XN000022-1995-07-27 — Page 10

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MPF Bill: motion to adjourn second reading

Following is the speech by the Secretary for Education and Manpower, Mr Michael Leung, on a motion to adjourn the second reading debate of the Mandatory Provident Fund Schemes Bill in the Legislative Council today (Thursday):

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Mr President,

Today should be a joyous occasion for the workforce of Hong Kong. It should be the day when employees and the self-employed receive what they have seeking for so long- the certainty of financial security upon retirement. Instead, they are facing the last minute uncertainty of not knowing whether debate on this Bill will be able to continue. If this is frustrating for them, and it is certainly frustrating for us and all those who have the genuine welfare of workers at heart. If they can't understand the reasons for some Members to propose adjourning this debate, they are not alone in Hong Kong.

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Members of this Council are fully aware that this Bill is essentially an enabling one. That is not to say it is a hollow shell, as claimed by some. What it does is to provide a framework for the subsidiary legislation, which will set out the details of how the system will be regulated. Members will be by now quite familiar with the main provisions of this Bill. These have been described on a number of occasions since the motion debate on 8 March this year. It is fair to say that there are no surprises in the Bill. The subsidiary law will be the subject of further detailed consultation with Members of this Council and all sectors of the community over a longer time-frame.

In their perhaps misguided enthusiasm to bring a debate on this Bill to a premature stop, at least for the current session, some Members may well have overlooked the reasons why we are here today with this particular piece of legislation. This is not simply a case, as perceived by some, of the Administration pushing forward a Bill on its own volition and for no other reason. Let me refresh Members' memories on the history of this subject. Perhaps as far as I can briefly.

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