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On the legislative timetable, Mr Leung said Government's aim remained unchanged, i.e. to introduce the MPF System Bill into the Legislative Council in June and to have the Bill enacted before the end of the current session in July.
"But this is only the beginning of the process. The primary legislation only provides for the enabling provisions. It does not commit us yet to the final shape of the system to be launched.
"A number of detailed and more complex issues will still need to be discussed, before these can be included in the subsidiary legislation," he said.
Noting concerns expressed in some quarters over government regulation, Mr Leung said the Government had made its intention clear from the start of the exercise that it did not want to and would not over regulate.
said.
"Neither is it our intention to disrupt the many good schemes in existence," he
He reiterated the importance of ensuring a proper balance between what was necessary to protect the interests of scheme members while, at the same time, making sure that the Administration would not stifle the ability of the industry to maximise investment returns.
LegCo Members, interested organisations and individuals are welcomed to express views on the issues raised in the report.
Legislative Councillors would be able to examine and debate the Bill when it was introduced into LegCo.
"There will be more time for public consultation on the detailed issues in the subsidiary legislation in the months ahead," Mr Leung said.
Copies of the Report of the Consultancy on the Mandatory Provident Funds System, jointly prepared by Hewitt Associates LLC and GML Consulting Ltd, and the executive summary will be sent to those organisations and individuals who have expressed an interest in the issue.
Members of the public may obtain copies of the executive summary from District Offices of the Home Affairs Department from tomorrOW.
End/Friday, May 5, 1995
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