XN000022-1995-07-27 — Page 32

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Government has always agreed that there will be full consultation with Members of this Council when drawing up subsidiary legislation on the MPF. To reflect this, I am moving the amendment as set out in para (a) of my amendments to clause 44(1) and shall add clause 44(1A) to the Bill to the effect that all subsidiary legislation made under clause 44 should be made by positive resolution in the Legislative Council in accordance with clause 35 of the Interpretation and General Clauses Ordinance until such time as clause 6 of this Bill, which requires employers to arrange registered schemes for their employees, and the self-employed to make parallel arrangements, is brought into operation in its entirety.

It is our every intention to have all the subsidiary Legislation in place before triggering off the commencement of Clause 6. Furthermore, I should like to emphasise that not only would it be impossible for the Bill to be brought into effect until the relevant items of subsidiary legislation were in place, but also we would not want to take such a step in any case.

Mr Chairman,

As I have already indicated when moving the amendment to this clause indicated under my name, we are happy to submit all regulations made under clause 44, prior to the commencement of clause 6 in its entirety, for the approval of this Council by resolution. We believe it would be superfluous to extend that power beyond that time. The Official Members will therefore vote against the Bills Committee's amendment, and I urge Members to do likewise.

Clauses 44(1) and 44(2)

Regulations

Mr Chairman, I move the amendments as set out in paras. (b), (c) and (d) of my amendments to sub-clause (1) of clause 44 and the amendment to sub-clause (2) of clause 44 indicated under my name in the paper circulated to Members.

Two technical amendments are proposed to clause 44(1)(c) to extend its coverage to all kinds of withdrawal of accrued benefits. Another technical amendment to sub-clause (1)(g) is made so that regulations may be made to provide for the approval of a trustee as an approved trustee.