The Land Registry was established on 1 August 1993. It was one of the first
trading fund government departments.
As a trading fund, the Land Registry has greater flexibility in managing its finances. This flexibility allows it to respond promptly to the changing needs of its fee-paying customers by introducing new services, enhancing the mode of operations, and investing in capital projects, such as office automation and information technology, that result in service improvements.
The Land Registrar is the General Manager of the Land Registry Trading Fund. He is accountable directly to the Secretary for Planning and Lands, and to the Financial Secretary, for managing the business of the Land Registry and achieving its performance targets and financial objectives.
The trading fund's Annual Report and the certified financial statements of the Director of Audit are required to be tabled in the Legislative Council each year.
A trading fund is a financial and accounting arrangement that requires a department whose services are of a commercial nature to operate on a commercial basis while remaining as a government department.
The primary objective is to improve the quality of service to customers.
A trading fund government department is required to balance income and expenditure, taking one year with another.
As a trading fund, the Land Registry has greater flexibility in managing its finances. This flexibility allows it to respond promptly to the changing needs of its fee-paying customers by introducing new services, enhancing the mode of operations, and investing in capital projects, such as office automation and information technology, that result in service improvements.
The Land Registrar is the General Manager of the Land Registry Trading Fund. He is accountable directly to the Secretary for Planning and Lands, and to the Financial Secretary, for managing the business of the Land Registry and achieving its performance targets and financial objectives.
The trading fund's Annual Report and the certified financial statements of the Director of Audit are required to be tabled in the Legislative Council each year.
TradingFund
A trading fund is a financial and accounting arrangement that requires a department whose services are of a commercial nature to operate on a commercial basis while remaining as a government department.
The primary objective is to improve the quality of service to customers.
A trading fund government department is required to balance income and expenditure, taking one year with another.