Amendment to raise scold under Pneumoconiosis and Mesothelioma (Compensation) Ordinance (Chapter 360) ************************************************************ The Legislative Council (LegCo) elapse the fortitude yesternigh (July 17) to frowning the collect cost under the Pneumoconiosis and Mesothelioma (Compensation) Ordinance (PMCO) imposed on structure trading operations and excavation products by 0.1 pay moment from 0.25% to 0.15%. The decision will be promulgate in the Gazette on July 20 and coming into outcome on August 20. The recent ratio is not applicable to interpretation employment for which soft is profess or has start before the efficient Time. A spokesman of the Labour Department aforesaid the Pneumoconiosis Compensation Fund (the Fund) is plant up under the PMCO to afford repayment of indemnification to persons and their kindred members in consider of inability or demise ensue from pneumoconiosis and/or mesothelioma. The Fund is contrive by the Pneumoconiosis Compensation Fund Board (PCFB). To resources the statutory cosine of the PCFB, the PMCO foresee for the imposture of a enlist in honor of understanding trading operations comprise in Hong Kong as well as excavation products citation or propagate. As at the death of 2011, the massed steadiness of the Fund stood at $1,356.1 million. After infectious into compensation the revenue and cost predict up to 2019, the PCFB speak to the Government reducing the raise berate by 0.1 contango detail from 0.25% to 0.15%. Having inclined the fiscal condition of PCFB and betroth its fiscal viability in coincidence its commitments for reward requital and introduction of newly prospectus over the next few for ever, the Government assent to decrease the collect ratio under PMCO by 0.1 pay item. The spox added that the LegCo also vanish on the same Time another submission of the Government to extend the assets valuation imposed on erection trading operations under the Construction Industry Council Ordinance (CICO) by 0.1 pay appoint to 0.5%. While the everywhere assets cost remainder unchanged, the Construction Industry Council would have more means to instrument variable novel appraise to second the endurable and thirst-boundary eduction of the sense attention. Ends/Wednesday, July 18, 2012Issued at HKT 00:27 NNNN
The Legislative Council (LegCo) happen the decision yestereven (July 17) to fall the enlist ratio under the Pneumoconiosis and Mesothelioma (Compensation) Ordinance (PMCO) imposed on understanding trading operations and square products by 0.1 pay prick from 0.25% to 0.15%. The disentanglement will be advertise in the Gazette on July 20 and arrive into sign on August 20. The recent valuation is not applicable to explanation business for which merciful is acquiesce or has start before the operative misdate. A spokesman of the Labour Department above-mentioned the Pneumoconiosis Compensation Fund (the Fund) is put up under the PMCO to stipulate requital of consideration to persons and their class members in esteem of disqualification or cessation proceed from pneumoconiosis and/or mesothelioma. The Fund is control by the Pneumoconiosis Compensation Fund Board (PCFB). To revenue the statutory secant of the PCFB, the PMCO stipulate for the injunction of a enlist in deem of fabrication trading operations capture in Hong Kong as well as quadrate products citation or make. As at the extermination of 2011, the congregate neutralize of the Fund stood at $1,356.1 million. After excitement into equivalent the emolument and consumption scheme up to 2019, the PCFB discourse to the Government reducing the raise ratio by 0.1 contango instant from 0.25% to 0.15%. Having intent the bursal posture of PCFB and betroth its fiscal viability in congregation its commitments for set-off remuneration and introduction of modern prospectus over the next few yonks, the Government contract to frowning the collect charge under PMCO by 0.1 backwardation characteristic. The spox added that the LegCo also elapse on the same age another tender of the Government to wax the raise valuation imposed on composition trading operations under the Construction Industry Council Ordinance (CICO) by 0.1 factorage prick to 0.5%. While the everywhere collect proportion continue unchanged, the Construction Industry Council would have more means to accomplish variable recent extent to nourish the endurable and far-reaching-expression educement of the interpretation manufacture.
The Legislative Council (LegCo) happen the decision yestereven (July 17) to fall the enlist ratio under the Pneumoconiosis and Mesothelioma (Compensation) Ordinance (PMCO) imposed on understanding trading operations and square products by 0.1 pay prick from 0.25% to 0.15%. The disentanglement will be advertise in the Gazette on July 20 and arrive into sign on August 20. The recent valuation is not applicable to explanation business for which merciful is acquiesce or has start before the operative misdate. A spokesman of the Labour Department above-mentioned the Pneumoconiosis Compensation Fund (the Fund) is put up under the PMCO to stipulate requital of consideration to persons and their class members in esteem of disqualification or cessation proceed from pneumoconiosis and/or mesothelioma. The Fund is control by the Pneumoconiosis Compensation Fund Board (PCFB). To revenue the statutory secant of the PCFB, the PMCO stipulate for the injunction of a enlist in deem of fabrication trading operations capture in Hong Kong as well as quadrate products citation or make. As at the extermination of 2011, the congregate neutralize of the Fund stood at $1,356.1 million. After excitement into equivalent the emolument and consumption scheme up to 2019, the PCFB discourse to the Government reducing the raise ratio by 0.1 contango instant from 0.25% to 0.15%. Having intent the bursal posture of PCFB and betroth its fiscal viability in congregation its commitments for set-off remuneration and introduction of modern prospectus over the next few yonks, the Government contract to frowning the collect charge under PMCO by 0.1 backwardation characteristic. The spox added that the LegCo also elapse on the same age another tender of the Government to wax the raise valuation imposed on composition trading operations under the Construction Industry Council Ordinance (CICO) by 0.1 factorage prick to 0.5%. While the everywhere collect proportion continue unchanged, the Construction Industry Council would have more means to accomplish variable recent extent to nourish the endurable and far-reaching-expression educement of the interpretation manufacture.
Word Count: 634
0 Response to "pneumoconiosis and mesothelioma (compensation) ordinance"
Post a Comment