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THURSDAY, JUNE 4, 1987
HE EXPLAINED THAT THE PROPOSAL TO LIMIT TO SEVEN DAYS' WAGES IN LIEU OF NOTICE INITIALLY HAD BEEN TAKEN WITH CAUTION SINCE "A DOWNTURN IN THE ECONOMY RESULTING IN A GREATER NUMBER OF INSOLVENCIES, OR A DECLINE IN THE GROWTH OF NEW COMPANY REGISTRATIONS RESULTING IN A LOWER-THAN-ESTIMATED LEVY INCOME, COULD UPSET THE FINANCIAL STATUS OF THE FUND"
"HOWEVER, THE OPERATION OF THE FUND WILL BE REVIEWED AGAIN IN ONE YEAR'S TIME TO DETERMINE WHETHER A FURTHER EXTENSION OF THE COVERAGE CAN BE JUSTIFIED," HE ADDED.
SOME CONSEQUENTIAL AMENDMENTS
THE BILL ALSO PROPOSES TO MAKE TO THE BANKRUPTCY AND COMPANIES ORDINANCES TO REMOVE INCONSISTENCIES IN THE LIMITS ON PAYMENTS FROM THE PROTECTION OF WAGES ON INSOLVENCY
FUND.
THIS WILL ENSURE THAT AN EMPLOYEE WILL BE ABLE TO CLAIM FOR OUTSTANDING WAGES AS PREFERENTIAL PAYMENT, AND NOT BE TREATED AS AN ORDINARY CREDITOR SIMPLY BECAUSE A PETITION FOR BANKRUPTCY OR WINDING- UP IS MADE MORE THAN FOUR MONTHS AFTER THE EMPLOYEE HAS APPLIED ΤΟ THE FUND,
THE LABOUR ADVISORY BOARD AND THE PROTECTION OF WATGES ON INSOLVENCY FUND BOARD WERE CONSULTED ON THE AMEMDMENTS.
THE BILL
IS EXPECTED TO BE INTRODUCED INTO LEGISLATIVE COUNCIL FOR FIRST AND SECOND READINGS ON JUNE 17.
THE
YAU MA TEI CELEBRATES ENVIRONMENT DAY
A SITTING-OUT AREA WILL BE OPENED TOMORROW (FRIDAY) FOR YAU TEI RESIDENTS ALONG THE WATERFRONT AT MAN CHEONG STREET.
MA
THE PROJECT IS SPONSORED BY THE YAU MA TEI DISTRICT BOARD IN SUPPORT OF THE UNITED NATIONS WORLD ENVIRONMENT DAY.
BENCHES, PLANTER BOXES AND
ARBOURS ARE PROVIDED IN THIS DENSELY POPULATED AREA AND FOR NEARBY RESIDENTS.
YAU MA ΤΕΙ DISTRICT OFFICER,
MR AUGUSTINE CHENG AND THE CHAIRMAN OF DISTRICT BOARD, MR YIP WAH WILL OFFICIATE AT A PLAQUE UNVEILING CEREMONY.
NOTE TO EDITORS:
YOU ARE INVITED TO COVER THE CEREMONY AT ALONG THE WATERFRONT OF MAN CHEONG STREET, YAU (FRIDAY) AT 11 AM.
A
SITTING-OUT
AREA
MA
TEI TOMORROW
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