14
TUESDAY, JANUARY 14, 1992
FROM THE
IT IS PROPOSED THAT EXEMPTION IS TO BE APPLIED TO BOTH EXISTING NEW ISSUES, AND TO THE INTERESTS AND PROFITS RECEIVED DATE OF ENACTMENT OF THE LEGISLATION.
ANI
HONG
BY
THE THE STAMP
KONG DOLLAR DENOMINATED DEBT INSTRUMENTS ISSUED FOUR AGENCIES WILL ALSO BE EXEMPTED FROM STAMP DUTY UNDER DUTY (AMENDMENT) (NO. 2) BILL 1992.
"IT
IS
ATTRACT INSTRUMENTS
EXEMPTIONS WOULD EXPECTED THAT THE PROPOSED THESE AGENCIES TO ISSUE HONG KONG DOLLAR DENOMINATED DEBT IN HONG KONG," THE SPOKESMAN SAID.
"THEY ALSO DEMONSTRATE HONG KONG GOVERNMENT'S SUPPORT FURTHER DEVELOPMENT OF LOCAL CAPITAL MARKETS, HE ADDED.
"
OF THE
ACTIVITY IN THE LOCAL MARKET HAS ALREADY GREATLY INCREASED MARCH 1990 FOLLOWING THE INTRODUCTION OF THE EXCHANGE FUND BILLS IN AND THE GOVERNMENT BONDS IN NOVEMBER LAST YEAR.
WOULD PROMOTE
THE
"A FURTHER EXPANSION OF THESE MARKETS DEVELOPMENT OF HONG KONG AS A FINANCIAL CENTRE, AND INCREASE LIQUIDITY IN HONG KONG DOLLAR FUNDING FOR THE PORT AND AIRPORT DEVELOPMENT STRATEGY, THE SPOKESMAN SAID.
TE
0
LUNAR NEW YEAR STATUTORY HOLIDAYS FOR EMPLOYEES
*
EMPLOYERS THE LABOUR DEPARTMENT TODAY (TUESDAY) REMINDED
THE FIRST, SECOND AND THIRD DAYS
OF LUNAR NEW
THAT
YEAR
(FEBRUARY 4, 5
AND 6) ARE STATUTORY HOLIDAYS FOR EMPLOYEES.
ARE ENTITLED ΤΟ OFF IF THEY HAVE OR LONGER JAMES
"ALL EMPLOYEES, IRRESPECTIVE OF WAGE LEVELS, THE THREE HOLIDAYS AND MUST BE PAID FOR THE DAYS WORKED CONTINUOUSLY FOR THE SAME EMPLOYER FOR THREE MONTHS IMMEDIATELY PRECEDING THE HOLIDAYS," CHIEF
OFFICER, MR
YEUNG SAID.
LABOUR
WELL
PAY "DAILY HOLIDAY
SHOULD BE EQUIVALENT TO AN EMPLOYEE'S EARNINGS ON A FULL WORKING DAY AND SHOULD INCLUDE BASIC WAGES AS AS ALLOWANCES THAT CAN BE EXPRESSED IN MONEY TERMS SUCH AS COST OF LIVING ALLOWANCE," MR YEUNG EXPLAINED.
MEALS AND
HOLIDAY "WHERE THE EARNINGS VARY FROM DAY TO DAY,
PAY SHOULD WHICH BE THE AVERAGE DAILY EARNINGS ON THE DAYS ON
AN EMPLOYEE HAS THE HOLIDAY," HE WORKED DURING EVERY COMPLETE WAGE PERIOD PRECEDING ADDED.
$200 WITH A $250 FOR HIS DAILY
FOR INSTANCE, A WORKER WHOSE DAILY BASIC WAGE IS
$50 WILL GET DAILY SUBSISTENCE ALLOWANCE OF HOLIDAY PAY.
/ANOTHER EXAMPLE