Most Read Contributor in Hong Kong, September 2016
Originally published July 4, 2011
Keywords: protection of wages, insolvency fund,
The Fund provides monetary relief to employees when their
employers become insolvent. Currently, employees of insolvent
employers may apply to the Fund for ex-gratia payment of sums owed
to them by their employers under the heads of wages, wages in lieu
of notice and severance payment.
The Government is seeking to amend the Protection of Wages on
Insolvency Ordinance (Cap. 380) so that the coverage of the Fund
would be expanded to cover pay for untaken annual leave and untaken
statutory holidays under the Employment Ordinance (Cap. 57). The
amount claimed under these two heads would be subject to a ceiling
The Protection of Wages on Insolvency (Amendment) Bill 2011 was
gazetted on 30 June 2011 and will be presented to the Legislative
Council on 13 July 2011.
Mayer Brown is a global legal services organization
comprising legal practices that are separate entities (the Mayer
Brown Practices). The Mayer Brown Practices are: Mayer Brown LLP, a
limited liability partnership established in the United States;
Mayer Brown International LLP, a limited liability partnership
incorporated in England and Wales; Mayer Brown JSM, a Hong Kong
partnership, and its associated entities in Asia; and Tauil &
Chequer Advogados, a Brazilian law partnership with which Mayer
Brown is associated. "Mayer Brown" and the Mayer Brown
logo are the trademarks of the Mayer Brown Practices in their
This article provides information and comments on legal
issues and developments of interest. The foregoing is not a
comprehensive treatment of the subject matter covered and is not
intended to provide legal advice. Readers should seek specific
legal advice before taking any action with respect to the matters
discussed herein. Please also read the JSM legal publications
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
On the 9 September 2016 the MFSA issued feedback to its consultation of the 1 April 2016 in relation to intra-group loans.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).