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WEDNESDAY, JULY 1, 1987
HE ALSO DISAGREED WITH THE ARGUMENT THAT THE AMENDMENT WAS HARMLESS BECAUSE THE $2,000 CEILING WAS ALREADY IN PLACE.
HE SAID THIS ONLY HELD TRUE IF EVERY WORKER SEEKING RELIEF THROUGH THIS FUND WERE ENTITLED TO THE MAXIMUM. IF THE MAJORITY OF THE ENTITLEMENT DID NOT LIMIT THE MAXIMUM CEILING THEN EXPANDING
30 SEVEN DAYS IN LIEU OF NOTICE TO
DAYS WOULD CERTAINLY HAVE THE EFFECT OF MAKING MORE PAYOUTS FROM THE FUND THEREBY MAKING A DEEPER ¡ DENT INTO THE FUND'S RESOURCES.
YEARS HAD
HE ADDED THAT THE FUND'S EXPERIENCE IN THE PAST TWO BEEN GAINED WITHIN A PERIOD WHERE THE LOCAL ECONOMIC CLIMATE HAD BEEN VERY HEALTHY. GIVEN AN EXTERNALLY ORIENTED ECONOMY, HONG KONG MUST
BE ALWAYS RECOGNISE THAT IN FUTURE THERE MIGHT
A POSSIBLE ECONOMIC OF DOWNTURN. THAT WAS WHEN THE ORIGINAL PURPOSE
THE FUND WOULD BE
MOST NEEDED TO BE UPKEPT.
"WE MUST ALWAYS BE CAUTIOUS AND ALERT IN THE MANAGEMENT OF FUNDS FOR THE PUBLIC AND I CERTAINLY DO NOT BELIEVE WE SHOULD SPEND JUST BECAUSE THERE IS MONEY IN THE BANK," HE CONCLUDED.
EXTENSION PROVIDES FAIRER PROTECTION FOR EMPLOYEES
LEGISLATIVE COUNCILLOR THE HON TAM YIU-CHUNG TODAY (WEDNESDAY) SUPPORTED THE HON SZETO WAH'S MOTION WHICH SOUGHT TO EXTEND THE SCOPE OF THE PROTECTION OF WAGES ON INSOLVENCY FUND TO COVER ONE MONTH'S WAGES IN LIEU OF NOTICE.
MR TAM SAID THAT THE MAXIMUM LIMIT
OF SEVEN DAYS' WAGES OR $2,000 IN LIEU OF NOTICE PAYABLE FROM THE PROTECTION OF WAGES ON INSOLVENCY FUND WAS INCONSISTENT WITH THE PREFERENTIAL PAYMENT OF UP TO ONE MONTH'S WAGES OR $2,000 PROVIDED FOR UNDER THE COMPANIES ORDINANCE.
RECEIVED BY
HE ADDED THAT IN NEARLY 40 PER CENT OF THE CLAIMS THE FUND IN 1985/86. THE PERIOD OF NOTICE REQUIRED WAS LONGER THAN SEVEN DAYS. AS THIS WAS A SUBSTANTIAL NUMBER, THE ADOPTION OF A MINIMUM OF SEVEN DAYS' NOTICE FOR THE PAYMENT OF WAGES IN LIEU OF NOTICE IN ALL CASES WOULD THEREFORE BE UNFAIR TO ABOUT 40 PER CENT OF CLAIMANTS.
HE ALSO NOTED THAT THE GOVERNMENT CONSIDERED THAT IF ALL PAYMENTS WERE BASED ON SEVEN DAYS' NOTICE, IT WOULD AVOID THE UNNECESSARY TROUBLE OF VERIFYING THE AGREED ONE MONTH'S ORDINARY VERBAL CONTRACTS.
NOTICE IN
HE POINTED
}
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