XN000022-1988-05-27 — Page 10

FRIDAY, MAY 27, 1988

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"THE STATEMENTS OF ACCOUNTS IN RESPECT OF THE OTHER FUNDS ARK SUBMITTED BY THE DIRECTOR OF ACCOUNTING SERVICES TO THE DIRECTOR OF AUDIT AND ARE EXAMINED AND AUDITED BY THE LATTER

IN ACCORDANCE WITH THE AUDIT ORDINANCE.

"HOWEVER, THERE IS

NO STATUTORY PROVISION FOR THEIR CERTIFICATION BY THE DIRECTOR OF AUDIT," THE SPOKESMAN SAID.

HE SAID THE PURPOSE OF THE AMENDMENT BILL WAS TO MAKE PROVISIONS IN THE AUDIT ORDINANCE TO EXPRESSLY REQUIRE THE DIRECTOR OF ACCOUNTING SERVICES TO TRANSMIT ACCOUNT STATEMENTS TO THE DIRECTOR OF ADUIT FOR THE FUNDS, OTHER THAN THE LOTTERIES FUND, SET UP IN ACCORDANCE WITH SECTION 29 OF THE PUBLIC FINANCE ORDINANCE.

IT WOULD ALSO REQUIRE THE DIRECTOR OF AUDIT ΤΟ CERTIFY THE ACCOUNTS OF THOSE FUNDS WHICH WOULD THEN BE LAID BEFORE THE LEGISLATIVE COUNCIL.

THE BILL IS EXPECTED TO BE INTRODUCED INTO THE LEGISLATIVE COUNCIL ON JUNE 8.

INSOLVENCY FUND TO GIVE GREATER PROTECTION

*

BILL 1988,

THE PROTECTION OF WAGES ON INSOLVENCY { AMENDMENT) WHICH SEEKS TO EMPOWER THE COMMISSIONER FOR LABOUR TO MAKE EX-GRATIA PAYMENTS TO EMPLOYEES WHO ARE OWED WAGES OR WAGES IN LIEU OF NOTICE AMOUNTING TO $5,000 OR

GAZETTE TODAY (FRIDAY).

LESS. WAS PUBLISHED IN THE

A LABOUR DEPARTMENT SPOKESMAN SAID THAT UNDER THE PRINCIPAL ORDINANCE, A BANKRUPTCY PETITION (IF THE EMPLOYER IS AN INDIVIDUAL) OR A WINDING-UP PETITION (IF THE EMPLOYER IS A COMPANY) MUST BE PRESENTED BEFORE ANY PAYMENT COULD BE MADE FROM THE PROTECTION OF WAGES ON INSOLVENCY FUND.

HOWEVER, NO BANKRUPTCY PETITION MAY BE BANKRUPTCY ORDINANCE IF THE DEBT OR THE AGGREGATE DOES NOT EXCEED $5,000.

MADE UNDER THE AMOUNT OF DEBTS

"THE BILL THEREFORE GIVES THE COMMISSIONER FOR LABOUR THE POWER TO MAKE EX-GRATIA PAYMENT то AN EMPLOYEE WHO IS UNABLE TO PRESENT A BANKRUPTCY PETITION AGAINST HIS INSOLVENT EMPLOYER SOLELY BECAUSE THE DEBT DOES NOT EXCEED $5,000," THE SPOKESMAN SAID.

THE PROPOSED

AMENDMENTS HAVE BEEN ENDORSED BY THE LABOUR

ADVISORY BOARD.

THE BILL WILL BE INTRODUCED INTO THE LEGISLATIVE COUNCIL EARLY NEXT MONTH.

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