WEDNESDAY, NOVEMBER 12, 1980
+THE INTENTION HAS ALWAYS BEEN THAT EMPLOYERS WHO CAN AFFORD TO BE MORE GENEROUS SHOULD MAKE EVERY EFFORT TO BE SO. FOR THESE EMPLOYERS AND THEIR EMPLOYEES, THE STATUTORY PROVISIONS SHOULD PROVIDE A YARDSTICK WHICH MAY BE USED AS A BASIS FOR NEGOTIATION.
+ IN THIS REGARD, I AM PLEASED TO OBSERVE THAT MOST EMPLOYERS HAVE ADOPTED AN ENLIGHTENED ATTITUDE IN DEALING WITH CLAIMS FOR SEVERANCE PAY.
+MANY CLAIMS HAVE BEEN PEACEFULLY SETTLED THROUGH DIRECT NEGOTIATION BY REFERRING TO THE STATUTORY STANDARDS. IN MOST CASES, EMPLOYERS DO RATHER BETTER THAN THESE STANDARDS.+
MR CHAN REMARKED THAT ALTHOUGH THE SEVERANCE PAY LAW HAD IN GENERAL WORKED SATISFACTORILY, IT WAS CONSTANTLY REVIEWED FOR IMPROVEMENT. HE DID NOT DISMISS THE PROBABILITY THAT A NEED MIGHT ARISE FOR THE REVISION OF SOME OF ITS PROVISIONS.
+YOU CAN REST ASSURED THAT, AS AMENDMENT OF THE EMPLOYMENT ORDINANCE IS A CONTINUOUS PROCESS, SO THE PROVISIONS ON SEVERANCE PAY WILL BE REVISED AS APPROPRIATE TO MEET CHANGING NEEDS AND CIRCUMSTANCES IN THE TIME TO COME,+ HE SAID.
RECORD NUMBER OF NEW COMPANIES INCORPORATED *****
THE COMPANIES REGISTRY INCORPORATED A RECORD NUMBER OF 11 907 NEW COMPANIES DURING THE YEAR 1979-80, AN INCREASE OF 2 646 COMPARED WITH THE PREVIOUS YEAR.
HOWEVER, THE AGGREGATE OF ALL CAPITALS DROPPED SLIGHTLY BY $24 MILLIÓN FROM THE TOTAL OF $3 287 MILLION IN 1978-79.
ALTOGETHER 711 COMPANIES WERE DISSOLVED, INCLUDING 242 DELETED FROM THE COMPANIES REGISTER, LEAVING 70 863 ON THE REGISTER AT THE END OF THE YEAR.
DELETIONS WERE MADE MAINLY BECAUSE THE REGISTRAR GENERAL HAD REASON TO BELIEVE THAT THE COMPANIES WERE NOT CARRYING ON BUSINESS OR WERE NOT IN OPERATION.
THE NUMBER OF COMPANIES INCORPORATED OUTSIDE HONG KONG, WHICH HAVE ESTABLISHED A PLACE OF BUSINESS HERE, ROSE BY 148 TO 1 303.
AT THE END OF THE YEAR THERE WERE 341 INSURANCE COMPANIES CONDUCTING THE REGULATED CLASSES OF BUSINESS, INCLUDING 168 HONG KONG COMPANIES, 59 BRITISH COMPANIES AND 41 AMERICAN COMPANIES.
THE TOTAL NUMBER OF APPLICATIONS FOR REGISTRATION OF TRADE MARKS WAS 4 902, A RECORD FIGURE AND 571 MORE THAN THE PREVIOUS RECORD OF 4-311 IN 1978-79.
/OF THE