (These minutes have been seen by the Administration) Ref : CB2/PL/FE Panel on Food Safety and Environmental Hygiene Minutes of meeting held on Tuesday, 13 June 2017, at 2:30 pm in Conference Room 3 of the Legislative Council Complex Members : Dr Hon Helena WONG Pik-wan (Chairman) present Hon LAU Kwok-fan, MH (Deputy Chairman) Hon Tommy CHEUNG Yu-yan, GBS, JP Prof Hon Joseph LEE Kok-long, SBS, JP Hon WONG Ting-kwong, SBS, JP Hon Starry LEE Wai-king, SBS, JP Hon CHAN Hak-kan, BBS, JP Hon Claudia MO Hon Michael TIEN Puk-sun, BBS, JP Hon Steven HO Chun-yin, BBS Hon CHAN Chi-chuen Hon CHAN Han-pan, JP Dr Hon KWOK Ka-ki Hon KWOK Wai-keung Hon Christopher CHEUNG Wah-fung, SBS, JP Dr Hon Fernando CHEUNG Chiu-hung Dr Hon Elizabeth QUAT, JP Hon Martin LIAO Cheung-kong, SBS, JP Dr Hon CHIANG Lai-wan, JP Ir Dr Hon LO Wai-kwok, SBS, MH, JP Hon HO Kai-ming Hon SHIU Ka-fai Hon SHIU Ka-chun Hon Wilson OR Chong-shing, MH Dr Hon Pierre CHAN Hon Tanya CHAN Hon CHEUNG Kwok-kwan, JP Hon HUI Chi-fung Hon Kenneth LAU Ip-keung, MH, JP - 2 - Hon KWONG Chun-yu Hon Jeremy TAM Man-ho Dr Hon LAU Siu-lai Members : Hon LEUNG Yiu-chung absent Dr Hon Priscilla LEUNG Mei-fun, SBS, JP Hon WONG Kwok-kin, SBS, JP Hon LEUNG Kwok-hung Hon LEUNG Che-cheung, BBS, MH, JP Hon Alice MAK Mei-kuen, BBS, JP Hon Andrew WAN Siu-kin Hon CHU Hoi-dick Hon LUK Chung-hung Hon Nathan LAW Kwun-chung Dr Hon YIU Chung-yim [According to the Judgment of the Court of First Instance of the High Court on 14 July 2017, LEUNG Kwok-hung, Nathan LAW -
Making Labour Laws in Semi-Authoritarian Hong Kong
Making Labour Laws in Semi-Authoritarian Hong Kong : Policy Venues and Informal Rules KWOK, Chun Chai Johnny A Thesis Submitted in Partial Fulfillment of the Requirements for the Degree of Master of Philosophy in Government and Public Administration The Chinese University of Hong Kong August 2018 i Abstract of thesis entitled: Making Labour Laws in Semi-Authoritarian Hong Kong : Policy Venues and Informal Rules Submitted by KWOK, Chun Chai Johnny for the degree of Master of Philosophy in Government and Public Administration at The Chinese University of Hong Kong in August 2018 In post-handover Hong Kong, civil liberties are combined with malformed democratic institutions to form what scholars call semi-authoritarianism. While business elites are guaranteed to enjoy strong influence in the legislature and thereby succeeded in rejecting several labour laws, some labour laws were occasionally passed with near-unanimous support from the business elites. Facing similar situations of policy punctuation and change in democratic societies, scholars of policy studies have used the concept of policy venue to identify the institutional sites for portraying problems and solutions, and hence reveal the influences of different actors on a certain policy. Although some scholars have argued that the concept of policy venue could be applied to study policy punctuation and change in semi-authoritarian Hong Kong, concrete examples that could back up this claim are rather rare. Also, while scholars that focus on regime types and democratization have agreed that informal institutions or rules could greatly affect formal rules and procedures and must therefore be given extra focus when studying about semi-authoritarian regimes, it is far from clear about what these rules are, and how can they be enforced in different policy venues of Hong Kong. -
Legislative Council
立法會 Legislative Council LC Paper No. FC184/17-18 (These minutes have been seen by the Administration) Ref : FC/4/1 Finance Committee of the Legislative Council Minutes of the 13th meeting held at Conference Room 1 of the Legislative Council Complex on Thursday, 23 February 2017, at 11:00 am Members present: Hon CHAN Kin-por, BBS, JP (Chairman) Hon Michael TIEN Puk-sun, BBS, JP (Deputy Chairman) Hon James TO Kun-sun Hon LEUNG Yiu-chung Hon Tommy CHEUNG Yu-yan, GBS, JP Prof Hon Joseph LEE Kok-long, SBS, JP Hon Jeffrey LAM Kin-fung, GBS, JP Hon Starry LEE Wai-king, SBS, JP Dr Hon Priscilla LEUNG Mei-fun, SBS, JP Hon Paul TSE Wai-chun, JP Hon Frankie YICK Chi-ming, JP Hon YIU Si-wing, BBS Hon MA Fung-kwok, SBS, JP Hon Charles Peter MOK, JP Hon CHAN Chi-chuen Hon CHAN Han-pan, JP Hon LEUNG Che-cheung, BBS, MH, JP Hon Alice MAK Mei-kuen, BBS, JP Dr Hon KWOK Ka-ki Hon KWOK Wai-keung Hon Christopher CHEUNG Wah-fung, SBS, JP Dr Hon Fernando CHEUNG Chiu-hung Dr Hon Helena WONG Pik-wan Hon IP Kin-yuen Dr Hon Elizabeth QUAT, JP Dr Hon CHIANG Lai-wan, JP - 2 - Ir Dr Hon LO Wai-kwok, SBS, MH, JP Hon Alvin YEUNG Hon CHU Hoi-dick Hon Jimmy NG Wing-ka, JP Dr Hon Junius HO Kwan-yiu, JP Hon HO Kai-ming Hon LAM Cheuk-ting Hon Holden CHOW Ho-ding Hon SHIU Ka-fai Hon SHIU Ka-chun Hon Wilson OR Chong-shing, MH Hon YUNG Hoi-yan Dr Hon Pierre CHAN Hon CHAN Chun-ying Hon CHEUNG Kwok-kwan, JP Hon HUI Chi-fung Hon LUK Chung-hung Hon LAU Kwok-fan, MH Dr Hon CHENG Chung-tai Hon KWONG Chun-yu Hon Jeremy TAM Man-ho Dr Hon YIU Chung-yim Dr Hon LAU Siu-lai Members absent: -
AIRPORT AUTHORITY (The ‘‘Issuer’’) (A Statutory Body Corporate Established in Hong Kong Under the Airport Authority Ordinance)
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities. This announcement is not for distribution, directly or indirectly, in or into the United States. This announcement does not constitute or form a part of an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities have not been, and will not be, registered under the United States Securities Act of 1993 (the ‘‘U.S. Securities Act’’), or the securities laws of any state of the United States or other jurisdiction and the securities may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state or local securities law. There will be no public offering of securities in the United States. This announcement and the listing document referred to herein have been published for information purposes only as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and do not constitute an offer to sell nor a solicitation of an offer to buy any securities.