THURSDAY, SEPTEMBER 20, 1990
"FOR EXAMPLE, WHERE THE SCHEME IS GOVERNED BY HONG KONG LAW, THE THE COURT MAY MAKE AN ORDER THAT THE SCHEME BE WOUND UP AND WHERE ASSETS OF THE SCHEME ARE INADEQUATE TO MEET ITS LIABILITIES, THE COURT MAY, UPON APPLICATION BY MEMBERS OF THE SCHEME, DETERMINE A SUM EQUAL ΤΟ THE SHORTFALL AND GIVE JUDGEMENT AGAINST THE EMPLOYER FOR THAT AMOUNT, MR IP SAID.
WHERE THE SCHEME IS NOT GOVERNED BY HONG KONG LAW, THE COURT CANNOT MAKE A WINDING UP ORDER.
HOWEVER, THE COURT MAY, UPON APPLICATION, DIRECT AN INQUIRY INTO THE ENTITLEMENTS OF THE MEMBERS OF THE SCHEME IN HONG KONG, MR IP SAID.
"WHERE THERE IS A SHORTFALL, THE COURT MAY GIVE JUDGEMENT FOR THIS AGAINST THE EMPLOYER, HE ADDED.
+
TO
"IN DRAFTING THE LEGISLATION, WE HAVE DELIBERATELY LEFT A CONSIDERABLE DEGREE OF DISCRETION TO THE COURT ON MATTERS RELATING THE WINDING UP OF A RETIREMENT SCHEME, MR IP SAID.
OF
"SINCE THE COURT IS IN THE BEST POSITION TO DECIDE, ACCORDING то THE CIRCUMSTANCES OF EACH CASE, WHAT IS IN THE BEST INTERESTS SCHEME MEMBERS," HE EXPLAINED.
THE REGULATORY PROPOSALS NOW SET OUT IN THE WHITE BILL HAD WIDE IMPLICATIONS FOR EMPLOYERS, EMPLOYEES, ACCOUNTANTS, SOLICITORS, ACTUARIES AS WELL AS INSURANCE COMPANIES AND BANKS, WHICH ARE INVOLVED IN THE MANAGEMENT OF RETIREMENT SCHEMES.
"NEW DUTIES AND
11
RESPONSIBILITIES
ARE PLACED UPON THESE
PERSONS, MR IP SAID.
ΤΟ
END OF
HE REMINDED THOSE WHO WISHED TO COMMENT ON THE WHITE BILL SEND THEIR SUBMISSIONS TO THE MONETARY AFFAIRS BRANCH BY THE THIS MONTH.
"ALL COMMENTS
BILL WILL
"
RECEIVED WILL BE CAREFULLY CONSIDERED BE INTRODUCED INTO THE LEGISLATIVE COUNCIL IN THE SESSION, HE ADDED.
AND COMING
A
1991 CENSUS WILL ADOPT SELF-ENUMERATION METHOD
THE CENSUS AND STATISTICS DEPARTMENT WILL USE A NEW PROCEDURE, THE "SELF-ENUMERATION" METHOD, FOR THE SHORT FORM ENUMERATION 1991 CENSUS IN ORDER TO SAVE MANPOWER.
THE DEPUTY COMMISSIONER FOR FREDERICK HO, SAID THIS WHEN ADDRESSING ROTARY CLUB TODAY (THURSDAY).
IN THE
CENSUS AND STATISTICS,
A LUNCHEON MEETING
OF
MR THE
/THE QUESTIONNAIRE
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