The Business Registration Ordinance (Amendment of Schedule 2) Order 2013 (Order) has come into operation on 19 July 2013.
Under the Order, the rate of Business Registration Certificate levy which finances the Protection of Wages on Insolvency Fund (the Fund) is reduced from $450 per annum to $250 per annum with effect from 19 July 2013.
The new rate is applicable to: (1) business registration certificates to be issued on simultaneous business registration applications if the related incorporation applications are made on or after 19 July; and (2) for other cases, business/branch registration certificates beginning on or after 19 July.
The Fund provides to employees whose employers become insolvent ex gratia payment which covers wages, wages in lieu of notice, severance payment, pay for untaken annual leave and untaken statutory holidays. It is financed by a levy on each BRC or branch registration certificate issued under the Business Registration Ordinance.
Enquiry telephone of Labour Department: