The chaos surrounding the distribution of duplicate share certificates for the Mass Transit Railway Corp will come under the spotlight again at a Legislative Council financial services panel meeting next month. The Government would soon schedule a discussion on the incident as some legislators had already raised questions, a government spokesman said. The Securities and Futures Commission has asked the three sponsors of the MTRC share offering - Goldman Sachs, HSBC and UBS Warburg - and Central Registration, which printed the certificates, to submit a report on the chaos. After studying the report with the SFC, Secretary for Financial Services Stephen Ip Shu-kwan will speak to legislators at the meeting. Any decision on the need to regulate share registrars and the development of a scripless market would be made after assessing the report, Mr Ip said yesterday. The MTRC listing, the Government's first privatisation initiative, was marred earlier this month when Central Registration mistakenly distributed duplicate certificates to 1,508 investors. The duplicates were a defective batch that had been withheld for reprinting. Concerns have been raised over the service quality of share registrars following a variety of complaints by investors relating to the MTRC listing. One subscriber to the MTRC offer, Theresa Neumann, said she had yet to receive a refund cheque from Central Registration two weeks after the rail operator was listed. Ms Neumann said it had taken her two days to contact the share registrar because telephone lines were jammed. Meanwhile, brokers have complained that some banks have allowed customers to sell MTRC shares without going through a formal account-opening procedure. The stock exchange said it would relax its rules on one-off share sales, enabling investors to sign a simplified client agreement which required only basic identity information. This would enable one-off investors in initial public offerings such as the MTRC to sell their shares without completing the complex standard client agreement, which covers margin, short-selling and derivatives.