XN000022-1987-07-01 — Page 12

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WEDNESDAY, JULY 1, 1987

HE WAS GLAD THAT THE GOOD EMPLOYER REPRESENTATIVES VOLUNTARILY ACCEPTED THIS IN GOOD FAITH, BEARING IN MIND THAT THEY DID NOT OWE THE WORKERS A CENT IN WAGES OF COMPANIES IN RECEIVERSHIP.

HOWEVER, HE SAID EMPLOYERS OUTSIDE THE MEETING BELIEVED THAT THIS MIGHT BE THE THIN END OF THE WEDGE AND THE LEVY MIGHT B.E INCREASED SUBSTANTIALLY TO MEET MORE AND MORE DEMANDS FROM EMPLOYEES AND TO COVER OTHER ITEMS BESIDES LAGES.

MR CHAN SAID THE PROTECTION OF WAGES ON INSOLVENCY FUND HAD EXTENDED COVERAGE TO THE 13TH MONTH WAGES (I.E., THE CHINESE NEW YEAR BONUS } AND" NOW WE ARE DEBATING ON THE COVERAGE OF WAGES IN LIEU OF NOTICE (WILON). THE BONE OF CONTENTION WAS 7 DAYS WAGES OR ONE MONTH, HE SAID.

SHOULD

"AS CHAIRMAN OF THE FUND BOARD, I WILL STAND BY THE MAJORITY VIEW OF THE BOARD, I. E. 7 DAYS WILON

BE COVERED BUT WITHOUT INCREASE IN LEVY FOR THE COMING YEAR.

+

MR CHAN SAID THE SURPLUS OF THE FUND WAS MADE UP OF SIX MONTHS RESERVE COLLECTED BEFORE DATE

DATE OF OPERATION OF TUE FUND AND THE 1985/86 AND 1986/87 SURPLUSES WHICH STOOD AT A TOTAL AMOUNT OF $68.2 MILLION.

HE SAID THE AVERAGE CLAIM PAID IN 1985/6 WAS $2,292.02 AND IN 1986/7 1T HAD GONE UP BY SOME 12.6 PER CENT DUE TO INFLATION

ETC. $2,580.42.

"DISREGARDING THE

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DAYS WILON PAYMENT AND NEXT INFLATION FACTOR, $68.2 MILLION MAY BE SUFFICIENT FOR WHO MAY LOSE THEIR JOBS.

26,439

TO

YEAR'S PERSONS

"IF WE OPEN THE FLOOD GATE LIKE THE WAR MEMORIAL FUND AND TRAVEL AGENTS FUND AND MAKE THE PROTECTION OF WAGES ON INSOLVENCY FUND INSOLVENT, THEN AS FUND ADMINISTRATORS, OUR IMPRUDENCE WILL BE DOING INJUSTICE TO THESE 26,439 PERSONS AND THEY WILL HAVE THE FEELING OF THE DOOR OF RELIEF SLAM SHUT IN THEIR FACE, MR CHAN SAID.

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