XN000022-1981-03-20 — Page 3

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FRIDAY, MARCH 20, 1981

THE SPOKESMAN POINTED OUT IT WILL BE AN OFFENCE FOR AN EMPLOYER TO TERMINATE THE CONTRACT OF EMPLOYMENT OF AN EMPLOYEE AFTER SHE HAS GIVEN NOTICE OF HER INTENTION TO TAKE MATERNITY LEAVE.

+NO EMPLOYER SHALL DISMISS AN EMPLOYEE FROM THE DATE SHE GIVES NOTICE OF TAKING MATERNITY LEAVE TO THE DATE SHE IS DUE TO RETURN TO WORK AFTER THE LEAVE, HE EXPLAINED, ADDING THAT A BREACH OF THIS SECTION WILL BE AN OFFENCE CARRYING A FINE OF $5 000.

IN THE EVENT AN EMPLOYEE BEING DISMISSED AFTER GIVING NOTICE OF HER INTENTION TO TAKE MATERNITY LEAVE, HER EMPLOYER WILL BE REQUIRED TO PAY HER MATERNITY LEAVE PAY FOR 10 WEEKS, IF SHE IS ENTITLED TO IT.

AN EMPLOYER WILL ALSO BE GUILTY OF AN OFFENCE AND LIABLE TO A FINE OF $5 000 IF HE FAILS TO GRANT MATERNITY LEAVE, MATERNITY LEAVE PAY, OR SICKNESS ALLOWANCE.

DEPOSIT-TAKING COMPANIES BILL PUBLISHED

*****

A BILL AIMED AT EMPOWERING THE GOVERNMENT TO REFUSE TO REGISTER ANY COMPANY AS A DEPOSIT-TAKING COMPANY, IS PUBLISHED IN THE GOVERNMENT GAZETTE TODAY.

UNDER THE DEPOSIT-TAKING COMPANIES ORDINANCE, THE ONLY GROUNDS ON WHICH THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES CAN REFUSE AN APPLICATION BY A COMPANY ARE.

*

THAT ITS ISSUED OR ITS PAID-UP CAPITAL ARE LESS THAN $5 MILLION OR $2.5 MILLION RESPECTIVELY (OR THE EQUIVALENT IN A FOREIGN CURRENCY)=

THAT THE OBJECTS OF THE COMPANY DO NOT INCLUDE A BUSINESS OF TAKING DEPOSITS-

* THAT THE NAME OF THE COMPANY CONTAINS ANY WORD IN

CONTRAVENTION OF ANY OTHER ORDINANCE OR THAT IT APPEARS TO THE COMMISSIONER THAT, BY REASON OF ANY CIRCUMSTANCES WHATSOEVER, THE COMPANY IS NOT A FIT AND PROPER BODY TO BE REGISTERED.

THE DEPOSIT-TAKING COMPANIES (AMENDMENT) BILL 1981 PROPOSES TO EMPOWER THE GOVERNOR TO DIRECT THE COMMISSIONER TO SUSPEND OR REFUSE THE REGISTRATION OF DEPOSIT-TAKING COMPANIES, EITHER GENERALLY OR IN ANY PARTICULAR CASE.

IT ALSO GIVES LEGAL EFFECT TO A DECISION BY THE GOVERNOR-IN- COUNCIL ON MARCH 17 TO AUTHOR ISE THE COMMISSIONER TO SUSPEND CONSIDERATION OF APPLICATIONS FOR REGISTRATION UNTIL THE AMENDING LEGISLATION COMES INTO FORCE.

THE BILL WILL BE INTRODUCED INTO THE LEGISLATIVE COUNCIL NEXT WEDNESDAY, WHEN THE FINANCIAL SECRETARY WILL STATE THE FUTURE POLICY RELATING TO THE REGISTRATION OF DEPOSIT-TAKING COMPANIES.

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