XN000022-1991-05-01 — Page 8

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WEDNESDAY, MAY 1, 1991

"HOWEVER, AS I EXPLAINED EARLIER, THE PURPOSE OF THE LEGISLATION COULD BE FRUSTRATED IF ITS SCOPE WERE REDUCED.

ONE

AS

"WE APPRECIATE THAT THE BILL MAY NOT BE AS 'USER-FRIENDLY' WOULD LIKE, BUT THE REGISTRATION PROCEDURE ITSELF 18 STRAIGHTFORWARD.

"ALSO, то ASSIST EMPLOYERS IN UNDERSTANDING THEIR STATUTORY DUTIES, WE WILL PUBLISH EXPLANATORY PAMPHLETS BEFORE BRINGING THE LEGISLATION INTO OPERATION, HE SAID.

"I

MR MACLEOD SAID IT HAD ALSO BEEN POINTED OUT THAT SELECTED PROVISIONS IN THE BILL, IN PARTICULAR, THE REQUIREMENT ΤΟ SUBMIT STATEMENTS AND CERTIFICATES TO THE REGISTRAR, WOULD LEAD TO INCREASED COSTS IN THE OPERATION OF RETIREMENT SCHEMES.

"WHILE THIS IS A FAIR COMMENT, I THINK IT IS GENERALLY ACCEPTED THAT THERE IS A PRICE ATTACHED TO EVERY REGULATORY REGIME.

"WHILE THE REQUIREMENTS IN THE BILL MAY RESULT IN HIGHER ADMINISTRATIVE COSTS FOR RETIREMENT SCHEMES, THIS IS A REASONABLE PRICE ΤΟ PAY IN ORDER TO ACHIEVE BETTER PROTECTION FOR SCHEME MEMBERS, HE EXPLAINED.

HAD

HE SAID THERE HAD BEEN EXTENSIVE CONSULTATION ON THE SUBJECT OVER THE PAST THREE YEARS, ADDING THAT MANY CONSTRUCTIVE COMMENTS BEEN OFFERED BY VARIOUS PROFESSIONAL BODIES, ADVISORY COMMITTEES TRADE ORGANISATIONS DURING THIS PERIOD.

DEBATE ON THE BILL WAS ADJOURNED.

AND

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INFRASTRUCTURE PROJECTS TO MEET DEMANDS IN NORTH-WEST NT

IN THE OR BRING

SEVERAL MAJOR TRANSPORT INFRASTRUCTURE PROJECTS NORTH-WEST NEW TERRITORIES ARE EITHER UNDER CONSTRUCTION PLANNED TO KEEP PACE WITH THE POPULATION GROWTH IN THE AREA, THE SECRETARY FOR TRANSPORT, THE HON MICHAEL LEUNG, TOLD THE COUNCIL TODAY (WEDNESDAY).

LEGISLATIVE

IN REPLY TO A QUESTION BY THE HON LAU WONG-FAT, MR LEUNG SAID THESE PROJECTS INCLUDED THE TUEN MUN YUEN LONG EASTERN CORRIDOR, NOW UNDER CONSTRUCTION, WHICH WOULD PROVIDE A DUAL TWO-LANE HIGHWAY LINKING THE TWO NEW TOWNS BY MID-1993.

THE FINAL PHASE OF THE NEW TERRITORIES CIRCULAR ROAD BETWEEN

AU TAU AND FAIRVIEW PARK WAS DUE FOR COMPLETION BY MID-1992.

DESIGN FOR THE YUEN LONG SOUTHERN BYPASS WAS NEARLY COMPLETED AND IT WAS HOPED THAT TENDERS FOR THIS PROJECT COULD BE INVITED BY THE END OF THIS YEAR, MR LEUNG SAID.

/THE LIGHT