A proposal to establish an Investment Committee under the West Kowloon Cultural District (WKCD) Authority has been added to the amended WKCD Authority Bill, which will be read by the Legislative Council tomorrow, said Esther Leung, Deputy Secretary for Home Affairs yesterday.

She explained that the Investment Committee is intended to advise and monitor investment of the authority. Members of the committee can be investment experts outside the authority's board.

Together with the Audit Committee and Remuneration Committee, three other committees have been included in the bill, she said.

Under the amended bill, committee chairpersons cannot be appointed as members of the Audit Committee so as to balance the independence of the Audit Committee, she explained.

The government is confident that the Legislative Council will pass the bill, Leung revealed.

Meanwhile, art collection at museums at the WKCD may not necessarily be bought items, such is a decision made after exchanging views with experts at the International Museum Conference last week, Leung said. She added that commissioning artists to make brand new creations and borrowing exhibits from other museums are other options.

Phase I of the museum cluster is planned to open in 2015 while Phase II is expected to be completed in 2031.

Leung said the government expects the authority to incur a deficit of HK$300 million each year.

"The rentals from commercial facilities may cover the deficit," she said.

(HK Edition 05/23/2008 page1)