Hong Kong Ordinances

EDUCATION ORDINANCE - SECT 85

Rules for provident funds

(Past version on 30/06/1997).

Adaptation amendments retroactively made - see 55 of 2000 s. 3

(1) For the purpose of maintaining any provident fund (whether established
before or after the commencement of this Ordinance) for the benefit of
teachers employed by schools to which grants in aid or subsidies are made by
the Government, the Chief Executive in Council may make rules providing for-
(Amended 55 of 2000 s. 3)

   (a)  the objects and method of control and management and investment of
        such fund;

   (b)  the persons or classes of persons who shall be eligible for membership
        of such fund, and the persons or classes of persons who shall be
        compulsory contributors to such fund;

   (c)  contributions to such fund, and the method of payment;

   (d)  the method of dealing with any contribution which may be made by the
        Government to such fund;

   (e)  the constitution of a reserve fund to meet fluctuations in the value
        of investments, and for the allocation to a reserve fund of any
        investment income of the provident fund;

   (f)  the method of, conditions precedent for, and authority for withdrawals
        and benefits, and the permissible amount of withdrawals and benefits;

   (g)  the appointment of any trustees who may be considered necessary, and
        the powers and duties of the trustees; and

   (h)  generally for the purpose of the maintenance of such fund.

(2) Such sums as may be necessary to meet the contributions payable by the
Government to any provident fund in accordance with rules made under
subsection (1) shall be met from moneys provided by the Legislative Council.

(3) Subject to any rules made under subsection (1), no contribution or
donation to or dividend or interest on a dividend from a provident fund shall
be assignable or transferable or liable to be attached, sequestered or levied
upon, for or in respect of any debt or claim whatsoever. (Amended 72 of 1971
s. 3)