FRIDAY, JUNE 10, 1988
"SUCH DISCLOSURE OF
10
INFORMATION,
HOWEVER, IS NOT POSSIBLE UNDER THE EXISTING BANKING ORDINANCE AND AMENDMENTS TO ENABLE THE COMMISSIONER TO DO SO ARE THEREFORE NECESSARY, THE SPOKESMAN NOTED.
HE SAID THE BILL ALSO SOUGHT TO FACILITATE DISCLOSURE OF INFORMATION BY THE COMMISSIONER OF BANKING TO OTHER LOCAL SUPERVISORS.
"AT PRESENT, THE COMMISSIONER IS NOT FREE UNDER THE BANKING ORDINANCE TO DISCLOSE CONFIDENTIAL INFORMATION ΤΟ THE COMMISSIONER FOR SECURITIES AND COMMODITIES TRADING OR THE INSURANCE AUTHORITY WITHOUT SEEKING THE PERMISSION OF THE FINANCIAL SECRETARY IN EACH CASE.
"WITH GROWING INTEGRATION OF FINANCIAL MARKETS, AND THE NEED FOR CLOSER CO-OPERATION BETWEEN SUPERVISORS, THE NEED FOR INFORMATION SHARING IS INCREASING.
ΤΟ
"AMENDMENTS ARE THEREFORE PROPOSED TO ENABLE THE COMMISSIONER OF BANKING TO PASS INFORMATION DIRECTLY TO OTHER LOCAL SUPERVISORS ASSIST THEM IN THEIR RESPECTIVE FUNCTIONS," HE SAID.
THE BILL 18 DUE TO BE INTRODUCED INTO THE LEGISLATIVE ON JUNE 22.
COUNCIL
OF
MEMBERS OF THE PUBLIC WHO WISH TO COMMENT ON THE PROVISIONS THE BILL SHOULD WRITE ΤΟ THE SECRETARY FOR MONETARY AFFAIRS AT ADMIRALTY CENTRE, TOWER 11, 24TH FLOOR, HARCOURT ROAD, OR TO OMELCO AT & JACKSON ROAD, CENTRAL.
PROPOSALS TO IMPROVE LONG SERVICE PAYMENT GAZETTED
THE EMPLOYMENT (AMENDMENT) (NO. 2) BILL 1988, WHICH SEEKS TO IMPROVE THE LONG SERVICE PAYMENT SCHEME, WAS PUBLISHED IN THE GAZETTE TODAY (FRIDAY).
THE BILL CONTAINS A NUMBER OF AMENDMENTS WHICH ARE MADE IN THE LIGHT OF EXPERIENCE OF THE SCHEME'S OPERATION SINCE JANUARY 1986.
UNDER THE BILL, AN EMPLOYEE WHO HAS FULFILLED THE QUALIFYING PERIOD OF SERVICE FOR LONG SERVICE PAYMENT SHALL BE ENTITLED ΤΟ A PAYMENT IF HE RESIGNS ON GROUND OF ILLNESS AFTER BEING CERTIFIED BY A DOCTOR IN A GOVERNMENT OR SURVENTED HOSPITAL AS BEING PERMANENTLY UNFIT FOR HIS PRESENT JOB.
AN EMPLOYEE