XN000022-1993-08-10 — Page 4

TUESDAY, AUGUST 10, 1993

3

DAYS,

WE

"DUE TO THE ROBUST TURNOVER IN THE PAST FEW TRADING ARE QUICKLY MOVING TOWARDS THE CIRCUMSTANCES CALLING FOR A SUSPENSION OF THE SPECIAL LEVY.

"THE CURRENT FORECAST SHOWS THAT AFTER A FEW TRADING DAYS, THE SPECIAL LEVY WILL HAVE COME TO THE END OF ITS USEFUL LIFE, MR CARTLAND SAID.

SALE KONG

THE EXISTING RATE OF THE SPECIAL LEVY IS 0.03% FOR EACH OR PURCHASE OF SECURITIES RECORDED ON THE STOCK EXCHANGE OF HONG LTD AND $5 PER LEVIABLE TRANSACTION IN THE INDEX MARKETS OF

THE HONG

KONG FUTURES EXCHANGE LTD.

THESE WILL CEASE TO BE PAYABLE AFTER THE CLOSE OF TRADING IN THE TWO EXCHANGES THIS FRIDAY, ON WHICH DAY A SUSPENSION ORDER TO THIS EFFECT MADE BY THE SECRETARY FOR FINANCIAL SERVICES WILL BE PUBLISHED IN THE GAZETTE. THE OUTSTANDING LOAN WILL THEN BE REPAID BY RECOVERIES FROM DEFAULTERS.

"THE SUSPENSION IS REQUIRED TO AVOID A SUBSTANTIAL AND UNNECESSARY SURPLUS UPON THE FULL REPAYMENT OF THE LIFEBOAT LOAN IF THE SPECIAL LEVY IS MAINTAINED, MR CARTLAND SAID.

"I

"THE SUSPENSION OF SPECIAL LEVY CLEARS UP THE LAST ISSUE LEFT OVER FROM THE 1987 MARKET CRASH WHICH CAN REGARDED AS A MATTER OF HISTORY," MR CARTLAND ADDED.

0

OUTSTANDING FINALLY BE

LOAN SCHEME FOR EMPLOYEES INJURED OR DIED AT WORK

A SCHEME TO PROVIDE INTEREST-FREE LOANS NOT EXCEEDING $15,000 IN EACH CASE TO EMPLOYEES INJURED AT WORK AND DEPENDANTS OF EMPLOYERS WHO DIE AS A RESULT

WORK-RELATED ACCIDENTS HAS NOW COME INTO OPERATION.

OF

OF THE LOAN SCHEME, WHICH IS FUNDED BY A GOVERNMENT ALLOCATION

ADMINISTERED $10 MILLION AND

BY THE LABOUR DEPARTMENT, AIMS AT PROVIDING TEMPORARY RELIEF FOR VICTIMS OF WORK-RELATED ACCIDENTS AND THEIR DEPENDANTS, A LABOUR DEPARTMENT SPOKESMAN SAID TODAY (TUESDAY).

UNDER THE EMPLOYEES' COMPENSATION ORDINANCE, EMPLOYEES INJURED AT WORK AND DEPENDANTS OF DECEASED EMPLOYEES ARE ENTITLED TO RECEIVE COMPENSATION FROM THE EMPLOYERS, HE SAID.

OF HOWEVER, THIS GROUP

PEOPLE MAY FACE FINANCIAL HARDSHIP

WHILE THEY ARE WAITING FOR PAYMENT OF COMPENSATION.

COMPENSATION

TO APPLY FOR THE LOAN, AN INJURED EMPLOYEE OR A DEPENDANT OF

THE DECEASED EMPLOYEE SHOULD APPROACH THE RESPECTIVE BRANCH OFFICE OF LABOUR DEPARTMENT'S EMPLOYEES'

DIVISION (ECD) WITHIN FOUR MONTHS OF THE EMPLOYER'S REFUSAL TO PAY PERIODICAL PAYMENT OR THE DEATH OF THE EMPLOYEE, AS THE CASE MIGHT BB, THE SPOKESMAN EXPLAINED.

OF

/THE APPLICANTS