New Governance Structure Approved at HKIRC’s Extraordinary General Meeting

Hong Kong, August 23, 2008 – Members attending the Extraordinary Ordinary Meeting (EGM) held by Hong Kong Internet Registration Corporation Ltd (HKIRC) today approved the proposal of the new governance structure. A new Board will be effective immediately after the 2008 Annual General Meeting (AGM).

According to Companies Ordinance, there is a need to call an EGM to pass Memorandum and Articles of Association (M&A) changes for the new governance structure.

The new governance structure is based on an independent consultancy study commissioned by the government in 2006 to review the administration of ‘.hk’ in Hong Kong. The new framework, having made reference to international practices, would maximize benefits for the Hong Kong community. The new Board and the two-level corporate governance structure, which is keeping abreast with the fast-changing internet development, shall continue to uphold the interest of HKIRC and the public in the long run.

The new governance structure includes the following:
- There will be Supply and Demand Classes
- The new Board will consist of a total of eight Directors; four Directors appointed by the HKSARG and four elected Directors, two from Supply Class and two from Demand Class
- Chairman will be elected by the Board
- Establishment of Consultative and Advisory Panel (CAP)

You may click below for details of the Consultation Paper:

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Hong Kong Internet Registration Corporation Limited (HKIRC) is a non-profit-making organization endorsed by the Government of the HKSAR to oversee the administration and assignment of the Internet domain names ending with '.hk'. Through its wholly-owned subsidiary, Hong Kong Domain Name Registration Company Limited (HKDNR), HKIRC provides registration services for the English domain names ending with '', '', '', '', '', '', '.hk' and Chinese domain names ending with '.公司.hk', '.組織.hk', '.網絡.hk', '.教育.hk', '.政府.hk', '.個人.hk', '.hk'; and other domains to be introduced from time to time in Hong Kong.

Press Contact:
Angela Kwok
Tel: + 852 2319 3828
Fax: + 852 2319 2626