employers.
In the first year after the enactment of the
Bill, the cut-off date will be set in 1980, six years
before the commencement date of the Bill. In each of
the following three years the cut-off date will be moved
back by one year so that in 1989 it will come to rest in
1977.
Like any other piece of social legislation
involving the interests of both employers and employees,
the long service payment scheme represents a workable
compromise between what is desirable and what is
practicable. The scheme has to be both acceptable to
employees and
the same time affordable
at large. The present proposals are the result of a
prolonged discusssion between representatives of both
employers and employees in the Labour Advisory Board and
are acceptable to both sides.
to to employers
The Companies (Amendment) (No. 2) Bill 1985 and
the Bankruptcy (Amendment) (No. 2) Bill 1985 are
consequential amendments introduced to accord long
service payment the same preferential
severance
winding-up.
status as
payment in the event of а bankruptcy or
Sir, I beg to move.
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