XN000022-1995-08-04 — Page 4

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Mandatory Provident Fund Schemes Ordinance gazetted

The ordinance which provides for the establishment of non-government mandatory provident fund schemes was gazetted today (Friday).

A government spokesman reiterated that the MPF Schemes Ordinance was only enabling legislation outlining the main features of the MPF system and that it would not be brought into operation until the subsidiary rules and regulations were in place.

"It is Government's plan to bring together the relevant subsidiary legislation in about two years' time," he said, adding that the MPF Schemes Ordinance has yet to be brought into effect.

Meanwhile, the spokesman stated that voluntarily established occupational retirement schemes will continue to be regulated under the Occupational Retirement Schemes Ordinance (ORSO). He reminded employers operating occupational retirement schemes to apply to the Registrar for registration or exemption of their schemes before October 15, 1995.

Under the MPF Schemes Ordinance, members of registered ORSO schemes, whether defined benefit or defined contribution schemes, would be exempt if they satisfied requirements specified in the regulations to be made under the Ordinance.

End/Friday, August 4, 1995

Seven more nominations of LegCo candidates

Seven nominations of candidates for the Legislative Council Elections in September were received today (Friday).

They were Mrs Chow Liang Shuk-yee, Selina, for the Wholesale and Retail functional constituency; Mr Tang Ying-yen, Henry, for the Import and Export functional constituency; Mrs Lau Kin-yee, Miriam, for the Transport and Communication functional constituency; Mr Chan Ming-yiu for the Manufacturing functional constituency; Mr Ting Yin-wah for the New Territories South-west; and Mr Tse Wing-ling, John, and Mr Cheung Bing-leung for the Election Committee constituency.