Hong Kong Ordinances

OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE - SECT 23

Cessation of application of pooling agreement

(1) A pooling agreement shall not cease to apply to a registered  scheme
unless the Registrar has given his prior consent in writing.

(2) A pooling agreement shall, notwithstanding any term of it, be construed
and have effect as if it was made subject to subsection (1).

(3) The Registrar may give consent referred to in subsection (1) on an
application in writing made to him by the administrator of the relevant
pooling agreement or the relevant employer of the relevant registered  scheme.

(4) Where a pooling agreement ceases to apply to a registered  scheme, the
administrator of the scheme shall within 14 days inform the Registrar in
writing of such cessation.

(5) Where a registered scheme is a participating scheme of a pooling agreement
upon its registration, the registration shall cease to have effect upon the
cessation of application of that agreement to the scheme.

(6) Any person who contravenes subsection (4) commits an offence and shall be
liable on summary conviction to a fine of $10000. (Enacted 1992)