5
It is expected that there are about 20,000 schemes operating in the territory which are required to be registered under the ORSO. The registration deadline is on October 15 this year. Thereafter, it will be an offence for an employer to operate an occupational retirement scheme without the necessary registration. Therefore, employers should act now and apply to register their schemes as soon as possible.
To improve the legislative framework, the Occupational Retirement Schemes (Amendment) Bill 1995 was proposed and gazetted on January 6 this year. Its main provisions are to refine the restricted investment requirement of section 27 of the ORSO and to enable the assets of participating schemes of a pooling agreement governed by trust to be pooled for diversification of investment and greater administrative efficiency.
The report in English is now on sale at $36 each at the Government Publications Centre at Low Block, Queensway Government Offices, 66 Queensway, Hong Kong. The Chinese version of the Report will be available shortly.
End/Monday, March 13, 1995
S for S to attend Geneva Conference on Indochinese Refugees
A Government spokesman confirmed today (Monday) that a meeting of the Steering Committee of the International Conference on Indochinese Refugees would be held in Geneva on March 16.
The Secretary for Security, Mr Peter Lai, and the Refugee Coordinator, Mr Brian Bresnihan, will attend the meeting as members of the United Kingdom delegation.
The spokesman added that prior to going to Geneva, Mr Lai would visit London where he will call on the Foreign Office and the Home Office.
End/Monday, March 13, 1995