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WEDNESDAY, FEBRUARY 24, 1993

ALSO, IN THOSE VOLUNTARY LIQUIDATIONS WHERE THERE ARE LESS THAN 20 EMPLOYEES AND WHERE THE COMMISSIONER FOR LABOUR UNREASONABLE

CONSIDERS AND UNECONOMICAL TO PRESENT A PETITION FOR

IT PAYMENTS FROM THE FUND MAY BE MADE TO EMPLOYEES UNDER SECTION

WINDING UP, THE PRINCIPAL ORDINANCE.

18 OF

"IN 1992, SECTION 18 WAS INVOKED IN 56 CASES INVOLVING OF MORE THAN $600,000 TO 101 EMPLOYEES,

" MR CHAN NOTED.

PAYMENT

BILL

HE ALSO SAID THE GOVERNMENT WAS AWARE THAT PASSAGE OF THE WOULD RESULT IN A WIDER GAP BETWEEN THE PREFERENTIAL LIMITS OF PAYMENT UNDER THE COMPANIES ORDINANCE AND THE BANKRUPTCY ORDINANCE MAXIMUM PAYMENT LEVELS UNDER THE FUND.

LOSS

AS

AND THE

SUFFERING

ITS

GREATER PAYMENTS EMPLOYER'S OFFICIAL

"THIS DISCREPANCY WOULD RESULT IN THE FUND FINANCIAL

AS IT WOULD NOT BE ABLE TO HAVE TREATED

ALL PREFERENTIAL DEBTS UPON REALISATION OF THE ASSETS," HE SAID, ADDING THAT THE LABOUR DEPARTMENT AND THE RECEIVER'S OFFICE ARE LOOKING INTO THE MATTER.

"IF ANY PROPOSAL IS IDENTIFIED TO NARROW OR REMOVE THOSE EMPLOYEES WHO ARE AFFECTED BY VOLUNTARY LIQUIDATION MAY EQUAL PAYMENT FROM THE LIQUIDATOR AS AN ELIGIBLE APPLICANT PAYMENT FROM THE FUND,

MR CHAN SAID.

THE GAP,

RECEIVE RECEIVING

THE BILL, WHICH WAS PASSED BY THE LEGISLATIVE SEEKS TO RAISE THE MAXIMUM LIMIT ON THE AMOUNT OF EX-GRATIA PAYMENT TO COUNCIL TODAY, EMPLOYEES SHOULD THEIR EMPLOYERS BECOME INSOLVENT.

THE MAXIMUM EX-GRATIA PAYMENT IN RESPECT OF ARREARS HAS BEEN

OF RAISED

WAGES FROM $8,000 TO $18,000 PER APPLICANT RESPECT OF WAGES IN LIEU OF NOTICE FROM SEVEN DAYS' WAGES UP TO $2,000 AND THAT IN TO ONE MONTH'S WAGES UP TO $6,000.

MOTION TO SET UP ACCOUNT FOR EMSD WORKSHOP SERVICES PASSED

A RESOLUTION THAT PROPOSES TO SET UP A SPECIAL SUSPENSE ACCOUNT ΤΟ COVER ALL WORKSHOP SERVICES IN THE SERVICES DEPARTMENT (EMSD) WAS PASSED IN THE LEGISLATIVE COUNCIL TODAY ELECTRICAL AND MECHANICAL (WEDNESDAY).

THE ACCOUNT, WITH EFFECT FROM APRIL 1 THIS YEAR, AN EXISTING SUSPENSE ACCOUNT COVERING

SERVICES.

WILL REPLACE ONLY VEHICLE MAINTENANCE

IN ADDITION TO THE VEHICLES SECTION, THE EMSD

ITS MECHANICAL AND REFRIGERATION

PLANT SECTION, SECTION, AND THE

WORKSHOPS UNDER CONDITIONING SIGNALS SECTION.

OPERATES ELECTRICAL, TRAFFIC

OTHER

AIR-

AIDS

AND

/ALL WORKSHOP

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