Hong Kong Ordinances

OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE - SECT 12

Withdrawal of exemption certificate

(1) The Registrar may withdraw an exemption certificate if, after considering
representations or objections made during the period set out in a notice
published under section 11(2), he is satisfied that-

   (a)  for an exempted scheme under section 7(4)(a)-

        (i)    the scheme has ceased to be registered or approved as mentioned
               in section 7(4)(a); or

        (ii)   the relevant authority has ceased to perform functions that are
               generally analogous to the functions conferred on the Registrar
               by this Ordinance;

   (b)  for an exempted scheme under section 7(4)(b) or (c), more than 10% or
        50 of the members of the scheme, whichever is less, are Hong Kong 
        permanent identity card holders;

   (c)  the requirement of section 9(3) is not complied with for the scheme;
        or

   (d)  the requirement of section 10(1)(b) is not complied with for the
        scheme. (Replaced 53 of 1995 s. 8)

(2) Where the Registrar withdraws an exemption certificate, he shall- (Amended
53 of 1995 s. 8)

   (a)  publish a notice of the withdrawal in at least one newspaper in the
        English language and one in the Chinese language circulating daily in
        Hong Kong; and

   (b)  give a notice in writing of the withdrawal to the relevant  employer
        of the scheme requiring him to- (Amended 53 of 1995 s. 8)

        (i)    cause a copy of the notice to be sent to each member of the
               scheme who is the holder of an identity card within the meaning
               of the Registration of Persons Ordinance ( Cap 177); or

        (ii)   display an appropriate notice of the Registrar's notice and
               make the latter available for inspection by such member.

(3) A notice published or given by the Registrar under subsection

(2) shall-

   (a)  state the decision of the Registrar;

   (b)  state that appeal against the withdrawal may be made to the
        Appeal Board within 2 months after the date of the notice; and

   (c)  state the date on which the withdrawal will come into effect.

(4) An employer who fails to comply with a requirement under subsection (2)(b)
commits an offence and shall be liable on summary conviction to a fine of
$10000. (Enacted 1992)