When the Mandatory Provident Fund Schemes Ordinance and its subsidiary legislation were enacted in 1995 and 1998 respectively, there was thorough discussion on the offsetting arrangement. The views of employer and labour union representatives were very different in this regard but the arrangement provided under the existing legislation is the result of protracted discussions and has balanced the interests of employers and employees.
2. I fully appreciate the sentiment expressed by the Hon CHAN Kam-lam and the Hon LEE Cheuk-yan regarding the existing offsetting arrangement. However, we must respect the agreement reached. We are prepared to review the arrangement at an appropriate juncture after the full implementation of the MPF System.
3. Madam President, the amendment we are proposing in this Bill is purely technical in nature. It does not concern or touch upon the overall offsetting policy. It is necessary to plug an existing loophole in the Ordinance. I urge that Members approve the Bill as soon as possible.
Third Reading of the Employment (Amendment) Bill 2001
The Employment (Amendment) Bill 2001 has passed through Committee without amendment. I move that the Bill be read the third time and do pass.