Legislative Proposal and Timetable of the Policyholders’ Protection Fund

The Deputy Chairman [KP Chan] asked when the Administration would announce the legislative proposal for introduction of the Policyholder’s Protection Fund (PPF), and what the legislative timetable was. SFST said that an actuarial consultancy study was underway which involved compilation and analysis of voluminous actuarial data. Meanwhile, the Administration had actively engaged the insurance sector in working out the detailed proposals. The Administration aimed to formulate proposals by the end of 2010 or soon thereafter for consultation.

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