The Legislative Council passed amendments yesterday condemning the government and demanding a more urgent response to the minibonds wrangle. Lawmakers Kam Nai-wai, Wong Kwok-hing and Alan Leong Kah-kit moved three amendments to a motion by Jeffrey Lam Kin-fung on assisting investors who have fallen foul of the Lehman Brothers collapse after buying minibonds guaranteed by the investment bank. The council voted 39 to eight in favour of Mr Kam's amendment, and passed the other two by a show of hands. The motion was in response to calls by thousands of people who bought financial products linked to Lehman for banks to admit they mis-sold the products and give refunds. The products involved were complex derivatives including minibonds, equity-linked notes and structured retail products. The amendments passed despite assurances from Secretary for Financial Services and the Treasury Chan Ka-keung that banks were sorting out the issue. 'I believe that banks are very proactively dealing with it,' Professor Chan said. 'They are working fast.' He noted that the government had already taken up several of the proposals in the amendments. The motion, after Mr Kam's amendment, said the council 'condemns the government for its inadequate monitoring'. It had previously merely urged the government to take action. It also calls for Financial Secretary John Tsang Chun-wah and the Financial Services and the Treasury Bureau - the top government official and body in charge of finance - to be investigated for a 'dereliction of duty' in addition to the Monetary Authority and the Securities and Futures Commission, which have been bearing the brunt of investors' attacks. The new version reflects lawmakers' frustration. Although Mr Tsang and Professor Chan had proposed that banks buy back the products at market value, it says the government and distributors had yet to give a timetable.