TNAG-0452-FCO40-517-Legislation-for-employment-of-workers-in-Hong-Kong-1974 — Page 182

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(c) in subsection (3A) by deleting "and (c)" and

substituting the following

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', (c) and (ca)".

Explanatory Memorandum

This Bill amends the Companies Ordinance to

provide for the priority of severance payments payable

under the Employment Ordinance.

In the event of the winding-up of the employing

company, severance payments due shall enjoy the same priority afforded to outstanding wages and salary

subject to a maximum amount of $6,000 in respect of

each severance payment.

די

!

..

Attorney General.