XN000022-1991-12-04 — Page 11

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WEDNESDAY, DECEMBER 4, 1991

PENSION ARRANGEMENTS FOR CIVIL SERVANTS TRANSFERRED TO HOSPITAL AUTHORITY

* * * * * *

A BILL

ARRANGEMENTS FOR

THE HOSPITAL SERVICES TO THE HOSPITAL

WHICH PROVIDES FOR TWO PENSION PROFESSIONAL AND DEPARTMENTAL STAFF OF DEPARTMENT AND THE DEPARTMENT OF HEALTH TRANSFERRED AUTHORITY WAS INTRODUCED TO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

PROVISIONS) MOVING THE SECOND READING OF THE PENSIONS (SPECIAL

CIVIL SERVICE, (HOSPITAL AUTHORITY) BILL 1991, THE SECRETARY FOR THE MR BARRIE WIGGHAM, SAID THE STAFF COULD HAVE THE CHOICE OF PRESERVING "MIXED SERVICE PENSION" ARRANGEMENT THEIR PENSION RIGHTS UNDER THE AFTER TRANSFERRING TO THE AUTHORITY.

FOR SERVICE

THE

PENSION

AND

PURPOSE OF "THEIR TOTAL LENGTH OF CALCULATION WOULD BE THE SUM OF THEIR SERVICE WITH THE GOVERNMENT THE AUTHORITY," HE SAID.

ALTERNATIVELY,

THEY CAN CHOOSE THE PROVIDENT

SCHEME FUND DURING THEIR OFFERED BY THE AUTHORITY AND HAVE THEIR PENSION EARNED

WHEN: SERVICE WITH THE GOVERNMENT FROZEN. THE PENSION WOULD BE PAYABLE THEY RETIRE FROM THE AUTHORITY,

THE HOSPITAL AUTHORITY TOOK OVER THE MANAGEMENT AND CONTROL ALL PUBLIC HOSPITAL SERVICES ON DECEMBER 1 THIS YEAR.

OP

WHO TRANSFERRED TO THE AUTHORITY TO COVER THOSE OFFICERS BEFORE ENACTMENT OF THE BILL, THE PROVISIONS OF THE TO HAVE COME INTO OPERATION ON DECEMBER 1 THIS YEAR.

FOR RETIREMENT

BILL ARE DEEMED

BENEFITS

UNDER THE SALARY

ALSO PROVIDES THE BILL FROZEN PENSION ARRANGEMENT TO BE BASED ON THE LAST SUBSTANTIVE POINT, EXCEPT IN CIRCUMSTANCES OF RESIGNATION AND DEATH, AND FOR THE THE AUTHORITY AS QUALIFYING SERVICE FOR COUNTING OF SERVICE WITH

PENSION PURPOSES.

DEBATE ON THE BILL WAS ADJOURNED.

STAMP DUTY BILL INTRODUCED

RESIDENTIAL SALE AND PURCHASE COUNCIL TODAY

A BILL SEEKING TO CURB SPECULATIVE ACTIVITY IN THE PROPERTY MARKET BY MAKING STAMP DUTY PAYABLE ON AGREEMENTS (WEDNESDAY).

WAS

INTRODUCED

INTO THE

LEGISLATIVE

MOVING THE SECOND READING OF THE STAMP DUTY (AMENDMENT) (NO. 4) BILL 1991, THE SECRETARY FOR THE TREASURY, MR YEUNG KAI-YIN, SAID WITH SOME EXCEPTIONS, VENDORS AND PURCHASERS WOULD BE REQUIRED TO PAY STAMP

ALL SALE AND DUTY, ON AN

VALOREM SLIDING SCALE, ON AD AGREEMENTS IN RESPECT OF RESIDENTIAL PROPERTY.

PURCHASE

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