Monitor | Hong Kong just following mainland in rejection of transparency
If Hong Kong conceals company directors' ID card numbers, it will merely assist criminal activities among officials and businessmen
In proposing to conceal the identity card numbers of company directors from the public, the Hong Kong government is taking a major backwards step away from transparency.
But in doing so, it is merely following the mainland's lead.
The Hong Kong government's plan, under which directors would no longer have to disclose their identity card numbers in the Companies Registry, is ostensibly driven by a concern for their privacy.
Strangely, that concern was not a big factor in the initial consultations on the rule, which argued that "misuse of identification numbers is not perceived to be a major problem in Hong Kong".
On the other hand, the consultation papers warned that "restricting access to identification numbers may deprive the public of a means of uniquely identifying individuals, and might make it easier for the dishonest to escape creditors or otherwise engage in fraudulent activity".
This conclusion was supported by the former registrar of companies, who declared "the proposal to withhold key information on directors will hinder third parties from identifying and contacting the directors of companies … If enacted, the new provisions will undermine the principles of accountability and transparency which lie at the heart of Hong Kong's company law and will very adversely affect Hong Kong's image as a major international business and financial centre".