CO129-532-8 Proposed transfer of Government Wireless services in Hong Kong to Imperial and International Communications- Ltd.... 19-12-1930 - 19-4-1932 — Page 29

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A

"undertakes to make good to the Government any

increase in the cost of pensions or gratuities

incurred by reason of the abolition of office

or by reason of the termination of Government

employment of those officers whose services

will not be required by the Government after

this Agreement comes into operation.

Under the decision in the Minutes referred to,

the Company will have to pay the cost of

pensions on abolition terms of officers whom

it continues to employ at salaries very possibly

larger than those which they have hitherto

enjoyed. In actual fact people will go on

doing the same work and get perhaps twice their

4.

previous salary for doing it. it is true AOTOMON

There is,

an indication that the general

financial management of the Company has been

in many ways deficient, but I cannot believe

that it is so deficient as to render their

acceptance of such terms as these conceivable.

So far as I know, they are entirely contrary

to the principles followed in the transfer

of the Pacific Cable Boards staff to the

Company. In that case I think (for I have not

been directly concerned with it) the Company

took over the balance standing to the credit

of a Provident Fund and continued to bear all

theobligations of the employer attaching to the

continuance