THURSDAY, NOVEMBER 8, 1990
9
BILL TO REFLECT NEW KCRC MANAGEMENT STRUCTURE
*
A BILL AMENDING THE KOWLOON-CANTON RAILWAY CORPORATION ORDINANCE TO REFLECT THE NEW MANAGEMENT STRUCTURE OF THE CORPORATION WILL BE INTRODUCED INTO THE LEGISLATIVE COUNCIL SHORTLY.
A TRANSPORT BRANCH SPOKESMAN TODAY (THURSDAY} SAID THAT AT PRESENT, THE KCRC ORDINANCE PROVIDED FOR THE APPOINTMENT OF A CHAIRMAN AND MANAGING DIRECTOR RESPECTIVELY, BOTH OF WHOM SHOULD MEMBERS OF THE MANAGING BOARD OF THE CORPORATION.
BE
"SINCE THE NEW FULL-TIME CHAIRMAN IN HIS OTHER CAPACITY AS CHIEF EXECUTIVE WILL ASSUME THE DUTIES AND RESPONSIBILITIES OF MANAGING DIRECTOR, IT IS NO LONGER NECESSARY TO PROVIDE FOR THE SEPARATE APPOINTMENT OF A MANAGING DIRECTOR TO THE CORPORATION, HE SAID.
THE SPOKESMAN SAID THAT SUBJECT TO THE LEGISLATIVE COUNCIL'S ENDORSEMENT, THE KORC { AMENDMENT) ORDINANCE 1990 WOULD COME INTO EFFECT ON DECEMBER 24 THIS YEAR WHICH COINCIDED WITH THE COMMENCEMENT DATE OF THE TERM OF THE OFFICE OF THE NEW CHAIRMAN OF THE CORPORATION, APPOINTED BY THE GOVERNOR.
THE APPOINTMENT OF MR KEVIN HYDE TO THE NEW POST WAS ANNOUNCED IN JUNE THIS YEAR.
NO DECISION YET ON PENSION PROPOSALS
COMMENTING ON PRESS
CIVIL
REPORTS THAT THE GOVERNMENT WAS CONSIDERING SETTING ASIDE A $15 BILLION FUND FOR THE PAYMENT OF
(THURSDAY) THAT SERVICE PENSIONS, A GOVERNMENT SPOKESMAN SAID TODAY
YEAR ROLL FORWARD PENSION FUND THE FIVE
WAS ONE OF VARIOUS OF THEIR SUGGESTIONS MADE BY STAFF TO MEET CONCERNS ABOUT THE FUTURE PENSIONS.
OTHER SUGGESTIONS INCLUDE A HIGHER COMMUTATION OF PENSIONS A PROVIDENT FUND.
AND
IS STILL AS то WHAT
"THE GOVERNMENT'S CONSIDERATION OF THESE SUGGESTIONS AT A PRELIMINARY STAGE AND NO DECISION HAS YET BEEN MADE IF ANY ACTION SHOULD BE TAKEN, THE SPOKESMAN EMPHASISED.
"CONSIDERATION OF ANY SUCH ACTION WOULD HAVE TO HAVE REGARD THE QUESTION OF RESOURCES," HE ADDED.
ΤΟ
SIMPLY AN
ESTIMATE OF FORWARD
THE COST PENSION FUND,**
"THE SUM OF $15 BILLION IS IMPLICATIONS OF THE SUGGESTED FIVE YEAR ROLL
THE SPOKESMAN EXPLAINED.
/10
Page 10Page 11
No comments yet.
Private notes are available after approval.