Hong Kong Ordinances

OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE - SECT 38

New trustee to give undertaking

Where any person-

   (a)  who-

        (i)    (in the case of an individual) is ordinarily resident in Hong
               Kong and is the holder of an identity card within the meaning
               of the Registration of Persons Ordinance ( Cap 177); or

        (ii)   (in the case of a body corporate) has a place of business in
               Hong Kong; and

   (b)  who has not given an undertaking which is in force for the time being
        as regards a registered scheme governed by a trust, is appointed as a
        trustee of the trust, he shall within 28 days after such appointment
        send to the Registrar an undertaking stating that he undertakes to
        perform in relation to the scheme the functions imposed or conferred
        on a designated person by this Ordinance. (Enacted 1992)