Hong Kong Ordinances

OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE - SECT 41

Release from submission

(1) A person who has made a submission described in paragraph 3 of Part 3 of
Schedule 1 may apply in writing to the Registrar to release him from the
submission and substitute for it a submission by another person.

(2) Where a person makes an application under subsection (1) in respect of a
registered scheme and he is for the time being the only person who made the
submission in respect of the scheme, the Registrar shall not allow the
application unless-

   (a)  the application is accompained by a submission described in paragraph
        3 of Part 3 of Schedule 1 and relating to the same scheme; and

   (b)  the Registrar is satisfied that the submission is in an appropriate
        form and the person proposing to make the submission is a suitable
        person to make it.

(3) Where the Registrar allows an application made under subsection

(1) relating to a registered scheme, the submission which accompained the
application shall thenceforth, as regards the scheme, for the purposes of this
Ordinance take the place of the submission accepted by the Registrar when the
application for registration of such scheme was allowed or, in case the
applicant is one of the persons who made the original submission, take the
place of such submission to the extent it was made by the applicant. (Enacted
1992)