【法规名称】
【法规编号】 79955 什么是编号？
【正 文】
第2页 CAP 380 PROTECTION OF WAGES ON INSOLVENCY ORDINANCE
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[接上页] (1) There is hereby established a board to be known as the Protection of Wages on Insolvency Fund Board and in the Chinese language as "破产欠薪保障基金委员会" which shall be a body corporate. (2) The Board shall consist of a Chairman appointed under the Schedule and not more than 10 members appointed by the Chief Executive as follows- (Amended 54 of 2000 s. 3) (a) subject to paragraph (b) not more than 4 public officers; (b) equal numbers of persons who, in his opinion, represent employers and persons who, in his opinion, represent employees.(3) The Chief Executive shall give notice of each appointment by notice in the Gazette. (Amended 54 of 2000 s. 3) (4) The Schedule shall have effect with respect to the Board. (Enacted 1985) Cap 380 s 4 Functions and powers of the Board Remarks: Adaptation amendments retroactively made - see 54 of 2000 s. 3 (1) The Board shall have the following functions- (a) to administer the Fund; (b) to make recommendations to the Chief Executive with respect to the rate of levy; and (Amended 54 of 2000 s. 3) (c) to perform such other duties as are imposed or other powers as are conferred on it by this Ordinance.(2) The Board may do all such things as are necessary for, or incidental or conducive to, the better carrying out of the functions of the Board and may in particular, but without prejudice to the generality of the foregoing- (a) hold, acquire or lease all kinds of property whether movable or immovable; (b) sell or otherwise dispose of all kinds of property whether movable or immovable; (c) subject to section 10, invest its funds in such manner and to such extent as it thinks necessary or expedient; and (d) with the prior consent of the Financial Secretary, borrow money in such manner and on such securities or terms as it thinks expedient. (Enacted 1985) Cap 380 s 5 Board to be subject to directions of the Chief Executive in Council Remarks: Adaptation amendments retroactively made - see 54 of 2000 s. 3 The Chief Executive in Council may give to the Board such directions as he thinks fit with respect to the exercise of its functions under this Ordinance and the Board shall comply with any such direction. (Enacted 1985. Amended 54 of 2000 s. 3) Cap 380 s 6 Establishment of Protection of Wages on Insolvency Fund PART III FUND The fund known as the Protection of Wages on Insolvency Fund established under the provisions of section 21 of the Business Registration Ordinance (Cap 310) in force immediately before the commencement of this Ordinance shall be deemed to be established and continue in existence under this section, and shall consist of- (a) moneys that are paid by the Commissioner of Inland Revenue under that section whether paid before or after the commencement of this Ordinance; (b) moneys recovered under Part VI; (c) interest and other income derived from the moneys and investments comprising the Fund; and (d) other moneys lawfully paid into the Fund. (Enacted 1985) Cap 380 s 7 Payments from the Fund There shall be paid from the Fund the following- (a) payments to applicants under section 16; (b) expenses incurred by the Board for the purposes of this Ordinance; (c) capital, interest and charges in respect of any loan; and (d) any other sums required or permitted to be paid by the Fund under this Ordinance. (Enacted 1985) Cap 380 s 8 Financial year and estimates Remarks: Adaptation amendments retroactively made - see 54 of 2000 s. 3 PART IV FINANCIAL PROVISIONS (1) The Board may, from time to time, with the prior approval of the Chief Executive, fix a period to be the financial year of the Fund. (2) In each financial year, before a date to be fixed by the Chief Executive, the Board shall submit to the Chief Executive, for his approval, estimates of the income and expenditure of the Fund for the next financial year: Provided that the estimates for the first financial year of the Fund shall be submitted as soon as practicable after the commencement of this Ordinance. (3) The Chief Executive shall consider the estimates submitted to him under subsection (2) and may approve or reject them and, in the case of rejection, may require the Board to resubmit the estimates modified in such manner and within such time as the Chief Executive may direct. (4) The Board may, from time to time, vary the estimates approved under subsection (3) and shall, as soon as practicable, deliver to the Chief Executive a statement in writing containing details of any variation. (Enacted 1985. Amended 54 of 2000 s. 3) Cap 380 s 9 Bank account The Board shall open and maintain an account with a bank approved by the Financial Secretary and shall pay all moneys of the Fund into that account. (Enacted 1985) Cap 380 s 10 Investment of moneys All moneys of the Fund that are not immediately required by the Board may be- (a) deposited on fixed term or call deposit or in a savings account in any bank within the meaning of section 2 of the Banking Ordinance (Cap 155); or (Amended 49 of 1995 s. 53) |
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