MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - CHAPTER 485 MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - LONG TITLE Long title VerDate: An Ordinance to provide for the establishment of non-governmental mandatory provident fund schemes for the purpose of funding benefits on retirement, to provide for contributions to such schemes, to provide for the registration of such schemes, to provide for a regulatory regime in respect thereof, to provide for the creation of a Mandatory Provident Fund Schemes Authority to oversee the administration and management of registered schemes, to exempt certain classes of persons from contributing to registered schemes, to provide for the approval of persons (other than public officers or statutory corporations) as trustees of registered schemes, to provide for the control and regulation of approved trustees, and to make consequential amendments to other Ordinances including pension related Ordinances, and for connected purposes. Note: This Ordinance was originally enacted as Ord. No. 80 of 1995 and had been amended, before its commencement, by Ord. No. 4 of 1998 and other legislation. The commencement dates of all provisions contained in the consolidated version of the original Ordindance as amended by Ord. No. 4 of 1998 are as follows - [Sections 1 to 3, 6 to 6H and 6R to 6T, and Schedules 1A and 1B } 24 July 1998 L.N. 292 & 293 of 1998 Sections 6I, 6K to 6Q, 17, 46 to 47A and 48 } 12 March 1999 L.N. 68 & 70 of 1999 Sections 6J, 20 to 22B, 24 to 33B, 35 to 43A, 43D to 45G and 47B, and Schedules 5 and 5A, Schedule 6 (except paragraph 14) and Schedule 8 } } } 3 August 1999 L.N. 68 & 70 of 1999 Sections 5, 5A and 6U to 6W, and paragraph 14 of Schedule 6 } 3 January 2000 L.N. 68 & 70 of 1999 Sections 4, 7 to 16, 17A to 19, 23, 34 to 34C, 43B, 43C and 49, and Schedules 1, 2 to 4, 7 and 9 } } 1 December 2000 L.N. 119 & 120 of 2000] (Originally 80 of 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 1 Short title VerDate:01/12/2000 PART I PRELIMINARY (1) This Ordinance may be cited as the Mandatory Provident Fund Schemes Ordinance. (2) (Omitted as spent) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 1 Short title and commencement VerDate:24/07/1998 PART I PRELIMINARY (1) This Ordinance may be cited as the Mandatory Provident Fund Schemes Ordinance. (2) This Ordinance shall come into operation on a day to be appointed by the Chief Executive by notice in the Gazette, and different days may be so appointed for different provisions and for different purposes. (Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 2 Interpretation VerDate:01/12/2008 (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算權益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, including sums derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; (Amended 2 of 2002 s. 2) "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (諮詢委員會) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上訴委員會) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (學徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受託人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "arrears" (欠款) means a mandatory contribution that is due for payment to the Authority under section 7AE or 18; (Added 1 of 2008 s. 59. Amended 18 of 2008 s. 4) "associate" (有聯繫者), in relation to a natural person referred to in paragraph (d) of the definition of "controller" or a company or other body corporate, means a person specified in Schedule 8; (Amended 18 of 2008 s. 26) "associated company" (有聯繫公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (獲授權人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (臨時僱員) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer" (行政總裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近親), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2) "company" (公司)- (a) means- (i) a company within the meaning of the Companies Ordinance (Cap 32); or (ii) a non-Hong Kong company; (Amended 30 of 2004 s. 3) (b) includes a corporation in the case of- (i) the definitions of "associated company", "chief executive officer", "controller", "officer", "share" and "voting share"; and (ii) the provisions of section 44(1), section 7(2) of Part 2 of Schedule 1A and Schedule 8; (Replaced 2 of 2002 s. 2) "compensation fund" (補償基金) means the compensation fund established in accordance with section 17; (Added 4 of 1998 s. 2) "conditions" (條件) means reasonable conditions; (Added 2 of 2002 s. 2) "contract of employment" (僱傭合約) has the same meaning as in the Employment Ordinance (Cap 57), and "employment" (僱用、受僱) shall be construed accordingly; "contribution account" (供款帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A); (Added 29 of 2002 s. 2) "controller" (控權人), in relation to a company, means any of the following persons- (a) the directors of the company; (b) a person in accordance with whose instructions those directors are accustomed to act; (c) the chief executive officer of the company; (d) a natural person who, alone or together with an associate, a close relative or an employee of the person, or a company of which the person is a director, or through a nominee, controls at least 15 per cent of the voting shares of the company; (Amended 18 of 2008 s. 26) (e) another company that, alone or with any associate, or any employee of an associate, of that other company, or through a nominee, controls at least 15 per cent of the voting shares of the first-mentioned company; (Added 4 of 1998 s. 2) "corporation" (法團) means a body corporate which is incorporated in a place outside Hong Kong and is not a non-Hong Kong company; (Added 2 of 2002 s. 2. Amended 30 of 2004 s. 3) "Court" means the Court of First Instance; (Added 4 of 1998 s. 2) "employee" (僱員) has the same meaning as in the Employment Ordinance (Cap 57), other than a person excluded by section 4(2) of that Ordinance, and includes an apprentice and a former employee; "employer" (僱主) means any person who has entered into a contract of employment to employ another person as his employee; "employer sponsored scheme" (僱主營辦計劃) means a registered scheme membership of which is- (a) in the case of an employer who is not a company, open only to the employees of that employer; or (b) in the case of an employer that is a company, open only to the employees of that company or an associated company; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "exempt person" (獲豁免人士) means a person or class of persons construed in accordance with section 4; "functions" (職能) includes powers, authorities and duties; (Added 4 of 1998 s. 2) "governing rules" (管限規則), in relation to a registered scheme, means those rules and provisions contained in a trust instrument or other document relating thereto or that trust instrument and that other document taken together, and governing the establishment and operation of the registered scheme; "the guidelines" (指引) means guidelines issued under section 6H; (Added 4 of 1998 s. 2) "industry" (行業) includes a trade, profession, occupation or calling; (Added 4 of 1998 s. 2) "industry scheme" (行業計劃) means a provident fund scheme registered under section 21A; (Added 4 of 1998 s. 2) "Industry Schemes Committee" (行業計劃委員會) means the MPF Industry Schemes Committee established by section 6U; (Added 4 of 1998 s. 2) "Managing Director" (行政總監), in relation to the Authority, means the Managing Director appointed under section 6B, and includes any person appointed to act as Managing Director- (a) when that director is absent from Hong Kong or absent through illness or any other reason; or (b) when the office of Managing Director is vacant; (Added 4 of 1998 s. 2) "mandatory contribution" (強制性供款) means- (a) an amount that is required to be paid as a contribution to a registered scheme under section 7A or 7C; (Amended 18 of 2008 s. 4) (aa) an amount that is required to be paid as a contribution to the Authority under section 7AA; (Added 18 of 2008 s. 4) (ab) an amount that is payable to the Authority under section 7AE; or (Added 18 of 2008 s. 4) (b) minimum MPF benefits, to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B) applies, that have been transferred to a registered scheme; (Replaced 2 of 2002 s. 2) "master trust scheme" (集成信託計劃) means a registered scheme membership of which is open to- (a) the employees of more than one employer; and (b) self-employed persons and former self-employed persons; and (Amended 18 of 2008 s. 4) (c) (Repealed 18 of 2008 s. 4) (d) persons who, having benefits in an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B), wish to have those benefits transferred to the first-mentioned scheme, (Added 2 of 2002 s. 2) but does not include an industry scheme; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "maximum level of relevant income" (最高有關入息水平) means the level of relevant income specified in Schedule 3; (Replaced 4 of 1998 s. 2. Amended 18 of 2008 s. 4) "minimum level of relevant income" (最低有關入息水平) means the level of relevant income specified in Schedule 2; (Amended 4 of 1998 s. 2; 18 of 2008 s. 4) "minimum MPF benefits" (最低強制性公積金利益) has the same meaning as in section 1(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B); (Added 2 of 2002 s. 2) "non-Hong Kong company" (非香港公司) means a company to which Part XI of the Companies Ordinance (Cap 32) applies; (Added 4 of 1998 s. 2. Amended 30 of 2004 s. 3) "occupational retirement scheme" (職業退休計劃) has the same meaning as in the Occupational Retirement Schemes Ordinance (Cap 426); (Added 4 of 1998 s. 2) "officer" (高級人員), in relation to a company, means- (a) a director of the company; or (b) the chief executive officer of the company; (Added 4 of 1998 s. 2) "participating employer" (參與僱主) means the employer of employees who are members or prospective members of a registered scheme; (Added 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "personal representative" (遺產代理人) means- (a) a personal representative within the meaning of section 2 of the Probate and Administration Ordinance (Cap 10); or (b) where the Official Administrator gets in and administers an estate in a summary manner under section 15 of that Ordinance, the Official Administrator; (Added 1 of 2008 s. 40) "practicable" (切實可行) means reasonably practicable; (Added 29 of 2002 s. 2) "premises" (處所) includes any place and a part of premises or a place; (Added 4 of 1998 s. 2) "preserved account" (保留帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A); (Added 2 of 2002 s. 2) "provident fund scheme" (公積金計劃) means a scheme governed by a trust- (a) the terms of which are set out in one or more documents; and (Replaced 4 of 1998 s. 2) (b) that- (i) provides for the payment of pecuniary benefits to the members of the scheme when they reach the retirement age, or any other prescribed event occurs in relation to them; or (ii) in the case of members who die before reaching that age or before the occurrence of such an event, provides for the payment of those benefits to the personal representatives or beneficiaries of the estates of those members, (Replaced 4 of 1998 s. 2) and includes a proposed provident fund scheme; "record" (紀錄) means any record of information, however compiled, recorded or stored, and includes- (a) any book, a register and any other document containing information; and (b) any disc, tape or other article from which information is capable of being produced; (Added 4 of 1998 s. 2) "registered scheme" (註冊計劃) means a provident fund scheme registered under section 21 as an employer sponsored scheme or a master trust scheme or registered under section 21A as an industry scheme; (Replaced 4 of 1998 s. 2) "the regulations" (《規例》) means regulations made under section 46 and in force; (Added 4 of 1998 s. 2) "relevant employee" (有關僱員) means an employee of 18 years of age or over and below retirement age; "relevant income" (有關入息) means- *(a) in the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance, expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap 57); (Amended 1 of 2008 s. 56) (b) in the case of a self-employed person, income of that person as ascertained in accordance with the regulations; (Amended 4 of 1998 s. 2) "remuneration" (酬金) includes travel and subsistence allowances; (Added 4 of 1998 s. 2) "retirement age" (退休年齡), in relation to an employee or self-employed person, means 65 years of age or, if the regulations prescribe an earlier age, that earlier age; (Amended 4 of 1998 s. 2; 2 of 2002 s. 2) "the rules" (《規則》) means rules made under section 47 and in force; (Added 4 of 1998 s. 2) "scheme" (計劃) means a provident fund scheme; "scheme member" (計劃成員), in relation to a registered scheme, means a person who has a beneficial interest in the registered scheme; "self-employed person" (自僱人士) means a person whose relevant income (otherwise than in the capacity as an employee) derives from his production (in whole or in part) of goods or services in Hong Kong, or his trade in goods or services in or from Hong Kong; "service provider" (服務提供者), in relation to a provident fund scheme, means an investment manager, custodian of scheme assets or other person appointed or engaged by the trustee of the scheme to provide services for the purposes of the scheme, and includes a person to whom the provision of those services is delegated by such a manager, custodian or other person, but does not include a person appointed or so engaged as an auditor, solicitor or actuary; (Added 4 of 1998 s. 2) "share" (股份) means a share in the capital of a company, and includes the stock or any part of the stock of the company; (Added 4 of 1998 s. 2) "spouse" (配偶), in relation to a person, includes a person of the opposite sex with whom the person is cohabiting in a bona fide domestic relationship as man and wife; (Added 4 of 1998 s. 2) "subsidiary" (附屬公司) has the meaning assigned to it by section 2(4), (5) and (6) of the Companies Ordinance (Cap 32); (Added 1 of 2008 s. 51) "total incapacity" (完全喪失行為能力), in relation to a scheme member, means permanent unfitness to perform the kind of work that the member was last performing before becoming incapacitated; (Added 4 of 1998 s. 2. Amended 29 of 2002 s. 2) "trustee" (受託人) includes a prospective trustee; "voluntary contribution" (自願性供款) means a contribution paid to a registered scheme in accordance with section 11; (Added 4 of 1998 s. 2) "voting share" (有表決權股份), in relation to a company, means an issued share in the company that confers a right to vote, not being a right to vote that is exercisable only in one or more of the following circumstances- (a) during a period during which a dividend (or part of a dividend) in respect of the share is in arrears; (b) on a proposal by the company to redeem or purchase its own shares; (c) on a proposal by the company to reduce its share capital; (d) on a proposal that affects rights attached to the share; (e) on a proposal to wind up the company; (f) on a proposal for the disposal of the whole of the company's property, business and undertaking; (g) during the winding up of the company. (Added 4 of 1998 s. 2) "working day" (工作日) means any day other than- (a) a public holiday; (b) a gale warning day or black rainstorm warning day within the meaning of section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1). (Added 2 of 2002 s. 2) (Amended 4 of 1998 s. 2) (2) If relevant employees- (a) are engaged in an industry for which a provident fund scheme is registered as an industry scheme; and (b) employed in that industry by an employer on a day to day basis or for a fixed period of less than 60 days, the Authority may, by order published in the Gazette, declare those employees to be casual employees for the purposes of this Ordinance. (Added 4 of 1998 s. 2) (3) For the avoidance of doubt, it is hereby declared that an amount that is paid as a contribution to a registered scheme contingently on the basis that the amount will later constitute a mandatory contribution to the scheme shall for all purposes be treated as a mandatory contribution to the scheme (and the provisions of this Ordinance shall apply accordingly) unless and until it is certain that the amount will not constitute a mandatory contribution to the scheme. (Added 2 of 2002 s. 2) __________________________________________________________________________ Note: * This paragraph was amended by section 56 of the Mandatory Provident Fund Schemes (Amendment) Ordinance 2008 (1 of 2008). The application provision contained in section 57 of that Amendment Ordinance reads as follows- "57. Application of the Mandatory Provident Fund Schemes (Amendment) Ordinance 2008 The Mandatory Provident Fund Schemes Ordinance (Cap 485) as amended by section 56 of the Mandatory Provident Fund Schemes (Amendment) Ordinance 2008 (1 of 2008) applies in relation to a contribution period that begins on or after the date of commencement# of that section.". # Commencement date: 1 November 2008. "accrued benefits" (累算權益) "administer" (管理) "Advisory Committee" (諮詢委員會) "Appeal Board" (上訴委員會) "apprentice" (學徒) "approved trustee" (核准受託人) "associate" (有聯繫者) "associated company" (有聯繫公司) "Authority" (管理局) "authorized person" (獲授權人) "casual employee" (臨時僱員) "chief executive officer" (行政總裁) "close relative" (近親) "company" (公司) "compensation fund" (補償基金) "conditions" (條件) "contract of employment" (僱傭合約) "contribution account" (供款帳戶) "controller" (控權人) "corporation" (法團) "Court" "employment" (僱用、受僱) "employee" (僱員) "employer" (僱主) "employer sponsored scheme" (僱主營辦計劃) "exempt person" (獲豁免人士) "functions" (職能) "governing rules" (管限規則) "the guidelines" (指引) "industry" (行業) "industry scheme" (行業計劃) "Industry Schemes Committee" (行業計劃委員會) "Managing Director" (行政總監) "mandatory contribution" (強制性供款) "master trust scheme" (集成信託計劃) "maximum level of relevant income" (最高有關入息水平) "minimum level of relevant income" (最低有關入息水平) "minimum MPF benefits" (最低強制性公積金利益) "non-Hong Kong company" (非香港公司) "occupational retirement scheme" (職業退休計劃) "officer" (高級人員) "participating employer" (參與僱主) "personal representative" (遺產代理人) "practicable" (切實可行) "premises" (處所) "preserved account" (保留帳戶) "provident fund scheme" (公積金計劃) "record" (紀錄) "registered scheme" (註冊計劃) "the regulations" (《規例》) "relevant employee" (有關僱員) "relevant income" (有關入息) "remuneration" (酬金) "retirement age" (退休年齡) "the rules" (《規則》) "scheme" (計劃) "scheme member" (計劃成員) "self-employed person" (自僱人士) "service provider" (服務提供者) "share" (股份) "spouse" (配偶) "subsidiary" (附屬公司) "total incapacity" (完全喪失行為能力) "trustee" (受託人) "voluntary contribution" (自願性供款) "voting share" (有表決權股份) "working day" (工作日) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 2 Interpretation VerDate:01/11/2008 (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算權益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, including sums derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; (Amended 2 of 2002 s. 2) "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (諮詢委員會) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上訴委員會) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (學徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受託人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "arrears" (欠款) means a mandatory contribution that is due for payment to the Authority under section 18; (Added 1 of 2008 s. 59) "associate" (有聯繫者), in relation to a company or other body corporate, means a person specified in Schedule 8; "associated company" (有聯繫公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (獲授權人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (臨時僱員) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer" (行政總裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近親), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2) "company" (公司)- (a) means- (i) a company within the meaning of the Companies Ordinance (Cap 32); or (ii) a non-Hong Kong company; (Amended 30 of 2004 s. 3) (b) includes a corporation in the case of- (i) the definitions of "associated company", "chief executive officer", "controller", "officer", "share" and "voting share"; and (ii) the provisions of section 44(1), section 7(2) of Part 2 of Schedule 1A and Schedule 8; (Replaced 2 of 2002 s. 2) "compensation fund" (補償基金) means the compensation fund established in accordance with section 17; (Added 4 of 1998 s. 2) "conditions" (條件) means reasonable conditions; (Added 2 of 2002 s. 2) "contract of employment" (僱傭合約) has the same meaning as in the Employment Ordinance (Cap 57), and "employment" (僱用、受僱) shall be construed accordingly; "contribution account" (供款帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A); (Added 29 of 2002 s. 2) "controller" (控權人), in relation to a company, means any of the following persons- (a) the directors of the company; (b) a person in accordance with whose instructions those directors are accustomed to act; (c) the chief executive officer of the company; (d) a natural person who, alone or together with, a close relative, partner or employee of the person, or a company of which the person is a director, or through a nominee, controls at least 15 per cent of the voting shares of the company; (e) another company that, alone or with any associate, or any employee of an associate, of that other company, or through a nominee, controls at least 15 per cent of the voting shares of the first-mentioned company; (Added 4 of 1998 s. 2) "corporation" (法團) means a body corporate which is incorporated in a place outside Hong Kong and is not a non-Hong Kong company; (Added 2 of 2002 s. 2. Amended 30 of 2004 s. 3) "Court" means the Court of First Instance; (Added 4 of 1998 s. 2) "employee" (僱員) has the same meaning as in the Employment Ordinance (Cap 57), other than a person excluded by section 4(2) of that Ordinance, and includes an apprentice and a former employee; "employer" (僱主) means any person who has entered into a contract of employment to employ another person as his employee; "employer sponsored scheme" (僱主營辦計劃) means a registered scheme membership of which is- (a) in the case of an employer who is not a company, open only to the employees of that employer; or (b) in the case of an employer that is a company, open only to the employees of that company or an associated company; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "exempt person" (獲豁免人士) means a person or class of persons construed in accordance with section 4; "functions" (職能) includes powers, authorities and duties; (Added 4 of 1998 s. 2) "governing rules" (管限規則), in relation to a registered scheme, means those rules and provisions contained in a trust instrument or other document relating thereto or that trust instrument and that other document taken together, and governing the establishment and operation of the registered scheme; "the guidelines" (指引) means guidelines issued under section 6H; (Added 4 of 1998 s. 2) "industry" (行業) includes a trade, profession, occupation or calling; (Added 4 of 1998 s. 2) "industry scheme" (行業計劃) means a provident fund scheme registered under section 21A; (Added 4 of 1998 s. 2) "Industry Schemes Committee" (行業計劃委員會) means the MPF Industry Schemes Committee established by section 6U; (Added 4 of 1998 s. 2) "Managing Director" (行政總監), in relation to the Authority, means the Managing Director appointed under section 6B, and includes any person appointed to act as Managing Director- (a) when that director is absent from Hong Kong or absent through illness or any other reason; or (b) when the office of Managing Director is vacant; (Added 4 of 1998 s. 2) "mandatory contribution" (強制性供款) means- (a) an amount that is required to be paid as a contribution to a registered scheme under section 7A or 7C; or (b) minimum MPF benefits, to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B) applies, that have been transferred to a registered scheme; (Replaced 2 of 2002 s. 2) "master trust scheme" (集成信託計劃) means a registered scheme membership of which is open to- (a) the employees of more than one employer; and (b) self-employed persons; and (c) persons who, having accrued benefits in another registered scheme, wish to have those benefits transferred to the first-mentioned scheme and; (d) persons who, having benefits in an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B), wish to have those benefits transferred to the first-mentioned scheme, (Added 2 of 2002 s. 2) but does not include an industry scheme; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "maximum level of relevant income" (最高有關入息水平) means the level of relevant income specified in Schedule 3 above which a mandatory contribution is not required to be paid to a registered scheme; (Replaced 4 of 1998 s. 2) "minimum level of relevant income" (最低有關入息水平) means the level of relevant income specified in Schedule 2 below which level an employee or self-employed person has the option of not participating in a registered scheme; (Amended 4 of 1998 s. 2) "minimum MPF benefits" (最低強制性公積金利益) has the same meaning as in section 1(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B); (Added 2 of 2002 s. 2) "non-Hong Kong company" (非香港公司) means a company to which Part XI of the Companies Ordinance (Cap 32) applies; (Added 4 of 1998 s. 2. Amended 30 of 2004 s. 3) "occupational retirement scheme" (職業退休計劃) has the same meaning as in the Occupational Retirement Schemes Ordinance (Cap 426); (Added 4 of 1998 s. 2) "officer" (高級人員), in relation to a company, means- (a) a director of the company; or (b) the chief executive officer of the company; (Added 4 of 1998 s. 2) "participating employer" (參與僱主) means the employer of employees who are members or prospective members of a registered scheme; (Added 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "personal representative" (遺產代理人) means- (a) a personal representative within the meaning of section 2 of the Probate and Administration Ordinance (Cap 10); or (b) where the Official Administrator gets in and administers an estate in a summary manner under section 15 of that Ordinance, the Official Administrator; (Added 1 of 2008 s. 40) "practicable" (切實可行) means reasonably practicable; (Added 29 of 2002 s. 2) "premises" (處所) includes any place and a part of premises or a place; (Added 4 of 1998 s. 2) "preserved account" (保留帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A); (Added 2 of 2002 s. 2) "provident fund scheme" (公積金計劃) means a scheme governed by a trust- (a) the terms of which are set out in one or more documents; and (Replaced 4 of 1998 s. 2) (b) that- (i) provides for the payment of pecuniary benefits to the members of the scheme when they reach the retirement age, or any other prescribed event occurs in relation to them; or (ii) in the case of members who die before reaching that age or before the occurrence of such an event, provides for the payment of those benefits to the personal representatives or beneficiaries of the estates of those members, (Replaced 4 of 1998 s. 2) and includes a proposed provident fund scheme; "record" (紀錄) means any record of information, however compiled, recorded or stored, and includes- (a) any book, a register and any other document containing information; and (b) any disc, tape or other article from which information is capable of being produced; (Added 4 of 1998 s. 2) "registered scheme" (註冊計劃) means a provident fund scheme registered under section 21 as an employer sponsored scheme or a master trust scheme or registered under section 21A as an industry scheme; (Replaced 4 of 1998 s. 2) "the regulations" (《規例》) means regulations made under section 46 and in force; (Added 4 of 1998 s. 2) "relevant employee" (有關僱員) means an employee of 18 years of age or over and below retirement age; "relevant income" (有關入息) means- *(a) in the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance, expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap 57); (Amended 1 of 2008 s. 56) (b) in the case of a self-employed person, income of that person as ascertained in accordance with the regulations; (Amended 4 of 1998 s. 2) "remuneration" (酬金) includes travel and subsistence allowances; (Added 4 of 1998 s. 2) "retirement age" (退休年齡), in relation to an employee or self-employed person, means 65 years of age or, if the regulations prescribe an earlier age, that earlier age; (Amended 4 of 1998 s. 2; 2 of 2002 s. 2) "the rules" (《規則》) means rules made under section 47 and in force; (Added 4 of 1998 s. 2) "scheme" (計劃) means a provident fund scheme; "scheme member" (計劃成員), in relation to a registered scheme, means a person who has a beneficial interest in the registered scheme; "self-employed person" (自僱人士) means a person whose relevant income (otherwise than in the capacity as an employee) derives from his production (in whole or in part) of goods or services in Hong Kong, or his trade in goods or services in or from Hong Kong; "service provider" (服務提供者), in relation to a provident fund scheme, means an investment manager, custodian of scheme assets or other person appointed or engaged by the trustee of the scheme to provide services for the purposes of the scheme, and includes a person to whom the provision of those services is delegated by such a manager, custodian or other person, but does not include a person appointed or so engaged as an auditor, solicitor or actuary; (Added 4 of 1998 s. 2) "share" (股份) means a share in the capital of a company, and includes the stock or any part of the stock of the company; (Added 4 of 1998 s. 2) "spouse" (配偶), in relation to a person, includes a person of the opposite sex with whom the person is cohabiting in a bona fide domestic relationship as man and wife; (Added 4 of 1998 s. 2) "subsidiary" (附屬公司) has the meaning assigned to it by section 2(4), (5) and (6) of the Companies Ordinance (Cap 32); (Added 1 of 2008 s. 51) "total incapacity" (完全喪失行為能力), in relation to a scheme member, means permanent unfitness to perform the kind of work that the member was last performing before becoming incapacitated; (Added 4 of 1998 s. 2. Amended 29 of 2002 s. 2) "trustee" (受託人) includes a prospective trustee; "voluntary contribution" (自願性供款) means a contribution paid to a registered scheme in accordance with section 11; (Added 4 of 1998 s. 2) "voting share" (有表決權股份), in relation to a company, means an issued share in the company that confers a right to vote, not being a right to vote that is exercisable only in one or more of the following circumstances- (a) during a period during which a dividend (or part of a dividend) in respect of the share is in arrears; (b) on a proposal by the company to redeem or purchase its own shares; (c) on a proposal by the company to reduce its share capital; (d) on a proposal that affects rights attached to the share; (e) on a proposal to wind up the company; (f) on a proposal for the disposal of the whole of the company's property, business and undertaking; (g) during the winding up of the company. (Added 4 of 1998 s. 2) "working day" (工作日) means any day other than- (a) a public holiday; (b) a gale warning day or black rainstorm warning day within the meaning of section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1). (Added 2 of 2002 s. 2) (Amended 4 of 1998 s. 2) (2) If relevant employees- (a) are engaged in an industry for which a provident fund scheme is registered as an industry scheme; and (b) employed in that industry by an employer on a day to day basis or for a fixed period of less than 60 days, the Authority may, by order published in the Gazette, declare those employees to be casual employees for the purposes of this Ordinance. (Added 4 of 1998 s. 2) (3) For the avoidance of doubt, it is hereby declared that an amount that is paid as a contribution to a registered scheme contingently on the basis that the amount will later constitute a mandatory contribution to the scheme shall for all purposes be treated as a mandatory contribution to the scheme (and the provisions of this Ordinance shall apply accordingly) unless and until it is certain that the amount will not constitute a mandatory contribution to the scheme. (Added 2 of 2002 s. 2) __________________________________________________________________________ Note: * This paragraph was amended by section 56 of the Mandatory Provident Fund Schemes (Amendment) Ordinance 2008 (1 of 2008). The application provision contained in section 57 of that Amendment Ordinance reads as follows- "57. Application of the Mandatory Provident Fund Schemes (Amendment) Ordinance 2008 The Mandatory Provident Fund Schemes Ordinance (Cap 485) as amended by section 56 of the Mandatory Provident Fund Schemes (Amendment) Ordinance 2008 (1 of 2008) applies in relation to a contribution period that begins on or after the date of commencement# of that section.". # Commencement date: 1 November 2008. "accrued benefits" (累算權益) "administer" (管理) "Advisory Committee" (諮詢委員會) "Appeal Board" (上訴委員會) "apprentice" (學徒) "approved trustee" (核准受託人) "associate" (有聯繫者) "associated company" (有聯繫公司) "Authority" (管理局) "authorized person" (獲授權人) "casual employee" (臨時僱員) "chief executive officer" (行政總裁) "close relative" (近親) "company" (公司) "compensation fund" (補償基金) "conditions" (條件) "contract of employment" (僱傭合約) "contribution account" (供款帳戶) "controller" (控權人) "corporation" (法團) "Court" "employment" (僱用、受僱) "employee" (僱員) "employer" (僱主) "employer sponsored scheme" (僱主營辦計劃) "exempt person" (獲豁免人士) "functions" (職能) "governing rules" (管限規則) "the guidelines" (指引) "industry" (行業) "industry scheme" (行業計劃) "Industry Schemes Committee" (行業計劃委員會) "Managing Director" (行政總監) "mandatory contribution" (強制性供款) "master trust scheme" (集成信託計劃) "maximum level of relevant income" (最高有關入息水平) "minimum level of relevant income" (最低有關入息水平) "minimum MPF benefits" (最低強制性公積金利益) "non-Hong Kong company" (非香港公司) "occupational retirement scheme" (職業退休計劃) "officer" (高級人員) "participating employer" (參與僱主) "personal representative" (遺產代理人) "practicable" (切實可行) "premises" (處所) "preserved account" (保留帳戶) "provident fund scheme" (公積金計劃) "record" (紀錄) "registered scheme" (註冊計劃) "the regulations" (《規例》) "relevant employee" (有關僱員) "relevant income" (有關入息) "remuneration" (酬金) "retirement age" (退休年齡) "the rules" (《規則》) "scheme" (計劃) "scheme member" (計劃成員) "self-employed person" (自僱人士) "service provider" (服務提供者) "share" (股份) "spouse" (配偶) "subsidiary" (附屬公司) "total incapacity" (完全喪失行為能力) "trustee" (受託人) "voluntary contribution" (自願性供款) "voting share" (有表決權股份) "working day" (工作日) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 2 Interpretation VerDate:18/01/2008 (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算權益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, including sums derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; (Amended 2 of 2002 s. 2) "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (諮詢委員會) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上訴委員會) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (學徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受託人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "associate" (有聯繫者), in relation to a company or other body corporate, means a person specified in Schedule 8; "associated company" (有聯繫公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (獲授權人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (臨時僱員) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer" (行政總裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近親), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2) "company" (公司)- (a) means- (i) a company within the meaning of the Companies Ordinance (Cap 32); or (ii) a non-Hong Kong company; (Amended 30 of 2004 s. 3) (b) includes a corporation in the case of- (i) the definitions of "associated company", "chief executive officer", "controller", "officer", "share" and "voting share"; and (ii) the provisions of section 44(1), section 7(2) of Part 2 of Schedule 1A and Schedule 8; (Replaced 2 of 2002 s. 2) "compensation fund" (補償基金) means the compensation fund established in accordance with section 17; (Added 4 of 1998 s. 2) "conditions" (條件) means reasonable conditions; (Added 2 of 2002 s. 2) "contract of employment" (僱傭合約) has the same meaning as in the Employment Ordinance (Cap 57), and "employment" (僱用、受僱) shall be construed accordingly; "contribution account" (供款帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A); (Added 29 of 2002 s. 2) "controller" (控權人), in relation to a company, means any of the following persons- (a) the directors of the company; (b) a person in accordance with whose instructions those directors are accustomed to act; (c) the chief executive officer of the company; (d) a natural person who, alone or together with, a close relative, partner or employee of the person, or a company of which the person is a director, or through a nominee, controls at least 15 per cent of the voting shares of the company; (e) another company that, alone or with any associate, or any employee of an associate, of that other company, or through a nominee, controls at least 15 per cent of the voting shares of the first-mentioned company; (Added 4 of 1998 s. 2) "corporation" (法團) means a body corporate which is incorporated in a place outside Hong Kong and is not a non-Hong Kong company; (Added 2 of 2002 s. 2. Amended 30 of 2004 s. 3) "Court" means the Court of First Instance; (Added 4 of 1998 s. 2) "employee" (僱員) has the same meaning as in the Employment Ordinance (Cap 57), other than a person excluded by section 4(2) of that Ordinance, and includes an apprentice and a former employee; "employer" (僱主) means any person who has entered into a contract of employment to employ another person as his employee; "employer sponsored scheme" (僱主營辦計劃) means a registered scheme membership of which is- (a) in the case of an employer who is not a company, open only to the employees of that employer; or (b) in the case of an employer that is a company, open only to the employees of that company or an associated company; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "exempt person" (獲豁免人士) means a person or class of persons construed in accordance with section 4; "functions" (職能) includes powers, authorities and duties; (Added 4 of 1998 s. 2) "governing rules" (管限規則), in relation to a registered scheme, means those rules and provisions contained in a trust instrument or other document relating thereto or that trust instrument and that other document taken together, and governing the establishment and operation of the registered scheme; "the guidelines" (指引) means guidelines issued under section 6H; (Added 4 of 1998 s. 2) "industry" (行業) includes a trade, profession, occupation or calling; (Added 4 of 1998 s. 2) "industry scheme" (行業計劃) means a provident fund scheme registered under section 21A; (Added 4 of 1998 s. 2) "Industry Schemes Committee" (行業計劃委員會) means the MPF Industry Schemes Committee established by section 6U; (Added 4 of 1998 s. 2) "Managing Director" (行政總監), in relation to the Authority, means the Managing Director appointed under section 6B, and includes any person appointed to act as Managing Director- (a) when that director is absent from Hong Kong or absent through illness or any other reason; or (b) when the office of Managing Director is vacant; (Added 4 of 1998 s. 2) "mandatory contribution" (強制性供款) means- (a) an amount that is required to be paid as a contribution to a registered scheme under section 7A or 7C; or (b) minimum MPF benefits, to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B) applies, that have been transferred to a registered scheme; (Replaced 2 of 2002 s. 2) "master trust scheme" (集成信託計劃) means a registered scheme membership of which is open to- (a) the employees of more than one employer; and (b) self-employed persons; and (c) persons who, having accrued benefits in another registered scheme, wish to have those benefits transferred to the first-mentioned scheme and; (d) persons who, having benefits in an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B), wish to have those benefits transferred to the first-mentioned scheme, (Added 2 of 2002 s. 2) but does not include an industry scheme; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "maximum level of relevant income" (最高有關入息水平) means the level of relevant income specified in Schedule 3 above which a mandatory contribution is not required to be paid to a registered scheme; (Replaced 4 of 1998 s. 2) "minimum level of relevant income" (最低有關入息水平) means the level of relevant income specified in Schedule 2 below which level an employee or self-employed person has the option of not participating in a registered scheme; (Amended 4 of 1998 s. 2) "minimum MPF benefits" (最低強制性公積金利益) has the same meaning as in section 1(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B); (Added 2 of 2002 s. 2) "non-Hong Kong company" (非香港公司) means a company to which Part XI of the Companies Ordinance (Cap 32) applies; (Added 4 of 1998 s. 2. Amended 30 of 2004 s. 3) "occupational retirement scheme" (職業退休計劃) has the same meaning as in the Occupational Retirement Schemes Ordinance (Cap 426); (Added 4 of 1998 s. 2) "officer" (高級人員), in relation to a company, means- (a) a director of the company; or (b) the chief executive officer of the company; (Added 4 of 1998 s. 2) "participating employer" (參與僱主) means the employer of employees who are members or prospective members of a registered scheme; (Added 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "personal representative" (遺產代理人) means- (a) a personal representative within the meaning of section 2 of the Probate and Administration Ordinance (Cap 10); or (b) where the Official Administrator gets in and administers an estate in a summary manner under section 15 of that Ordinance, the Official Administrator; (Added 1 of 2008 s. 40) "practicable" (切實可行) means reasonably practicable; (Added 29 of 2002 s. 2) "premises" (處所) includes any place and a part of premises or a place; (Added 4 of 1998 s. 2) "preserved account" (保留帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A); (Added 2 of 2002 s. 2) "provident fund scheme" (公積金計劃) means a scheme governed by a trust- (a) the terms of which are set out in one or more documents; and (Replaced 4 of 1998 s. 2) (b) that- (i) provides for the payment of pecuniary benefits to the members of the scheme when they reach the retirement age, or any other prescribed event occurs in relation to them; or (ii) in the case of members who die before reaching that age or before the occurrence of such an event, provides for the payment of those benefits to the personal representatives or beneficiaries of the estates of those members, (Replaced 4 of 1998 s. 2) and includes a proposed provident fund scheme; "record" (紀錄) means any record of information, however compiled, recorded or stored, and includes- (a) any book, a register and any other document containing information; and (b) any disc, tape or other article from which information is capable of being produced; (Added 4 of 1998 s. 2) "registered scheme" (註冊計劃) means a provident fund scheme registered under section 21 as an employer sponsored scheme or a master trust scheme or registered under section 21A as an industry scheme; (Replaced 4 of 1998 s. 2) "the regulations" (《規例》) means regulations made under section 46 and in force; (Added 4 of 1998 s. 2) "relevant employee" (有關僱員) means an employee of 18 years of age or over and below retirement age; "relevant income" (有關入息) means- (a) in the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (other than a housing allowance or other housing benefit), expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap 57); (b) in the case of a self-employed person, income of that person as ascertained in accordance with the regulations; (Amended 4 of 1998 s. 2) "remuneration" (酬金) includes travel and subsistence allowances; (Added 4 of 1998 s. 2) "retirement age" (退休年齡), in relation to an employee or self-employed person, means 65 years of age or, if the regulations prescribe an earlier age, that earlier age; (Amended 4 of 1998 s. 2; 2 of 2002 s. 2) "the rules" (《規則》) means rules made under section 47 and in force; (Added 4 of 1998 s. 2) "scheme" (計劃) means a provident fund scheme; "scheme member" (計劃成員), in relation to a registered scheme, means a person who has a beneficial interest in the registered scheme; "self-employed person" (自僱人士) means a person whose relevant income (otherwise than in the capacity as an employee) derives from his production (in whole or in part) of goods or services in Hong Kong, or his trade in goods or services in or from Hong Kong; "service provider" (服務提供者), in relation to a provident fund scheme, means an investment manager, custodian of scheme assets or other person appointed or engaged by the trustee of the scheme to provide services for the purposes of the scheme, and includes a person to whom the provision of those services is delegated by such a manager, custodian or other person, but does not include a person appointed or so engaged as an auditor, solicitor or actuary; (Added 4 of 1998 s. 2) "share" (股份) means a share in the capital of a company, and includes the stock or any part of the stock of the company; (Added 4 of 1998 s. 2) "spouse" (配偶), in relation to a person, includes a person of the opposite sex with whom the person is cohabiting in a bona fide domestic relationship as man and wife; (Added 4 of 1998 s. 2) "subsidiary" (附屬公司) has the meaning assigned to it by section 2(4), (5) and (6) of the Companies Ordinance (Cap 32); (Added 1 of 2008 s. 51) "total incapacity" (完全喪失行為能力), in relation to a scheme member, means permanent unfitness to perform the kind of work that the member was last performing before becoming incapacitated; (Added 4 of 1998 s. 2. Amended 29 of 2002 s. 2) "trustee" (受託人) includes a prospective trustee; "voluntary contribution" (自願性供款) means a contribution paid to a registered scheme in accordance with section 11; (Added 4 of 1998 s. 2) "voting share" (有表決權股份), in relation to a company, means an issued share in the company that confers a right to vote, not being a right to vote that is exercisable only in one or more of the following circumstances- (a) during a period during which a dividend (or part of a dividend) in respect of the share is in arrears; (b) on a proposal by the company to redeem or purchase its own shares; (c) on a proposal by the company to reduce its share capital; (d) on a proposal that affects rights attached to the share; (e) on a proposal to wind up the company; (f) on a proposal for the disposal of the whole of the company's property, business and undertaking; (g) during the winding up of the company. (Added 4 of 1998 s. 2) "working day" (工作日) means any day other than- (a) a public holiday; (b) a gale warning day or black rainstorm warning day within the meaning of section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1). (Added 2 of 2002 s. 2) (Amended 4 of 1998 s. 2) (2) If relevant employees- (a) are engaged in an industry for which a provident fund scheme is registered as an industry scheme; and (b) employed in that industry by an employer on a day to day basis or for a fixed period of less than 60 days, the Authority may, by order published in the Gazette, declare those employees to be casual employees for the purposes of this Ordinance. (Added 4 of 1998 s. 2) (3) For the avoidance of doubt, it is hereby declared that an amount that is paid as a contribution to a registered scheme contingently on the basis that the amount will later constitute a mandatory contribution to the scheme shall for all purposes be treated as a mandatory contribution to the scheme (and the provisions of this Ordinance shall apply accordingly) unless and until it is certain that the amount will not constitute a mandatory contribution to the scheme. (Added 2 of 2002 s. 2) "accrued benefits" (累算權益) "administer" (管理) "Advisory Committee" (諮詢委員會) "Appeal Board" (上訴委員會) "apprentice" (學徒) "approved trustee" (核准受託人) "associate" (有聯繫者) "associated company" (有聯繫公司) "Authority" (管理局) "authorized person" (獲授權人) "casual employee" (臨時僱員) "chief executive officer" (行政總裁) "close relative" (近親) "company" (公司) "compensation fund" (補償基金) "conditions" (條件) "contract of employment" (僱傭合約) "contribution account" (供款帳戶) "controller" (控權人) "corporation" (法團) "Court" "employment" (僱用、受僱) "employee" (僱員) "employer" (僱主) "employer sponsored scheme" (僱主營辦計劃) "exempt person" (獲豁免人士) "functions" (職能) "governing rules" (管限規則) "the guidelines" (指引) "industry" (行業) "industry scheme" (行業計劃) "Industry Schemes Committee" (行業計劃委員會) "Managing Director" (行政總監) "mandatory contribution" (強制性供款) "master trust scheme" (集成信託計劃) "maximum level of relevant income" (最高有關入息水平) "minimum level of relevant income" (最低有關入息水平) "minimum MPF benefits" (最低強制性公積金利益) "non-Hong Kong company" (非香港公司) "occupational retirement scheme" (職業退休計劃) "officer" (高級人員) "participating employer" (參與僱主) "personal representative" (遺產代理人) "practicable" (切實可行) "premises" (處所) "preserved account" (保留帳戶) "provident fund scheme" (公積金計劃) "record" (紀錄) "registered scheme" (註冊計劃) "the regulations" (《規例》) "relevant employee" (有關僱員) "relevant income" (有關入息) "remuneration" (酬金) "retirement age" (退休年齡) "the rules" (《規則》) "scheme" (計劃) "scheme member" (計劃成員) "self-employed person" (自僱人士) "service provider" (服務提供者) "share" (股份) "spouse" (配偶) "subsidiary" (附屬公司) "total incapacity" (完全喪失行為能力) "trustee" (受託人) "voluntary contribution" (自願性供款) "voting share" (有表決權股份) "working day" (工作日) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 2 Interpretation VerDate:14/12/2007 (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算權益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, including sums derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; (Amended 2 of 2002 s. 2) "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (諮詢委員會) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上訴委員會) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (學徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受託人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "associate" (有聯繫者), in relation to a company or other body corporate, means a person specified in Schedule 8; "associated company" (有聯繫公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (獲授權人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (臨時僱員) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer" (行政總裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近親), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2) "company" (公司)- (a) means- (i) a company within the meaning of the Companies Ordinance (Cap 32); or (ii) a non-Hong Kong company; (Amended 30 of 2004 s. 3) (b) includes a corporation in the case of- (i) the definitions of "associated company", "chief executive officer", "controller", "officer", "share" and "voting share"; and (ii) the provisions of section 44(1), section 7(2) of Part 2 of Schedule 1A and Schedule 8; (Replaced 2 of 2002 s. 2) "compensation fund" (補償基金) means the compensation fund established in accordance with section 17; (Added 4 of 1998 s. 2) "conditions" (條件) means reasonable conditions; (Added 2 of 2002 s. 2) "contract of employment" (僱傭合約) has the same meaning as in the Employment Ordinance (Cap 57), and "employment" (僱用、受僱) shall be construed accordingly; "contribution account" (供款帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg.); (Added 29 of 2002 s. 2) "controller" (控權人), in relation to a company, means any of the following persons- (a) the directors of the company; (b) a person in accordance with whose instructions those directors are accustomed to act; (c) the chief executive officer of the company; (d) a natural person who, alone or together with, a close relative, partner or employee of the person, or a company of which the person is a director, or through a nominee, controls at least 15 per cent of the voting shares of the company; (e) another company that, alone or with any associate, or any employee of an associate, of that other company, or through a nominee, controls at least 15 per cent of the voting shares of the first-mentioned company; (Added 4 of 1998 s. 2) "corporation" (法團) means a body corporate which is incorporated in a place outside Hong Kong and is not a non-Hong Kong company; (Added 2 of 2002 s. 2. Amended 30 of 2004 s. 3) "Court" means the Court of First Instance; (Added 4 of 1998 s. 2) "employee" (僱員) has the same meaning as in the Employment Ordinance (Cap 57), other than a person excluded by section 4(2) of that Ordinance, and includes an apprentice and a former employee; "employer" (僱主) means any person who has entered into a contract of employment to employ another person as his employee; "employer sponsored scheme" (僱主營辦計劃) means a registered scheme membership of which is- (a) in the case of an employer who is not a company, open only to the employees of that employer; or (b) in the case of an employer that is a company, open only to the employees of that company or an associated company; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "exempt person" (獲豁免人士) means a person or class of persons construed in accordance with section 4; "functions" (職能) includes powers, authorities and duties; (Added 4 of 1998 s. 2) "governing rules" (管限規則), in relation to a registered scheme, means those rules and provisions contained in a trust instrument or other document relating thereto or that trust instrument and that other document taken together, and governing the establishment and operation of the registered scheme; "the guidelines" (指引) means guidelines issued under section 6H; (Added 4 of 1998 s. 2) "industry" (行業) includes a trade, profession, occupation or calling; (Added 4 of 1998 s. 2) "industry scheme" (行業計劃) means a provident fund scheme registered under section 21A; (Added 4 of 1998 s. 2) "Industry Schemes Committee" (行業計劃委員會) means the MPF Industry Schemes Committee established by section 6U; (Added 4 of 1998 s. 2) "Managing Director" (行政總監), in relation to the Authority, means the Managing Director appointed under section 6B, and includes any person appointed to act as Managing Director- (a) when that director is absent from Hong Kong or absent through illness or any other reason; or (b) when the office of Managing Director is vacant; (Added 4 of 1998 s. 2) "mandatory contribution" (強制性供款) means- (a) an amount that is required to be paid as a contribution to a registered scheme under section 7A or 7C; or (b) minimum MPF benefits, to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.) applies, that have been transferred to a registered scheme; (Replaced 2 of 2002 s. 2) "master trust scheme" (集成信託計劃) means a registered scheme membership of which is open to- (a) the employees of more than one employer; and (b) self-employed persons; and (c) persons who, having accrued benefits in another registered scheme, wish to have those benefits transferred to the first-mentioned scheme and; (d) persons who, having benefits in an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.), wish to have those benefits transferred to the first-mentioned scheme, (Added 2 of 2002 s. 2) but does not include an industry scheme; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "maximum level of relevant income" (最高有關入息水平) means the level of relevant income specified in Schedule 3 above which a mandatory contribution is not required to be paid to a registered scheme; (Replaced 4 of 1998 s. 2) "minimum level of relevant income" (最低有關入息水平) means the level of relevant income specified in Schedule 2 below which level an employee or self-employed person has the option of not participating in a registered scheme; (Amended 4 of 1998 s. 2) "minimum MPF benefits" (最低強制性公積金利益) has the same meaning as in section 1(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.); (Added 2 of 2002 s. 2) "non-Hong Kong company" (非香港公司) means a company to which Part XI of the Companies Ordinance (Cap 32) applies; (Added 4 of 1998 s. 2. Amended 30 of 2004 s. 3) "occupational retirement scheme" (職業退休計劃) has the same meaning as in the Occupational Retirement Schemes Ordinance (Cap 426); (Added 4 of 1998 s. 2) "officer" (高級人員), in relation to a company, means- (a) a director of the company; or (b) the chief executive officer of the company; (Added 4 of 1998 s. 2) "participating employer" (參與僱主) means the employer of employees who are members or prospective members of a registered scheme; (Added 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "practicable" (切實可行) means reasonably practicable; (Added 29 of 2002 s. 2) "premises" (處所) includes any place and a part of premises or a place; (Added 4 of 1998 s. 2) "preserved account" (保留帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg.); (Added 2 of 2002 s. 2) "provident fund scheme" (公積金計劃) means a scheme governed by a trust- (a) the terms of which are set out in one or more documents; and (Replaced 4 of 1998 s. 2) (b) that- (i) provides for the payment of pecuniary benefits to the members of the scheme when they reach the retirement age, or any other prescribed event occurs in relation to them; or (ii) in the case of members who die before reaching that age or before the occurrence of such an event, provides for the payment of those benefits to the personal representatives or beneficiaries of the estates of those members, (Replaced 4 of 1998 s. 2) and includes a proposed provident fund scheme; "record" (紀錄) means any record of information, however compiled, recorded or stored, and includes- (a) any book, a register and any other document containing information; and (b) any disc, tape or other article from which information is capable of being produced; (Added 4 of 1998 s. 2) "registered scheme" (註冊計劃) means a provident fund scheme registered under section 21 as an employer sponsored scheme or a master trust scheme or registered under section 21A as an industry scheme; (Replaced 4 of 1998 s. 2) "the regulations" (《規例》) means regulations made under section 46 and in force; (Added 4 of 1998 s. 2) "relevant employee" (有關僱員) means an employee of 18 years of age or over and below retirement age; "relevant income" (有關入息) means- (a) in the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (other than a housing allowance or other housing benefit), expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap 57); (b) in the case of a self-employed person, income of that person as ascertained in accordance with the regulations; (Amended 4 of 1998 s. 2) "remuneration" (酬金) includes travel and subsistence allowances; (Added 4 of 1998 s. 2) "retirement age" (退休年齡), in relation to an employee or self-employed person, means 65 years of age or, if the regulations prescribe an earlier age, that earlier age; (Amended 4 of 1998 s. 2; 2 of 2002 s. 2) "the rules" (《規則》) means rules made under section 47 and in force; (Added 4 of 1998 s. 2) "scheme" (計劃) means a provident fund scheme; "scheme member" (計劃成員), in relation to a registered scheme, means a person who has a beneficial interest in the registered scheme; "self-employed person" (自僱人士) means a person whose relevant income (otherwise than in the capacity as an employee) derives from his production (in whole or in part) of goods or services in Hong Kong, or his trade in goods or services in or from Hong Kong; "service provider" (服務提供者), in relation to a provident fund scheme, means an investment manager, custodian of scheme assets or other person appointed or engaged by the trustee of the scheme to provide services for the purposes of the scheme, and includes a person to whom the provision of those services is delegated by such a manager, custodian or other person, but does not include a person appointed or so engaged as an auditor, solicitor or actuary; (Added 4 of 1998 s. 2) "share" (股份) means a share in the capital of a company, and includes the stock or any part of the stock of the company; (Added 4 of 1998 s. 2) "spouse" (配偶), in relation to a person, includes a person of the opposite sex with whom the person is cohabiting in a bona fide domestic relationship as man and wife; (Added 4 of 1998 s. 2) "total incapacity" (完全喪失行為能力), in relation to a scheme member, means permanent unfitness to perform the kind of work that the member was last performing before becoming incapacitated; (Added 4 of 1998 s. 2. Amended 29 of 2002 s. 2) "trustee" (受託人) includes a prospective trustee; "voluntary contribution" (自願性供款) means a contribution paid to a registered scheme in accordance with section 11; (Added 4 of 1998 s. 2) "voting share" (有表決權股份), in relation to a company, means an issued share in the company that confers a right to vote, not being a right to vote that is exercisable only in one or more of the following circumstances- (a) during a period during which a dividend (or part of a dividend) in respect of the share is in arrears; (b) on a proposal by the company to redeem or purchase its own shares; (c) on a proposal by the company to reduce its share capital; (d) on a proposal that affects rights attached to the share; (e) on a proposal to wind up the company; (f) on a proposal for the disposal of the whole of the company's property, business and undertaking; (g) during the winding up of the company. (Added 4 of 1998 s. 2) "working day" (工作日) means any day other than- (a) a public holiday; (b) a gale warning day or black rainstorm warning day within the meaning of section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1). (Added 2 of 2002 s. 2) (Amended 4 of 1998 s. 2) (2) If relevant employees- (a) are engaged in an industry for which a provident fund scheme is registered as an industry scheme; and (b) employed in that industry by an employer on a day to day basis or for a fixed period of less than 60 days, the Authority may, by order published in the Gazette, declare those employees to be casual employees for the purposes of this Ordinance. (Added 4 of 1998 s. 2) (3) For the avoidance of doubt, it is hereby declared that an amount that is paid as a contribution to a registered scheme contingently on the basis that the amount will later constitute a mandatory contribution to the scheme shall for all purposes be treated as a mandatory contribution to the scheme (and the provisions of this Ordinance shall apply accordingly) unless and until it is certain that the amount will not constitute a mandatory contribution to the scheme. (Added 2 of 2002 s. 2) "accrued benefits" (累算權益) "administer" (管理) "Advisory Committee" (諮詢委員會) "Appeal Board" (上訴委員會) "apprentice" (學徒) "approved trustee" (核准受託人) "associate" (有聯繫者) "associated company" (有聯繫公司) "Authority" (管理局) "authorized person" (獲授權人) "casual employee" (臨時僱員) "chief executive officer" (行政總裁) "close relative" (近親) "company" (公司) "compensation fund" (補償基金) "conditions" (條件) "contract of employment" (僱傭合約) "contribution account" (供款帳戶) "controller" (控權人) "corporation" (法團) "Court" "employment" (僱用、受僱) "employee" (僱員) "employer" (僱主) "employer sponsored scheme" (僱主營辦計劃) "exempt person" (獲豁免人士) "functions" (職能) "governing rules" (管限規則) "the guidelines" (指引) "industry" (行業) "industry scheme" (行業計劃) "Industry Schemes Committee" (行業計劃委員會) "Managing Director" (行政總監) "mandatory contribution" (強制性供款) "master trust scheme" (集成信託計劃) "maximum level of relevant income" (最高有關入息水平) "minimum level of relevant income" (最低有關入息水平) "minimum MPF benefits" (最低強制性公積金利益) "non-Hong Kong company" (非香港公司) "occupational retirement scheme" (職業退休計劃) "officer" (高級人員) "participating employer" (參與僱主) "practicable" (切實可行) "premises" (處所) "preserved account" (保留帳戶) "provident fund scheme" (公積金計劃) "record" (紀錄) "registered scheme" (註冊計劃) "the regulations" (《規例》) "relevant employee" (有關僱員) "relevant income" (有關入息) "remuneration" (酬金) "retirement age" (退休年齡) "the rules" (《規則》) "scheme" (計劃) "scheme member" (計劃成員) "self-employed person" (自僱人士) "service provider" (服務提供者) "share" (股份) "spouse" (配偶) "total incapacity" (完全喪失行為能力) "trustee" (受託人) "voluntary contribution" (自願性供款) "voting share" (有表決權股份) "working day" (工作日) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 2 Interpretation VerDate:19/07/2002 (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算權益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, including sums derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; (Amended 2 of 2002 s. 2) "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (諮詢委員會) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上訴委員會) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (學徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受託人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "associate" (有聯繫者), in relation to a company or other body corporate, means a person specified in Schedule 8; "associated company" (有聯繫公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (獲授權人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (臨時僱員) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer" (行政總裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近親), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2) "company" (公司)- (a) means- (i) a company within the meaning of the Companies Ordinance (Cap 32); or (ii) an oversea company; (b) includes a corporation in the case of- (i) the definitions of "associated company", "chief executive officer", "controller", "officer", "share" and "voting share"; and (ii) the provisions of section 44(1), section 7(2) of Part 2 of Schedule 1A and Schedule 8; (Replaced 2 of 2002 s. 2) "compensation fund" (補償基金) means the compensation fund established in accordance with section 17; (Added 4 of 1998 s. 2) "conditions" (條件) means reasonable conditions; (Added 2 of 2002 s. 2) "contract of employment" (僱傭合約) has the same meaning as in the Employment Ordinance (Cap 57), and "employment" (僱用、受僱) shall be construed accordingly; "contribution account" (供款帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg.); (Added 29 of 2002 s. 2) "controller" (控權人), in relation to a company, means any of the following persons- (a) the directors of the company; (b) a person in accordance with whose instructions those directors are accustomed to act; (c) the chief executive officer of the company; (d) a natural person who, alone or together with, a close relative, partner or employee of the person, or a company of which the person is a director, or through a nominee, controls at least 15 per cent of the voting shares of the company; (e) another company that, alone or with any associate, or any employee of an associate, of that other company, or through a nominee, controls at least 15 per cent of the voting shares of the first-mentioned company; (Added 4 of 1998 s. 2) "corporation" (法團) means a body corporate which is incorporated in a place outside Hong Kong and is not an oversea company; (Added 2 of 2002 s. 2) "Court" means the Court of First Instance; (Added 4 of 1998 s. 2) "employee" (僱員) has the same meaning as in the Employment Ordinance (Cap 57), other than a person excluded by section 4(2) of that Ordinance, and includes an apprentice and a former employee; "employer" (僱主) means any person who has entered into a contract of employment to employ another person as his employee; "employer sponsored scheme" (僱主營辦計劃) means a registered scheme membership of which is- (a) in the case of an employer who is not a company, open only to the employees of that employer; or (b) in the case of an employer that is a company, open only to the employees of that company or an associated company; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "exempt person" (獲豁免人士) means a person or class of persons construed in accordance with section 4; "functions" (職能) includes powers, authorities and duties; (Added 4 of 1998 s. 2) "governing rules" (管限規則), in relation to a registered scheme, means those rules and provisions contained in a trust instrument or other document relating thereto or that trust instrument and that other document taken together, and governing the establishment and operation of the registered scheme; "the guidelines" (指引) means guidelines issued under section 6H; (Added 4 of 1998 s. 2) "industry" (行業) includes a trade, profession, occupation or calling; (Added 4 of 1998 s. 2) "industry scheme" (行業計劃) means a provident fund scheme registered under section 21A; (Added 4 of 1998 s. 2) "Industry Schemes Committee" (行業計劃委員會) means the MPF Industry Schemes Committee established by section 6U; (Added 4 of 1998 s. 2) "Managing Director" (行政總監), in relation to the Authority, means the Managing Director appointed under section 6B, and includes any person appointed to act as Managing Director- (a) when that director is absent from Hong Kong or absent through illness or any other reason; or (b) when the office of Managing Director is vacant; (Added 4 of 1998 s. 2) "mandatory contribution" (強制性供款) means- (a) an amount that is required to be paid as a contribution to a registered scheme under section 7A or 7C; or (b) minimum MPF benefits, to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.) applies, that have been transferred to a registered scheme; (Replaced 2 of 2002 s. 2) "master trust scheme" (集成信託計劃) means a registered scheme membership of which is open to- (a) the employees of more than one employer; and (b) self-employed persons; and (c) persons who, having accrued benefits in another registered scheme, wish to have those benefits transferred to the first-mentioned scheme and; (d) persons who, having benefits in an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.), wish to have those benefits transferred to the first-mentioned scheme, (Added 2 of 2002 s. 2) but does not include an industry scheme; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "maximum level of relevant income" (最高有關入息水平) means the level of relevant income specified in Schedule 3 above which a mandatory contribution is not required to be paid to a registered scheme; (Replaced 4 of 1998 s. 2) "minimum level of relevant income" (最低有關入息水平) means the level of relevant income specified in Schedule 2 below which level an employee or self-employed person has the option of not participating in a registered scheme; (Amended 4 of 1998 s. 2) "minimum MPF benefits" (最低強制性公積金利益) has the same meaning as in section 1(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.); (Added 2 of 2002 s. 2) "occupational retirement scheme" (職業退休計劃) has the same meaning as in the Occupational Retirement Schemes Ordinance (Cap 426); (Added 4 of 1998 s. 2) "officer" (高級人員), in relation to a company, means- (a) a director of the company; or (b) the chief executive officer of the company; (Added 4 of 1998 s. 2) "oversea company" (海外公司) means a company to which Part XI of the Companies Ordinance (Cap 32) applies; (Added 4 of 1998 s. 2) "participating employer" (參與僱主) means the employer of employees who are members or prospective members of a registered scheme; (Added 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "practicable" (切實可行) means reasonably practicable; (Added 29 of 2002 s. 2) "premises" (處所) includes any place and a part of premises or a place; (Added 4 of 1998 s. 2) "preserved account" (保留帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg.); (Added 2 of 2002 s. 2) "provident fund scheme" (公積金計劃) means a scheme governed by a trust- (a) the terms of which are set out in one or more documents; and (Replaced 4 of 1998 s. 2) (b) that- (i) provides for the payment of pecuniary benefits to the members of the scheme when they reach the retirement age, or any other prescribed event occurs in relation to them; or (ii) in the case of members who die before reaching that age or before the occurrence of such an event, provides for the payment of those benefits to the personal representatives or beneficiaries of the estates of those members, (Replaced 4 of 1998 s. 2) and includes a proposed provident fund scheme; "record" (紀錄) means any record of information, however compiled, recorded or stored, and includes- (a) any book, a register and any other document containing information; and (b) any disc, tape or other article from which information is capable of being produced; (Added 4 of 1998 s. 2) "registered scheme" (註冊計劃) means a provident fund scheme registered under section 21 as an employer sponsored scheme or a master trust scheme or registered under section 21A as an industry scheme; (Replaced 4 of 1998 s. 2) "the regulations" (《規例》) means regulations made under section 46 and in force; (Added 4 of 1998 s. 2) "relevant employee" (有關僱員) means an employee of 18 years of age or over and below retirement age; "relevant income" (有關入息) means- (a) in the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (other than a housing allowance or other housing benefit), expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap 57); (b) in the case of a self-employed person, income of that person as ascertained in accordance with the regulations; (Amended 4 of 1998 s. 2) "remuneration" (酬金) includes travel and subsistence allowances; (Added 4 of 1998 s. 2) "retirement age" (退休年齡), in relation to an employee or self-employed person, means 65 years of age or, if the regulations prescribe an earlier age, that earlier age; (Amended 4 of 1998 s. 2; 2 of 2002 s. 2) "the rules" (《規則》) means rules made under section 47 and in force; (Added 4 of 1998 s. 2) "scheme" (計劃) means a provident fund scheme; "scheme member" (計劃成員), in relation to a registered scheme, means a person who has a beneficial interest in the registered scheme; "self-employed person" (自僱人士) means a person whose relevant income (otherwise than in the capacity as an employee) derives from his production (in whole or in part) of goods or services in Hong Kong, or his trade in goods or services in or from Hong Kong; "service provider" (服務提供者), in relation to a provident fund scheme, means an investment manager, custodian of scheme assets or other person appointed or engaged by the trustee of the scheme to provide services for the purposes of the scheme, and includes a person to whom the provision of those services is delegated by such a manager, custodian or other person, but does not include a person appointed or so engaged as an auditor, solicitor or actuary; (Added 4 of 1998 s. 2) "share" (股份) means a share in the capital of a company, and includes the stock or any part of the stock of the company; (Added 4 of 1998 s. 2) "spouse" (配偶), in relation to a person, includes a person of the opposite sex with whom the person is cohabiting in a bona fide domestic relationship as man and wife; (Added 4 of 1998 s. 2) "total incapacity" (完全喪失行為能力), in relation to a scheme member, means permanent unfitness to perform the kind of work that the member was last performing before becoming incapacitated; (Added 4 of 1998 s. 2. Amended 29 of 2002 s. 2) "trustee" (受託人) includes a prospective trustee; "voluntary contribution" (自願性供款) means a contribution paid to a registered scheme in accordance with section 11; (Added 4 of 1998 s. 2) "voting share" (有表決權股份), in relation to a company, means an issued share in the company that confers a right to vote, not being a right to vote that is exercisable only in one or more of the following circumstances- (a) during a period during which a dividend (or part of a dividend) in respect of the share is in arrears; (b) on a proposal by the company to redeem or purchase its own shares; (c) on a proposal by the company to reduce its share capital; (d) on a proposal that affects rights attached to the share; (e) on a proposal to wind up the company; (f) on a proposal for the disposal of the whole of the company's property, business and undertaking; (g) during the winding up of the company. (Added 4 of 1998 s. 2) "working day" (工作日) means any day other than- (a) a public holiday; (b) a gale warning day or black rainstorm warning day within the meaning of section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1). (Added 2 of 2002 s. 2) (Amended 4 of 1998 s. 2) (2) If relevant employees- (a) are engaged in an industry for which a provident fund scheme is registered as an industry scheme; and (b) employed in that industry by an employer on a day to day basis or for a fixed period of less than 60 days, the Authority may, by order published in the Gazette, declare those employees to be casual employees for the purposes of this Ordinance. (Added 4 of 1998 s. 2) (3) For the avoidance of doubt, it is hereby declared that an amount that is paid as a contribution to a registered scheme contingently on the basis that the amount will later constitute a mandatory contribution to the scheme shall for all purposes be treated as a mandatory contribution to the scheme (and the provisions of this Ordinance shall apply accordingly) unless and until it is certain that the amount will not constitute a mandatory contribution to the scheme. (Added 2 of 2002 s. 2) "accrued benefits" (累算權益) "administer" (管理) "Advisory Committee" (諮詢委員會) "Appeal Board" (上訴委員會) "apprentice" (學徒) "approved trustee" (核准受託人) "associate" (有聯繫者) "associated company" (有聯繫公司) "Authority" (管理局) "authorized person" (獲授權人) "casual employee" (臨時僱員) "chief executive officer" (行政總裁) "close relative" (近親) "company" (公司) "compensation fund" (補償基金) "conditions" (條件) "contract of employment" (僱傭合約) "contribution account" (供款帳戶) "controller" (控權人) "corporation" (法團) "Court" "employment" (僱用、受僱) "employee" (僱員) "employer" (僱主) "employer sponsored scheme" (僱主營辦計劃) "exempt person" (獲豁免人士) "functions" (職能) "governing rules" (管限規則) "the guidelines" (指引) "industry" (行業) "industry scheme" (行業計劃) "Industry Schemes Committee" (行業計劃委員會) "Managing Director" (行政總監) "mandatory contribution" (強制性供款) "master trust scheme" (集成信託計劃) "maximum level of relevant income" (最高有關入息水平) "minimum level of relevant income" (最低有關入息水平) "minimum MPF benefits" (最低強制性公積金利益) "occupational retirement scheme" (職業退休計劃) "officer" (高級人員) "oversea company" (海外公司) "participating employer" (參與僱主) "practicable" (切實可行) "premises" (處所) "preserved account" (保留帳戶) "provident fund scheme" (公積金計劃) "record" (紀錄) "registered scheme" (註冊計劃) "the regulations" (《規例》) "relevant employee" (有關僱員) "relevant income" (有關入息) "remuneration" (酬金) "retirement age" (退休年齡) "the rules" (《規則》) "scheme" (計劃) "scheme member" (計劃成員) "self-employed person" (自僱人士) "service provider" (服務提供者) "share" (股份) "spouse" (配偶) "total incapacity" (完全喪失行為能力) "trustee" (受託人) "voluntary contribution" (自願性供款) "voting share" (有表決權股份) "working day" (工作日) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 2 Interpretation VerDate:15/02/2002 (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算權益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, including sums derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; (Amended 2 of 2002 s. 2) "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (諮詢委員會) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上訴委員會) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (學徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受託人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "associate" (有聯繫者), in relation to a company or other body corporate, means a person specified in Schedule 8; "associated company" (有聯繫公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (獲授權人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (臨時僱員) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer" (行政總裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近親), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2) "company" (公司)- (a) means- (i) a company within the meaning of the Companies Ordinance (Cap 32); or (ii) an oversea company; (b) includes a corporation in the case of- (i) the definitions of "associated company", "chief executive officer", "controller", "officer", "share" and "voting share"; and (ii) the provisions of section 44(1), section 7(2) of Part 2 of Schedule 1A and Schedule 8; (Replaced 2 of 2002 s. 2) "compensation fund" (補償基金) means the compensation fund established in accordance with section 17; (Added 4 of 1998 s. 2) "conditions" (條件) means reasonable conditions; (Added 2 of 2002 s. 2) "contract of employment" (僱傭合約) has the same meaning as in the Employment Ordinance (Cap 57), and "employment" (僱用、受僱) shall be construed accordingly; "controller" (控權人), in relation to a company, means any of the following persons- (a) the directors of the company; (b) a person in accordance with whose instructions those directors are accustomed to act; (c) the chief executive officer of the company; (d) a natural person who, alone or together with, a close relative, partner or employee of the person, or a company of which the person is a director, or through a nominee, controls at least 15 per cent of the voting shares of the company; (e) another company that, alone or with any associate, or any employee of an associate, of that other company, or through a nominee, controls at least 15 per cent of the voting shares of the first-mentioned company; (Added 4 of 1998 s. 2) "corporation" (法團) means a body corporate which is incorporated in a place outside Hong Kong and is not an oversea company; (Added 2 of 2002 s. 2) "Court" means the Court of First Instance; (Added 4 of 1998 s. 2) "employee" (僱員) has the same meaning as in the Employment Ordinance (Cap 57), other than a person excluded by section 4(2) of that Ordinance, and includes an apprentice and a former employee; "employer" (僱主) means any person who has entered into a contract of employment to employ another person as his employee; "employer sponsored scheme" (僱主營辦計劃) means a registered scheme membership of which is- (a) in the case of an employer who is not a company, open only to the employees of that employer; or (b) in the case of an employer that is a company, open only to the employees of that company or an associated company; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "exempt person" (獲豁免人士) means a person or class of persons construed in accordance with section 4; "functions" (職能) includes powers, authorities and duties; (Added 4 of 1998 s. 2) "governing rules" (管限規則), in relation to a registered scheme, means those rules and provisions contained in a trust instrument or other document relating thereto or that trust instrument and that other document taken together, and governing the establishment and operation of the registered scheme; "the guidelines" (指引) means guidelines issued under section 6H; (Added 4 of 1998 s. 2) "industry" (行業) includes a trade, profession, occupation or calling; (Added 4 of 1998 s. 2) "industry scheme" (行業計劃) means a provident fund scheme registered under section 21A; (Added 4 of 1998 s. 2) "Industry Schemes Committee" (行業計劃委員會) means the MPF Industry Schemes Committee established by section 6U; (Added 4 of 1998 s. 2) "Managing Director" (行政總監), in relation to the Authority, means the Managing Director appointed under section 6B, and includes any person appointed to act as Managing Director- (a) when that director is absent from Hong Kong or absent through illness or any other reason; or (b) when the office of Managing Director is vacant; (Added 4 of 1998 s. 2) "mandatory contribution" (強制性供款) means- (a) an amount that is required to be paid as a contribution to a registered scheme under section 7A or 7C; or (b) minimum MPF benefits, to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.) applies, that have been transferred to a registered scheme; (Replaced 2 of 2002 s. 2) "master trust scheme" (集成信託計劃) means a registered scheme membership of which is open to- (a) the employees of more than one employer; and (b) self-employed persons; and (c) persons who, having accrued benefits in another registered scheme, wish to have those benefits transferred to the first-mentioned scheme and; (d) persons who, having benefits in an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.), wish to have those benefits transferred to the first-mentioned scheme, (Added 2 of 2002 s. 2) but does not include an industry scheme; (Replaced 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "maximum level of relevant income" (最高有關入息水平) means the level of relevant income specified in Schedule 3 above which a mandatory contribution is not required to be paid to a registered scheme; (Replaced 4 of 1998 s. 2) "minimum level of relevant income" (最低有關入息水平) means the level of relevant income specified in Schedule 2 below which level an employee or self-employed person has the option of not participating in a registered scheme; (Amended 4 of 1998 s. 2) "minimum MPF benefits" (最低強制性公積金利益) has the same meaning as in section 1(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.); (Added 2 of 2002 s. 2) "occupational retirement scheme" (職業退休計劃) has the same meaning as in the Occupational Retirement Schemes Ordinance (Cap 426); (Added 4 of 1998 s. 2) "officer" (高級人員), in relation to a company, means- (a) a director of the company; or (b) the chief executive officer of the company; (Added 4 of 1998 s. 2) "oversea company" (海外公司) means a company to which Part XI of the Companies Ordinance (Cap 32) applies; (Added 4 of 1998 s. 2) "participating employer" (參與僱主) means the employer of employees who are members or prospective members of a registered scheme; (Added 4 of 1998 s. 2. Amended 2 of 2002 s. 2) "premises" (處所) includes any place and a part of premises or a place; (Added 4 of 1998 s. 2) "preserved account" (保留帳戶) has the same meaning as in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg.); (Added 2 of 2002 s. 2) "provident fund scheme" (公積金計劃) means a scheme governed by a trust- (a) the terms of which are set out in one or more documents; and (Replaced 4 of 1998 s. 2) (b) that- (i) provides for the payment of pecuniary benefits to the members of the scheme when they reach the retirement age, or any other prescribed event occurs in relation to them; or (ii) in the case of members who die before reaching that age or before the occurrence of such an event, provides for the payment of those benefits to the personal representatives or beneficiaries of the estates of those members, (Replaced 4 of 1998 s. 2) and includes a proposed provident fund scheme; "record" (紀錄) means any record of information, however compiled, recorded or stored, and includes- (a) any book, a register and any other document containing information; and (b) any disc, tape or other article from which information is capable of being produced; (Added 4 of 1998 s. 2) "registered scheme" (註冊計劃) means a provident fund scheme registered under section 21 as an employer sponsored scheme or a master trust scheme or registered under section 21A as an industry scheme; (Replaced 4 of 1998 s. 2) "the regulations" (《規例》) means regulations made under section 46 and in force; (Added 4 of 1998 s. 2) "relevant employee" (有關僱員) means an employee of 18 years of age or over and below retirement age; "relevant income" (有關入息) means- (a) in the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (other than a housing allowance or other housing benefit), expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap 57); (b) in the case of a self-employed person, income of that person as ascertained in accordance with the regulations; (Amended 4 of 1998 s. 2) "remuneration" (酬金) includes travel and subsistence allowances; (Added 4 of 1998 s. 2) "retirement age" (退休年齡), in relation to an employee or self-employed person, means 65 years of age or, if the regulations prescribe an earlier age, that earlier age; (Amended 4 of 1998 s. 2; 2 of 2002 s. 2) "the rules" (《規則》) means rules made under section 47 and in force; (Added 4 of 1998 s. 2) "scheme" (計劃) means a provident fund scheme; "scheme member" (計劃成員), in relation to a registered scheme, means a person who has a beneficial interest in the registered scheme; "self-employed person" (自僱人士) means a person whose relevant income (otherwise than in the capacity as an employee) derives from his production (in whole or in part) of goods or services in Hong Kong, or his trade in goods or services in or from Hong Kong; "service provider" (服務提供者), in relation to a provident fund scheme, means an investment manager, custodian of scheme assets or other person appointed or engaged by the trustee of the scheme to provide services for the purposes of the scheme, and includes a person to whom the provision of those services is delegated by such a manager, custodian or other person, but does not include a person appointed or so engaged as an auditor, solicitor or actuary; (Added 4 of 1998 s. 2) "share" (股份) means a share in the capital of a company, and includes the stock or any part of the stock of the company; (Added 4 of 1998 s. 2) "spouse" (配偶), in relation to a person, includes a person of the opposite sex with whom the person is cohabiting in a bona fide domestic relationship as man and wife; (Added 4 of 1998 s. 2) "total incapacity" (完全喪失行為能力), in relation to a scheme member, means permanent unfitness to perform the kind of work that the member was performing immediately before becoming incapacitated; (Added 4 of 1998 s. 2) "trustee" (受託人) includes a prospective trustee; "voluntary contribution" (自願性供款) means a contribution paid to a registered scheme in accordance with section 11; (Added 4 of 1998 s. 2) "voting share" (有表決權股份), in relation to a company, means an issued share in the company that confers a right to vote, not being a right to vote that is exercisable only in one or more of the following circumstances- (a) during a period during which a dividend (or part of a dividend) in respect of the share is in arrears; (b) on a proposal by the company to redeem or purchase its own shares; (c) on a proposal by the company to reduce its share capital; (d) on a proposal that affects rights attached to the share; (e) on a proposal to wind up the company; (f) on a proposal for the disposal of the whole of the company's property, business and undertaking; (g) during the winding up of the company. (Added 4 of 1998 s. 2) "working day" (工作日) means any day other than- (a) a public holiday; (b) a gale warning day or black rainstorm warning day within the meaning of section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1). (Added 2 of 2002 s. 2) (Amended 4 of 1998 s. 2) (2) If relevant employees- (a) are engaged in an industry for which a provident fund scheme is registered as an industry scheme; and (b) employed in that industry by an employer on a day to day basis or for a fixed period of less than 60 days, the Authority may, by order published in the Gazette, declare those employees to be casual employees for the purposes of this Ordinance. (Added 4 of 1998 s. 2) (3) For the avoidance of doubt, it is hereby declared that an amount that is paid as a contribution to a registered scheme contingently on the basis that the amount will later constitute a mandatory contribution to the scheme shall for all purposes be treated as a mandatory contribution to the scheme (and the provisions of this Ordinance shall apply accordingly) unless and until it is certain that the amount will not constitute a mandatory contribution to the scheme. (Added 2 of 2002 s. 2) "accrued benefits" (累算權益) "administer" (管理) "Advisory Committee" (諮詢委員會) "Appeal Board" (上訴委員會) "apprentice" (學徒) "approved trustee" (核准受託人) "associate" (有聯繫者) "associated company" (有聯繫公司) "Authority" (管理局) "authorized person" (獲授權人) "casual employee" (臨時僱員) "chief executive officer" (行政總裁) "close relative" (近親) "company" (公司) "compensation fund" (補償基金) "conditions" (條件) "contract of employment" (僱傭合約) "controller" (控權人) "corporation" (法團) "Court" "employment" (僱用、受僱) "employee" (僱員) "employer" (僱主) "employer sponsored scheme" (僱主營辦計劃) "exempt person" (獲豁免人士) "functions" (職能) "governing rules" (管限規則) "the guidelines" (指引) "industry" (行業) "industry scheme" (行業計劃) "Industry Schemes Committee" (行業計劃委員會) "Managing Director" (行政總監) "mandatory contribution" (強制性供款) "master trust scheme" (集成信託計劃) "maximum level of relevant income" (最高有關入息水平) "minimum level of relevant income" (最低有關入息水平) "minimum MPF benefits" (最低強制性公積金利益) "occupational retirement scheme" (職業退休計劃) "officer" (高級人員) "oversea company" (海外公司) "participating employer" (參與僱主) "premises" (處所) "preserved account" (保留帳戶) "provident fund scheme" (公積金計劃) "record" (紀錄) "registered scheme" (註冊計劃) "the regulations" (《規例》) "relevant employee" (有關僱員) "relevant income" (有關入息) "remuneration" (酬金) "retirement age" (退休年齡) "the rules" (《規則》) "scheme" (計劃) "scheme member" (計劃成員) "self-employed person" (自僱人士) "service provider" (服務提供者) "share" (股份) "spouse" (配偶) "total incapacity" (完全喪失行為能力) "trustee" (受託人) "voluntary contribution" (自願性供款) "voting share" (有表決權股份) "working day" (工作日) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 2 Interpretation VerDate:24/07/1998 (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算權益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (諮詢委員會) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上訴委員會) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (學徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受託人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "associate" (有聯繫者), in relation to a company or other body corporate, means a person specified in Schedule 8; "associated company" (有聯繫公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (獲授權人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (臨時僱員) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer " (行政總裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近親), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2) "company" (公司) means- (a) a company within the meaning of the Companies Ordinance (Cap 32); or (b) an oversea company; (Added 4 of 1998 s. 2) "compensation fund" (補償基金) means the compensation fund established in accordance with section 17; (Added 4 of 1998 s. 2) "contract of employment" (僱傭合約) has the same meaning as in the Employment Ordinance (Cap 57), and "employment" (僱用、受僱) shall be construed accordingly; "controller" (控權人), in relation to a company, means any of the following persons- (a) the directors of the company; (b) a person in accordance with whose instructions those directors are accustomed to act; (c) the chief executive officer of the company; (d) a natural person who, alone or together with, a close relative, partner or employee of the person, or a company of which the person is a director, or through a nominee, controls at least 15 per cent of the voting shares of the company; (e) another company that, alone or with any associate, or any employee of an associate, of that other company, or through a nominee, controls at least 15 per cent of the voting shares of the first-mentioned company; (Added 4 of 1998 s. 2) "Court" means the Court of First Instance; (Added 4 of 1998 s. 2) "employee" (僱員) has the same meaning as in the Employment Ordinance (Cap 57), other than a person excluded by section 4(2) of that Ordinance, and includes an apprentice and a former employee; "employer" (僱主) means any person who has entered into a contract of employment to employ another person as his employee; "employer sponsored scheme" (僱主營辦計劃) means a registered scheme membership of which is- (a) in the case of an employer who is not a company, open only to the relevant employees of that employer; or (b) in the case of an employer that is a company, open only to the relevant employees of that company or an associated company; (Replaced 4 of 1998 s. 2) "exempt person" (獲豁免人士) means a person or class of persons construed in accordance with section 4; "functions" (職能) includes powers, authorities and duties; (Added 4 of 1998 s. 2) "governing rules" (管限規則), in relation to a registered scheme, means those rules and provisions contained in a trust instrument or other document relating thereto or that trust instrument and that other document taken together, and governing the establishment and operation of the registered scheme; "the guidelines" (指引) means guidelines issued under section 6H; (Added 4 of 1998 s. 2) "industry" (行業) includes a trade, profession, occupation or calling; (Added 4 of 1998 s. 2) "industry scheme" (行業計劃) means a provident fund scheme registered under section 21A; (Added 4 of 1998 s. 2) "Industry Schemes Committee" (行業計劃委員會) means the MPF Industry Schemes Committee established by section 6U; (Added 4 of 1998 s. 2) "Managing Director" (行政總監), in relation to the Authority, means the Managing Director appointed under section 6B, and includes any person appointed to act as Managing Director- (a) when that director is absent from Hong Kong or absent through illness or any other reason; or (b) when the office of Managing Director is vacant; (Added 4 of 1998 s. 2) "mandatory contribution" (強制性供款) means an amount that is required to be paid as a contribution to a registered scheme under section 7A or 7C of this Ordinance; (Added 4 of 1998 s. 2) "master trust scheme" (集成信託計劃) means a registered scheme membership of which is open to- (a) the relevant employees of more than one employer; and (b) self-employed persons; and (c) persons who, having accrued benefits in another registered scheme, wish to have those benefits transferred to the first-mentioned scheme, but does not include an industry scheme; (Replaced 4 of 1998 s. 2) "maximum level of relevant income" (最高有關入息水平) means the level of relevant income specified in Schedule 3 above which a mandatory contribution is not required to be paid to a registered scheme; (Replaced 4 of 1998 s. 2) "minimum level of relevant income" (最低有關入息水平) means the level of relevant income specified in Schedule 2 below which level an employee or self-employed person has the option of not participating in a registered scheme; (Amended 4 of 1998 s. 2) "occupational retirement scheme" (職業退休計劃) has the same meaning as in the Occupational Retirement Schemes Ordinance (Cap 426); (Added 4 of 1998 s. 2) "officer" (高級人員), in relation to a company, means- (a) a director of the company; or (b) the chief executive officer of the company; (Added 4 of 1998 s. 2) "oversea company" (海外公司) means a company to which Part XI of the Companies Ordinance (Cap 32) applies; (Added 4 of 1998 s. 2) "participating employer" (參與僱主) means the employer of relevant employees who are members or prospective members of a registered scheme; (Added 4 of 1998 s. 2) "premises" (處所) includes any place and a part of premises or a place; (Added 4 of 1998 s. 2) "provident fund scheme" (公積金計劃) means a scheme governed by a trust- (a) the terms of which are set out in one or more documents; and (Replaced 4 of 1998 s. 2) (b) that- (i) provides for the payment of pecuniary benefits to the members of the scheme when they reach the retirement age, or any other prescribed event occurs in relation to them; or (ii) in the case of members who die before reaching that age or before the occurrence of such an event, provides for the payment of those benefits to the personal representatives or beneficiaries of the estates of those members, (Replaced 4 of 1998 s. 2) and includes a proposed provident fund scheme; "record" (紀錄) means any record of information, however compiled, recorded or stored, and includes- (a) any book, a register and any other document containing information; and (b) any disc, tape or other article from which information is capable of being produced; (Added 4 of 1998 s. 2) "registered scheme" (註冊計劃) means a provident fund scheme registered under section 21 as an employer sponsored scheme or a master trust scheme or registered under section 21A as an industry scheme; (Replaced 4 of 1998 s. 2) "the regulations" (《規例》) means regulations made under section 46 and in force; (Added 4 of 1998 s. 2) "relevant employee" (有關僱員) means an employee of 18 years of age or over and below retirement age; "relevant income" (有關入息) means- (a) in the case of a relevant employee, any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (other than a housing allowance or other housing benefit), expressed in monetary terms, paid or payable by an employer (directly or indirectly) to that relevant employee in consideration of his employment under that contract, but does not include severance payments or long service payments under the Employment Ordinance (Cap 57); (b) in the case of a self-employed person, income of that person as ascertained in accordance with the regulations; (Amended 4 of 1998 s. 2) "remuneration" (酬金) includes travel and subsistence allowances; (Added 4 of 1998 s. 2) "retirement age" (退休年齡), in relation to a relevant employee or self-employed person, means 65 years of age or, if the regulations prescribe an earlier age, that earlier age; (Amended 4 of 1998 s. 2) "the rules" (《規則》) means rules made under section 47 and in force; (Added 4 of 1998 s. 2) "scheme" (計劃) means a provident fund scheme; "scheme member" (計劃成員), in relation to a registered scheme, means a person who has a beneficial interest in the registered scheme; "self-employed person" (自僱人士) means a person whose relevant income (otherwise than in the capacity as an employee) derives from his production (in whole or in part) of goods or services in Hong Kong, or his trade in goods or services in or from Hong Kong; "service provider" (服務提供者), in relation to a provident fund scheme, means an investment manager, custodian of scheme assets or other person appointed or engaged by the trustee of the scheme to provide services for the purposes of the scheme, and includes a person to whom the provision of those services is delegated by such a manager, custodian or other person, but does not include a person appointed or so engaged as an auditor, solicitor or actuary; (Added 4 of 1998 s. 2) "share" (股份) means a share in the capital of a company, and includes the stock or any part of the stock of the company; (Added 4 of 1998 s. 2) "spouse" (配偶), in relation to a person, includes a person of the opposite sex with whom the person is cohabiting in a bona fide domestic relationship as man and wife; (Added 4 of 1998 s. 2) "total incapacity" (完全喪失行為能力), in relation to a scheme member, means permanent unfitness to perform the kind of work that the member was performing immediately before becoming incapacitated; (Added 4 of 1998 s. 2) "trustee" (受託人) includes a prospective trustee; "voluntary contribution" (自願性供款) means a contribution paid to a registered scheme in accordance with section 11; (Added 4 of 1998 s. 2) "voting share" (有表決權股份), in relation to a company, means an issued share in the company that confers a right to vote, not being a right to vote that is exercisable only in one or more of the following circumstances- (a) during a period during which a dividend (or part of a dividend) in respect of the share is in arrears; (b) on a proposal by the company to redeem or purchase its own shares; (c) on a proposal by the company to reduce its share capital; (d) on a proposal that affects rights attached to the share; (e) on a proposal to wind up the company; (f) on a proposal for the disposal of the whole of the company's property, business and undertaking; (g) during the winding up of the company. (Added 4 of 1998 s. 2) (Amended 4 of 1998 s. 2) (2) If relevant employees- (a) are engaged in an industry for which a provident fund scheme is registered as an industry scheme; and (b) employed in that industry by an employer on a day to day basis or for a fixed period of less than 60 days, the Authority may, by order published in the Gazette, declare those employees to be casual employees for the purposes of this Ordinance. (Added 4 of 1998 s. 2) "accrued benefits" (累算權益) "administer" (管理) "Advisory Committee" (諮詢委員會) "Appeal Board" (上訴委員會) "apprentice" (學徒) "approved trustee" (核准受託人) "associate" (有聯繫者) "associated company" (有聯繫公司) "Authority" (管理局) "authorized person" (獲授權人) "casual employee" (臨時僱員) "chief executive officer " (行政總裁) "close relative" (近親) "company" (公司) "compensation fund" (補償基金) "contract of employment" (僱傭合約) "employment" (僱用、受僱) "controller" (控權人) "Court" "employee" (僱員) "employer" (僱主) "employer sponsored scheme" (僱主營辦計劃) "exempt person" (獲豁免人士) "functions" (職能) "governing rules" (管限規則) "the guidelines" (指引) "industry" (行業) "industry scheme" (行業計劃) "Industry Schemes Committee" (行業計劃委員會) "Managing Director" (行政總監) "mandatory contribution" (強制性供款) "master trust scheme" (集成信託計劃) "maximum level of relevant income" (最高有關入息水平) "minimum level of relevant income" (最低有關入息水平) "occupational retirement scheme" (職業退休計劃) "officer" (高級人員) "oversea company" (海外公司) "participating employer" (參與僱主) "premises" (處所) "provident fund scheme" (公積金計劃) "record" (紀錄) "registered scheme" (註冊計劃) "the regulations" (《規例》) "relevant employee" (有關僱員) "relevant income" (有關入息) "remuneration" (酬金) "retirement age" (退休年齡) "the rules" (《規則》) "scheme" (計劃) "scheme member" (計劃成員) "self-employed person" (自僱人士) "service provider" (服務提供者) "share" (股份) "spouse" (配偶) "total incapacity" (完全喪失行為能力) "trustee" (受託人) "voluntary contribution" (自願性供款) "voting share" (有表決權股份) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 3 Application VerDate:24/07/1998 This Ordinance binds the Government. MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 4 Exemptions VerDate:15/02/2002 (1) The persons specified in Part I of Schedule 1 are exempt from the provisions of this Ordinance to the extent described therein. (2) The Chief Executive in Council may, from time to time, specify in Part II of Schedule 1 the persons or classes of persons who shall be exempt from all or part of the provisions of this Ordinance (as identified or contained in the specification), and may vary, alter or repeal that specification. (Amended 4 of 1998 s. 2) (3) Subject to subsections (4) and (5) and section 11(1) and (2), any person entering Hong Kong for the purpose of being employed or self-employed- (Amended 2 of 2002 s. 3) (a) for a limited period only; or (b) who is a member of a provident, pension, retirement or superannuation scheme (however described) of a place outside Hong Kong, shall be exempt from the provisions of this Ordinance. (4) The regulations may make provision for the purposes of this section and may, in particular, specify the circumstances in which the exemption of a person referred to in subsection (3) is to apply. (Replaced 4 of 1998 s. 2) (5) In this section, "limited period" (有限期間) means a period determined for the purposes of this section in accordance with the regulations. (Replaced 4 of 1998 s. 2) "limited period" (有限期間) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 4 Exemptions VerDate:01/12/2000 (1) The persons specified in Part I of Schedule 1 are exempt from the provisions of this Ordinance to the extent described therein. (2) The Chief Executive in Council may, from time to time, specify in Part II of Schedule 1 the persons or classes of persons who shall be exempt from all or part of the provisions of this Ordinance (as identified or contained in the specification), and may vary, alter or repeal that specification. (Amended 4 of 1998 s. 2) (3) Subject to subsections (4) and (5), any person entering Hong Kong for the purpose of being employed or self-employed- (a) for a limited period only; or (b) who is a member of a provident, pension, retirement or superannuation scheme (however described) of a place outside Hong Kong, shall be exempt from the provisions of this Ordinance. (4) The regulations may make provision for the purposes of this section and may, in particular, specify the circumstances in which the exemption of a person referred to in subsection (3) is to apply. (Replaced 4 of 1998 s. 2) (5) In this section, "limited period" (有限期間) means a period determined for the purposes of this section in accordance with the regulations. (Replaced 4 of 1998 s. 2) "limited period" (有限期間) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 5 Members of certain occupational retirement schemes to be exempted from this Ordinance VerDate:03/01/2000 Consolidated version as amended by 4 of 1998. (1) The Authority may, by certificate in writing, exempt the members, or a class of members, of an occupational retirement scheme and their employer from the operation of all, or any specified, provisions of this Ordinance and, in so doing, may specify circumstances in which the exemption is or is not to apply. (2) The Authority may grant an exemption- (a) either on its own initiative or on the application of the trustee of the occupational retirement scheme concerned or the employer whose employees are members of the scheme; and (b) subject to such conditions as the Authority considers appropriate. (3) If an exemption is granted in respect of an occupational retirement scheme, the provisions of this Ordinance, or the provisions of this Ordinance specified in the exemption certificate, do not apply to the members or relevant class of members of the scheme or to the employer of those members in relation to the scheme. (4) An exemption may be granted in respect of an occupational retirement scheme under this section whether the scheme is a defined contribution scheme or a defined benefit scheme. (5) The regulations may- (a) prescribe the circumstances in which an exemption under this section may be granted; and (b) prescribe requirements that are to be complied with as a condition for the granting of such an exemption; and (c) empower the Authority to revoke such an exemption for failure to comply with any requirements imposed as a condition of granting the exemption. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 5A Register of exempt schemes to be kept VerDate:03/01/2000 Consolidated version as amended by 4 of 1998. (1) The Authority must establish and maintain a register of occupational retirement schemes in respect of which an exemption has been granted under section 5. The register may be in such form, and contain such information, as the Authority may determine. (2) The register is to be kept at the head office of the Authority in Hong Kong. (3) Members of the public are entitled, without charge, to inspect the register during the ordinary business hours of the Authority. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6 Establishment of Mandatory Provident Fund Schemes Authority VerDate:24/07/1998 PART II MANDATORY PROVIDENT FUND SCHEMES AUTHORITY (1) There is established by this section a corporation with the corporate name of "Mandatory Provident Fund Schemes Authority". (2) The Authority- (a) has perpetual succession; and (b) may take legal proceedings and be proceeded against in its corporate name; and (c) may, for the purpose of enabling it to exercise or perform its functions- (i) acquire, hold and dispose of real and personal property; and (ii) enter into and carry out, any agreement with the Government for the management and control by the Authority of any property held, or managed and controlled, by the Government; and (iii) enter into and carry out, any agreement with the Government for the employment by, or the secondment to, the Authority of any specified public officers or specified class of public officers; and (iv) enter into, carry out, assign or accept the assignment of, vary or rescind, any contract, agreement or other obligation; and (d) may do, and be subject to, all other things that bodies corporate may do and be subject to and that are necessary for, or are incidental to, the exercise of its functions. (3) The Authority is required to have a seal. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6A Membership of Authority VerDate:24/07/1998 (1) The Authority is to consist of not fewer than 10 directors appointed by the Chief Executive. (2) Of the directors- (a) not fewer than 4 are to be executive directors; and (b) the remainder are to be non-executive directors. (3) Of the non-executive directors- (a) at least 1 but no more than 2 are to be persons who, in the opinion of the Chief Executive, represent the interests of participating employers; and (b) at least 1 but no more than 2 are to be persons who, in the opinion of the Chief Executive, represent the interests of relevant employees. (4) In appointing the directors, the Chief Executive must ensure that- (a) a majority of the directors are non-executive directors; and (b) the number of persons appointed to represent the interests of relevant employees is equal to the number of persons appointed to represent the interests of participating employers. (5) A director must exercise a reasonable degree of care and diligence so as to ensure that the Authority exercises and performs its functions properly. (6) The Authority may exercise or perform any of its functions despite a vacancy in its membership. (7) Schedule 1A has effect with respect to the directors and procedure of the Authority. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6B Managing Director of Authority VerDate:24/07/1998 (1) The Chief Executive is to appoint one of the executive directors as the Managing Director of the Authority. (2) The Managing Director- (a) is the administrative head of the Authority and is responsible, subject to the direction of the Authority, for administering the affairs of the Authority; and (b) has, subject to that direction, such other responsibilities as may be assigned by the Authority. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6C Chairperson and deputy chairperson of the Authority VerDate:24/07/1998 (1) The Chief Executive is to appoint one of the non-executive directors to be the chairperson of the Authority. (2) The Managing Director is, by virtue of holding that office, the deputy chairperson of the Authority. (3) A person holding office as chairperson of the Authority ceases to hold that office on ceasing to be a director of the Authority. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6D Authority may establish committees VerDate:24/07/1998 (1) The Authority may establish committees to give advice and assistance to the Authority in connection with any matter with which the Authority is concerned. (2) The Authority may appoint any person to be a member of a committee. A member of a committee is not required to be a director of the Authority. (3) The Authority may, at any time, remove such a member from office by notice in writing given to the member. A member of a committee may, at any time, resign from membership of the committee by giving notice in writing to the Authority. (4) The procedure for convening meetings of a committee and for the conduct of business at those meetings is to be as determined by the Authority or (subject to any determination of the Authority) by the committee. (5) In exercising its functions, a committee is required to comply with any direction given by the Authority. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6E Functions of Authority VerDate:15/02/2002 (1) The functions of the Authority are as follows- (a) to be responsible for ensuring compliance with this Ordinance; (b) to register provident fund schemes as registered schemes; (c) to approve qualified persons to be approved trustees of registered schemes; (d) to regulate the affairs and activities of approved trustees and to ensure as far as reasonably practicable that those trustees administer the registered schemes for which they are responsible in a prudent manner; (e) to make rules or guidelines for the payment of mandatory contributions and for the administration of registered schemes with respect to those contributions; (ea) to consider and propose reforms of the law relating to occupational retirement schemes or provident fund schemes; (Added 2 of 2002 s. 4) (eb) to promote and encourage the development of the retirement scheme industry in Hong Kong, including the adoption of a high standard of conduct and sound prudent business practices by trustees and other service providers; (Added 2 of 2002 s. 4) (f) to exercise such other functions as are conferred or imposed on the Authority by or under this Ordinance or any other Ordinance. (2) The Authority has such ancillary powers as may be necessary to enable it to exercise its functions. (3) The Chief Executive may give directions, either generally or in a particular case, with respect to the exercise by the Authority of its functions. The Authority must comply with any such directions unless they are inconsistent with this Ordinance. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6E Functions of Authority VerDate:24/07/1998 (1) The functions of the Authority are as follows- (a) to be responsible for ensuring compliance with this Ordinance; (b) to register provident fund schemes as registered schemes; (c) to approve qualified persons to be approved trustees of registered schemes; (d) to regulate the affairs and activities of approved trustees and to ensure as far as reasonably practicable that those trustees administer the registered schemes for which they are responsible in a prudent manner; (e) to make rules or guidelines for the payment of mandatory contributions and for the administration of registered schemes with respect to those contributions; (f) to exercise such other functions as are conferred or imposed on the Authority by or under this Ordinance or any other Ordinance. (2) The Authority has such ancillary powers as may be necessary to enable it to exercise its functions. (3) The Chief Executive may give directions, either generally or in a particular case, with respect to the exercise by the Authority of its functions. The Authority must comply with any such directions unless they are inconsistent with this Ordinance. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6F Authority may delegate functions VerDate:24/07/1998 (1) The Authority may delegate any of its functions (other than this power of delegation) to a committee established under section 6D or to a designated person. (2) In this section- "designated person" (指定人士) means a director or employee of the Authority or a person of a class prescribed by the regulations. (3) Schedule 1B has effect in relation to a delegation under this section. (Added 4 of 1998 s. 2) "designated person" (指定人士) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6G Power to appoint staff and consultants VerDate:24/07/1998 (1) The Authority may employ such staff as it requires to exercise or perform its functions. (2) The Authority may, after consultation with the Financial Secretary, fix the salaries, wages and other conditions of employment of its staff. (3) The Authority may enter into arrangements (additional to those provided for by this Ordinance) for the provision of retirement benefits to its staff and their dependants spouses and children. Those arrangements may (but are not required to) include provisions requiring members of the Authority's staff to make contributions towards those benefits from their own funds. (4) The Authority may engage consultants for the purposes of obtaining expert advice. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6H Authority may issue guidelines VerDate:24/07/1998 (1) The Authority may issue guidelines for the guidance of approved trustees, service providers, participating employers and their employees, self-employed persons and other persons concerned with this Ordinance. (2) A guideline- (a) may consist of a code, standard, rule, specification or provision relating to provident fund schemes or a class of such schemes; and (b) may apply, incorporate or refer to any document that has been published by a person, either as in force at the time when it is issued under this section or as amended or published from time to time. (3) A guideline may require persons (including persons belonging to a class) specified in the guideline to give to the Authority information or documents of a kind specified in the guideline. The guideline may only specify information or documents of a kind that the Authority reasonably requires for the exercise or performance of its functions. This subsection has effect whether or not regulations are made for the purposes of section 21C (2)(k), 22A(2)(b) or 46(1A)(t). (4) The Authority must publish a guideline issued under this section in the Gazette or in some other publication determined by the Authority. (5) The Authority may amend or revoke a guideline issued under this section. Subsection (4) applies to the amendment or revocation of a guideline in the same way as it applies to the issue of a guideline. (6) A person does not incur a civil or criminal liability only because the person has contravened a guideline issued under this section. However, if in any legal proceedings the court is satisfied that such a guideline is relevant to determining a matter that is in issue in the proceedings- (a) the guideline is admissible in evidence in the proceedings; and (b) proof that the person contravened or did not contravene the guideline may be relied on by any party to the proceedings as tending to establish or negate the matter. (7) In any legal proceedings, a document that purports to be a copy of a guideline issued under this section is, in the absence of evidence to the contrary, to be presumed to be a true copy of the guideline. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6I Authority to prepare annual report VerDate:12/03/1999 (1) As soon as practicable after the end of each financial year of the Authority, the Authority must prepare a report as to- (a) the operation of this Ordinance during that year; and (b) the activities of the Authority during that year. (2) As soon as practicable after preparing a report in accordance with this section, the Authority must deliver the report to the Financial Secretary, together with- (a) the financial statements of the Authority for the financial year to which the report relates; and (b) the report of the Authority's auditor on those statements. (3) The Financial Secretary may publish the documents delivered in accordance with subsection (2) in such manner as the Financial Secretary thinks fit. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6J Authority to prepare corporate plan VerDate:03/08/1999 (1) The Authority must, before the end of each financial year of the Authority, prepare a corporate plan for its next financial year. (2) A corporate plan must specify- (a) the objectives of the Authority's activities for the financial year concerned; and (b) the nature and scope of the activities to be undertaken in order to achieve those objectives; and (c) a budget of estimated expenditure for achieving those objectives. (3) Before completing the preparation of a corporate plan, the Authority must submit a draft of the plan for approval by the Financial Secretary and must take into account any comments made by the Financial Secretary on the draft. (4) As soon as practicable after completing the preparation of a corporate plan, the Authority must deliver the plan to the Financial Secretary. (5) The Financial Secretary may publish the corporate plan delivered in accordance with subsection (4) in such manner as the Financial Secretary thinks appropriate. (6) The Authority may also, if it thinks fit, attach to a corporate plan a proposed corporate plan for 1 or more financial years following the financial year to which the first-mentioned plan relates. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6K Preparation of other reports by Authority VerDate:12/03/1999 (1) The Authority may, whenever it considers necessary, provide the Financial Secretary with a report as to any improvements that it considers to be necessary for the effective or efficient operation of the Authority. (2) The Financial Secretary may, from time to time, request the Authority to provide the Financial Secretary with a report as to- (a) the operation of this Ordinance; or (b) the activities of the Authority. (3) The Authority must comply with a request made under subsection (2) as soon as practicable after receiving it. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6L Financial year of the Authority VerDate:12/03/1999 Financial provisions The financial year of the Authority is- (a) the period beginning with the commencement of this section and ending with 31 March next following; and (b) the period of 12 months ending on 31 March in each subsequent year. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6M MPFA Administration Account VerDate:18/07/2008 (1) The Authority must establish and maintain at a bank located in Hong Kong an account called in English the "MPFA Administration Account" and in Chinese "強制性公積金計劃管理局行政帳戶". (2) There is payable into the Account all money received by the Authority (other than money paid to or recovered by the Authority for the benefit of a scheme member), including interest received in respect of investments and all money directed to be paid into the Account by this or any other Ordinance. (Amended 30 of 2008 s. 2) (3) There is payable from the Account all payments made on account of the Authority or otherwise required to meet the expenditure incurred in relation to the functions of the Authority (including the remuneration of the Managing Director and the other staff of the Authority) and all money directed to be paid from the Account by this or any other Ordinance. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6M MPFA Administration Account VerDate:12/03/1999 (1) The Authority must establish and maintain at a bank located in Hong Kong an account called in English the "MPFA Administration Account" and in Chinese "強制性公積金計劃管理局行政帳戶". (2) There is payable into the Account all money received by the Authority (other than money recovered by the Authority for the benefit of a scheme member), including interest received in respect of investments and all money directed to be paid into the Account by this or any other Ordinance. (3) There is payable from the Account all payments made on account of the Authority or otherwise required to meet the expenditure incurred in relation to the functions of the Authority (including the remuneration of the Managing Director and the other staff of the Authority) and all money directed to be paid from the Account by this or any other Ordinance. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6N Authority to keep proper accounting records VerDate:12/03/1999 (1) The Authority must keep such accounting records as correctly explain its financial transactions and financial position and so that- (a) true and fair financial statements can be prepared from time to time; and (b) those statements can be conveniently and properly audited in accordance with section 6P. (2) The Authority must ensure that the following financial statements are prepared as soon as practicable after the end of each financial year of the Authority- (a) an income and expenditure account that gives a true and fair view of the Authority's income and expenditure for that year; (b) a balance sheet as at the end of that year that provides a true and fair view of the Authority's financial position as at the end of that year. (3) The Authority must ensure that the financial statements comply with any accounting standards notified to the Authority in writing by the Financial Secretary. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6O Authority to appoint auditor VerDate:12/03/1999 (1) As soon as practicable after the commencement of this section, the Authority must appoint an auditor to audit the accounts of the Authority. (2) As soon as practicable after a vacancy occurs in the office of auditor, the Authority must appoint another auditor to fill the vacancy. (3) An appointment under this section does not take effect until it is approved by the Financial Secretary. (4) The Authority may terminate the appointment of an auditor of the Authority but only with the prior approval of the Financial Secretary. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6P Authority's financial statements to be audited VerDate:12/03/1999 (1) Not later than 6 months after the end of each financial year of the Authority, or such longer period as the Financial Secretary approves in writing, the Authority must submit the financial statements prepared for the financial year to the Authority's auditor for auditing. (2) As soon as practicable after receiving financial statements submitted by the Authority, the Authority's auditor must audit the statements and prepare a report of the audit. (3) The auditor's report must state whether or not the financial statements are, in the auditor's opinion, properly drawn up so as to provide a true and fair view of the matters referred to in section 6N(2) and in accordance with the accounting standards (if any) notified under section 6N(3) and, if not, the reasons for that opinion. (4) The Authority's auditor is entitled- (a) to have access at all reasonable times to the Authority's accounting records; and (b) to require the Managing Director and any member of the staff of the Authority to provide the auditor with such explanations and information as the auditor considers necessary for the purpose of conducting the audit. (5) As soon as practicable after completing the audit and preparing the auditor's report, the Authority's auditor must- (a) attach the report to, or endorse the report on, the financial statements that were audited; and (b) deliver those statements and the report to the Authority. (6) On receiving the audited financial statements and auditor's report on those statements, the Authority must deliver a copy of those documents to the Financial Secretary. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6Q Investment of surplus funds VerDate:12/03/1999 The Authority may invest money held in the MPFA Administration Account in any manner in which trust funds may be lawfully invested or in any other manner approved by the Financial Secretary. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6QA Authority may borrow money VerDate:15/02/2002 The Authority may, with the approval of the Financial Secretary, borrow money temporarily, on such security or other conditions as it considers expedient, for the purposes of- (a) the settlement of transactions in securities; (b) acquiring an overdraft banking facility; (c) dealing with an emergency; or (d) dealing with any other circumstances which could not have been foreseen. (Added 2 of 2002 s. 5) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6R Establishment of Advisory Committee VerDate:24/07/1998 Advisory Committee (1) There is established by this section a board called in English the "Mandatory Provident Fund Schemes Advisory Committee" and in Chinese "強制性公積金計劃諮詢委員會". (2) The Advisory Committee is to consist of- (a) an executive director of the Authority designated by the Authority; and (b) no fewer than 9, and no more than 11, other members appointed by the Chief Executive. (3) The Chief Executive is to appoint one of the members of the Advisory Committee to be its chairperson and another of its members to be its deputy chairperson. (4) In appointing persons under subsection (2)(b), the Chief Executive must ensure that included among those persons are- (a) one or more persons who, in the Chief Executive's opinion, have knowledge of, or experience in, investments and financial management; and (b) one or more persons who, in the Chief Executive's opinion, have knowledge of, or experience in, the conduct of retirement benefit schemes; and (c) one or more persons who, in the Chief Executive's opinion, represent the interests of participating employers; and (d) one or more persons who, in the Chief Executive's opinion, represent the interests of relevant employees, and that the number of persons appointed to represent the interests of relevant employees is equal to the number of persons appointed to represent the interests of participating employers. (5) The Chief Executive must consult with the Authority before appointing the persons referred to in subsection (2)(b). (6) The Authority must publish in the Gazette a notice of the appointment of members of the Advisory Committee. (7) The appointed members hold office for such periods, and on such terms, as the Chief Executive may specify in the documents by which they are appointed. (8) The Chief Executive may, at any time, remove an appointed member from office by notice given to the member in writing. (9) An appointed member may, at any time, resign from membership of the Advisory Committee by notice in writing given to the Chief Executive. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6S Meetings of the Advisory Committee VerDate:24/07/1998 (1) The procedure for convening meetings of the Advisory Committee and for conducting business at those meetings is, subject to this section, to be as determined by that Committee. The chairperson is to convene the first meeting of the Advisory Committee. (2) A meeting of the Advisory Committee is to be presided over by- (a) the chairperson; and (b) in the absence of the chairperson, the deputy chairperson; and (c) in the absence of the chairperson and deputy chairperson, a member elected by the members present at the meeting. (3) The quorum for a meeting of the Advisory Committee is a majority of its members for the time being. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6T Functions of Advisory Committee VerDate:24/07/1998 (1) The functions of the Advisory Committee are- (a) to make recommendations to the Authority as to the operation of this Ordinance and the effectiveness or efficiency of the Authority; and (b) to advise the Authority with respect to any matter referred to that Committee by the Authority. (2) The Advisory Committee has such ancillary powers as may be necessary to enable it to exercise its functions. (3) The Advisory Committee may exercise its functions at the request of the Authority or, with the approval of the Financial Secretary, on its own initiative. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6U Establishment of Industry Schemes Committee VerDate:03/01/2000 Consolidated version as amended by 4 of 1998. Industry Schemes Committee (1) There is established for the purposes of this Ordinance a committee called in English the "MPF Industry Schemes Committee" and in Chinese "強制性公積金行業計劃委員會". (2) The Industry Schemes Committee is to consist of the following members- (a) a chairperson; (b) at least 1, but no more than 2, representatives of the approved trustee of each industry scheme nominated by that trustee; (c) an executive director of the Authority designated by the Authority; (d) not fewer than 6 other persons. (3) The members (other than the member referred to in subsection (2)(c)) are to be appointed by the Financial Secretary. (4) The Financial Secretary must consult with the Authority before appointing the members referred to in subsection (2)(a) and (d). (5) In appointing the persons referred to in subsection (2)(d), the Financial Secretary must ensure that included among those persons are- (a) one or more persons who, in the Financial Secretary's opinion, represent the interests of participating employers; and (b) one or more persons who, in the Financial Secretary's opinion, represent the interests of relevant employees, and that the number of persons appointed to represent the interests of relevant employees is equal to the number of persons appointed to represent the interests of participating employers. (6) The Authority must publish in the Gazette a notice of the appointment of members of the Industry Schemes Committee. (7) The appointed members hold office for such periods, and on such terms, as the Financial Secretary may specify in the documents by which they are appointed. (8) The Financial Secretary may, at any time, remove an appointed member from office by notice given to the member in writing. (9) An appointed member may, at any time, resign from membership of the Industry Schemes Committee by notice in writing given to the Financial Secretary. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6V Meetings of Industry Schemes Committee VerDate:03/01/2000 Consolidated version as amended by 4 of 1998. (1) The procedure for convening meetings of the Industry Schemes Committee and for conducting business at those meetings is, subject to this section, to be as determined by that Committee. The chairperson is to convene the first meeting of the Committee. (2) The quorum for a meeting of the Industry Schemes Committee is a majority of the members and must include- (a) for each industry scheme, at least 1 of the members referred to in section 6U(2)(b); and (b) the member referred to in section 6U(2)(c). (3) A meeting of the Industry Schemes Committee is to be presided over by- (a) the chairperson; and (b) in the absence of the chairperson, a member elected by the members present at the meeting. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6W Functions of Industry Schemes Committee VerDate:03/01/2000 Consolidated version as amended by 4 of 1998. (1) The functions of the Industry Schemes Committee are as follows- (a) to make recommendations to the Authority as to a matter relating to the operation of industry schemes generally or to the operation of any particular industry scheme; (b) to examine reports provided by the Authority and by approved trustees of industry schemes to ascertain whether or not those trustees are complying with the requirements and standards that apply to industry schemes; (c) to determine whether or not the provisions of this Ordinance that apply to industry schemes in particular are effective and, if they are found to be ineffective, to advise the Authority as to the measures that need to be taken to render them effective; (d) to advise the Authority as to ways in which the administration or operation of industry schemes could be improved; (e) to advise the Authority as to ways in which the interests of members of industry schemes could be protected or better protected. (2) The Industry Schemes Committee has such ancillary powers as may be necessary to enable it to exercise its functions. (3) The Industry Schemes Committee may exercise its functions at the request of the Authority or, with the approval of the Financial Secretary, on its own initiative. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7 Employer to arrange for employees to become scheme members, etc. VerDate:18/07/2008 PART III MANDATORY CONTRIBUTIONS AND VOLUNTARY CONTRIBUTIONS (Amended 30 of 2008 s. 3) (1) Every employer of a relevant employee must take all practicable steps to ensure that the employee becomes a member of a registered scheme within the permitted period after the relevant time. (1A) Every employer of a relevant employee must take all practicable steps to ensure that, after the expiration of the permitted period- (a) if the employer has complied with subsection (1) in respect of the employee, the employee continues to be a member of a registered scheme throughout his employment with that employer; (b) if the employer has not complied with subsection (1) in respect of the employee, the employee becomes a member of a registered scheme and thereafter continues to be a member of a registered scheme throughout his employment with that employer. (Added 29 of 2002 s. 3) (2) Nothing in this section prevents an employer of 2 or more relevant employees from procuring for those employees membership in different registered schemes. (3) For the purposes of subsection (1)- (a) the permitted period is the period specified by the Authority by notice published in the Gazette for the purposes of this section; and (b) the relevant time is- (i) in the case of an employer who is employing a relevant employee at the commencement of this section, the time of that commencement; and (ii) in the case of an employer who enters into a contract of employment with a relevant employee after that commencement, the beginning of the date on which the employment begins. (Amended 2 of 2002 s. 6) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7 Employer to arrange for employees to become scheme members, etc. VerDate:19/07/2002 PART III CONTRIBUTIONS (1) Every employer of a relevant employee must take all practicable steps to ensure that the employee becomes a member of a registered scheme within the permitted period after the relevant time. (1A) Every employer of a relevant employee must take all practicable steps to ensure that, after the expiration of the permitted period- (a) if the employer has complied with subsection (1) in respect of the employee, the employee continues to be a member of a registered scheme throughout his employment with that employer; (b) if the employer has not complied with subsection (1) in respect of the employee, the employee becomes a member of a registered scheme and thereafter continues to be a member of a registered scheme throughout his employment with that employer. (Added 29 of 2002 s. 3) (2) Nothing in this section prevents an employer of 2 or more relevant employees from procuring for those employees membership in different registered schemes. (3) For the purposes of subsection (1)- (a) the permitted period is the period specified by the Authority by notice published in the Gazette for the purposes of this section; and (b) the relevant time is- (i) in the case of an employer who is employing a relevant employee at the commencement of this section, the time of that commencement; and (ii) in the case of an employer who enters into a contract of employment with a relevant employee after that commencement, the beginning of the date on which the employment begins. (Amended 2 of 2002 s. 6) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7 Employer to arrange for employees to become scheme members VerDate:15/02/2002 PART III CONTRIBUTIONS (1) Every employer of a relevant employee must take all practicable steps to ensure that the employee becomes a member of a registered scheme within the permitted period after the relevant time. (2) Nothing in this section prevents an employer of 2 or more relevant employees from procuring for those employees membership in different registered schemes. (3) For the purposes of subsection (1)- (a) the permitted period is the period specified by the Authority by notice published in the Gazette for the purposes of this section; and (b) the relevant time is- (i) in the case of an employer who is employing a relevant employee at the commencement of this section, the time of that commencement; and (ii) in the case of an employer who enters into a contract of employment with a relevant employee after that commencement, the beginning of the date on which the employment begins. (Amended 2 of 2002 s. 6) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7 Employer to arrange for employees to become scheme members VerDate:01/12/2000 PART III CONTRIBUTIONS (1) Every employer of a relevant employee must take all practicable steps to ensure that the employee becomes a member of a registered scheme within the permitted period after the relevant time. (2) Nothing in this section prevents an employer of 2 or more relevant employees from procuring for those employees membership in different registered schemes. (3) For the purposes of subsection (1)- (a) the permitted period is the period specified by the Authority by notice published in the Gazette for the purposes of this section; and (b) the relevant time is- (i) in the case of an employer who is employing a relevant employee at the commencement of this section, the time of that commencement; and (ii) in the case of an employer who enters into a contract of employment with a relevant employee after that commencement, the date on which the employment begins. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7A Employer and relevant employees required to contribute to registered scheme VerDate:01/02/2003 For the transitional provision relating to the amendments made by the Mandatory Provident Fund Schemes (Amendment) (No. 2) Ordinance 2002 (29 of 2002), see section 15 of that Ordinance. (1) An employer who, at the commencement of this section, is employing a relevant employee must, for each contribution period occurring after that commencement- (a) from the employer's own funds, contribute to the relevant registered scheme the amount determined in accordance with subsection (3); and (b) subject to subsection (7), deduct from the employee's relevant income for that period as a contribution by the employee to that scheme the amount determined in accordance with subsection (4). (2) An employer who enters into a contract of employment with a relevant employee after the commencement of this section must, for each contribution period occurring after the commencement of the employment- (a) from the employer's own funds, contribute to the relevant registered scheme the amount determined in accordance with subsection (3); and (b) subject to subsection (7), deduct from the employee's relevant income for that period as a contribution by the employee to the scheme the amount determined in accordance with subsection (4). (3) For the purposes of subsections (1)(a) and (2)(a), the amount to be contributed by an employer for a contribution period is- (a) in the case of a relevant employee (other than a casual employee who is a member of an industry scheme), an amount equal to the prescribed percentage of the employee's relevant income for that period; and (b) in the case of a casual employee who is a member of an industry scheme, an amount determined by reference to a scale specified in an order made in accordance with subsection (6). (4) For the purposes of subsections (1)(b) and (2)(b), the amount that an employer is required to deduct in respect of a relevant employee for a contribution period is- (a) in the case of a relevant employee (other than a casual employee who is a member of an industry scheme), an amount equal to the prescribed percentage of the employee's relevant income for that period; and (b) in the case of a casual employee who is a member of an industry scheme, an amount determined by reference to a scale specified in an order made in accordance with subsection (6). (5) For the purposes of subsections (3)(a) and (4)(a), the prescribed percentage is 5 per cent or, if some other percentage is prescribed by the regulations, that other percentage. The regulations may prescribe different percentages for those purposes. (6) For the purposes of subsections (3)(b) and (4)(b), the Authority must, as the occasion requires, prescribe by order published in the Gazette scales of amounts of contributions by reference to amounts of relevant income of casual employees who are members of industry schemes. (7) An employer must not, in respect of an employee (not being a casual employee) whose wage period- (a) is not more than 1 month, make a deduction under subsection (2)(b) in respect of the employee's relevant income earned for any wage period that commences on or before the 30th day of employment after the relevant time; (b) is more than 1 month, make a deduction under subsection (2)(b) in respect of the employee's relevant income earned for the period commencing from the relevant time and ending on the last day of the calendar month in which the 30th day of employment after the relevant time falls. (Replaced 29 of 2003 s. 4) (8) An employer must ensure that contributions required to be made in accordance with this section in respect of an employee of the employer are paid to the approved trustee of the registered scheme of which the employee is a member within the period and in the manner prescribed by the regulations. (9) A relevant employee does not have a claim against the employee's employer only because that employer has, in accordance with this section, deducted amounts from the employee's income and has paid those amounts to the approved trustee of a registered scheme. However, nothing in this subsection affects any entitlement that the employee has in respect of those amounts under the rules governing the scheme. (10) In this section- "contribution period" (供款期)- (a) in relation to an employer of a relevant employee (not being a casual employee), means each period for which the employer pays or should pay relevant income to the employee, and includes such a period occurring within, or that coincides with, the first 60 days of employment after the relevant time; and (b) in relation to a relevant employee (not being a casual employee) whose wage period- (i) is not more than 1 month, means each period for which the employer pays or should pay relevant income to the employee, but does not include any wage period commencing on or before the 30th day of employment after the relevant time; (ii) is more than 1 month, means each period for which the employer pays or should pay relevant income to the employee, but does not include the period commencing from the relevant time and ending on the last day of the calendar month in which the 30th day of employment after the relevant time falls; and (Replaced 29 of 2002 s. 4) (c) in relation to an employer and a relevant employee who is a casual employee, means each period for which the employer pays or should pay relevant income to the employee; (Amended 2 of 2002 s. 7) "relevant time" (有關時間) has the same meaning as in section 7(3); (Amended 29 of 2002 s. 4) "wage period" (工資期), in relation to an employee and his employer, means the period for which the employee is paid, or should be paid, relevant income by the employer. (Added 29 of 2002 s. 4) (11) This section is subject to sections 9 and 10. (Added 4 of 1998 s. 2) "contribution period" (供款期) "relevant time" (有關時間) "wage period" (工資期) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7A Employer and relevant employees required to contribute to registered scheme VerDate:15/02/2002 (1) An employer who, at the commencement of this section, is employing a relevant employee must, for each contribution period occurring after that commencement- (a) from the employer's own funds, contribute to the relevant registered scheme the amount determined in accordance with subsection (3); and (b) subject to subsection (7), deduct from the employee's relevant income for that period as a contribution by the employee to that scheme the amount determined in accordance with subsection (4). (2) An employer who enters into a contract of employment with a relevant employee after the commencement of this section must, for each contribution period occurring after the commencement of the employment- (a) from the employer's own funds, contribute to the relevant registered scheme the amount determined in accordance with subsection (3); and (b) subject to subsection (7), deduct from the employee's relevant income for that period as a contribution by the employee to the scheme the amount determined in accordance with subsection (4). (3) For the purposes of subsections (1)(a) and (2)(a), the amount to be contributed by an employer for a contribution period is- (a) in the case of a relevant employee (other than a casual employee who is a member of an industry scheme), an amount equal to the prescribed percentage of the employee's relevant income for that period; and (b) in the case of a casual employee who is a member of an industry scheme, an amount determined by reference to a scale specified in an order made in accordance with subsection (6). (4) For the purposes of subsections (1)(b) and (2)(b), the amount that an employer is required to deduct in respect of a relevant employee for a contribution period is- (a) in the case of a relevant employee (other than a casual employee who is a member of an industry scheme), an amount equal to the prescribed percentage of the employee's relevant income for that period; and (b) in the case of a casual employee who is a member of an industry scheme, an amount determined by reference to a scale specified in an order made in accordance with subsection (6). (5) For the purposes of subsections (3)(a) and (4)(a), the prescribed percentage is 5 per cent or, if some other percentage is prescribed by the regulations, that other percentage. The regulations may prescribe different percentages for those purposes. (6) For the purposes of subsections (3)(b) and (4)(b), the Authority must, as the occasion requires, prescribe by order published in the Gazette scales of amounts of contributions by reference to amounts of relevant income of casual employees who are members of industry schemes. (7) An employer must not, in respect of an employee who is not a casual employee, make a deduction under subsection (1)(b) or (2)(b) in respect of the employee's relevant income earned for the first 30 days of the employee's employment after the relevant time. (Amended 2 of 2002 s. 7) (8) An employer must ensure that contributions required to be made in accordance with this section in respect of an employee of the employer are paid to the approved trustee of the registered scheme of which the employee is a member within the period and in the manner prescribed by the regulations. (9) A relevant employee does not have a claim against the employee's employer only because that employer has, in accordance with this section, deducted amounts from the employee's income and has paid those amounts to the approved trustee of a registered scheme. However, nothing in this subsection affects any entitlement that the employee has in respect of those amounts under the rules governing the scheme. (10) In this section- "contribution period" (供款期)- (a) in relation to an employer of a relevant employee (not being a casual employee), means each period for which the employer pays or should pay relevant income to the employee, and includes such a period occurring within, or that coincides with, the first 60 days of employment after the relevant time; and (b) in relation to a relevant employee (not being a casual employee), means each period for which the employer pays or should pay relevant income to the employee, but does not include such a period occurring within, or that coincides with, the first 30 days of employment after the relevant time; and (c) in relation to an employer and a relevant employee who is a casual employee, means each period for which the employer pays or should pay relevant income to the employee; (Amended 2 of 2002 s. 7) "relevant time" (有關時間) has the same meaning as in section 7(3). (11) This section is subject to sections 9 and 10. (Added 4 of 1998 s. 2) "contribution period" (供款期) "relevant time" (有關時間) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7A Employer and relevant employees required to contribute to registered scheme VerDate:01/12/2000 (1) An employer who, at the commencement of this section, is employing a relevant employee must, for each contribution period occurring after that commencement- (a) from the employer's own funds, contribute to the relevant registered scheme the amount determined in accordance with subsection (3); and (b) subject to subsection (7), deduct from the employee's relevant income for that period as a contribution by the employee to that scheme the amount determined in accordance with subsection (4). (2) An employer who enters into a contract of employment with a relevant employee after the commencement of this section must, for each contribution period occurring after the commencement of the employment- (a) from the employer's own funds, contribute to the relevant registered scheme the amount determined in accordance with subsection (3); and (b) subject to subsection (7), deduct from the employee's relevant income for that period as a contribution by the employee to the scheme the amount determined in accordance with subsection (4). (3) For the purposes of subsections (1)(a) and (2)(a), the amount to be contributed by an employer for a contribution period is- (a) in the case of a relevant employee (other than a casual employee who is a member of an industry scheme), an amount equal to the prescribed percentage of the employee's relevant income for that period; and (b) in the case of a casual employee who is a member of an industry scheme, an amount determined by reference to a scale specified in an order made in accordance with subsection (6). (4) For the purposes of subsections (1)(b) and (2)(b), the amount that an employer is required to deduct in respect of a relevant employee for a contribution period is- (a) in the case of a relevant employee (other than a casual employee who is a member of an industry scheme), an amount equal to the prescribed percentage of the employee's relevant income for that period; and (b) in the case of a casual employee who is a member of an industry scheme, an amount determined by reference to a scale specified in an order made in accordance with subsection (6). (5) For the purposes of subsections (3)(a) and (4)(a), the prescribed percentage is 5 per cent or, if some other percentage is prescribed by the regulations, that other percentage. The regulations may prescribe different percentages for those purposes. (6) For the purposes of subsections (3)(b) and (4)(b), the Authority must, as the occasion requires, prescribe by order published in the Gazette scales of amounts of contributions by reference to amounts of relevant income of casual employees who are members of industry schemes. (7) An employer must not, in respect of an employee who is not a casual employee, make a deduction under subsection (1)(b) or (2)(b) in respect of the employee's income for the first 30 days of the employee's employment after the relevant time. (8) An employer must ensure that contributions required to be made in accordance with this section in respect of an employee of the employer are paid to the approved trustee of the registered scheme of which the employee is a member within the period and in the manner prescribed by the regulations. (9) A relevant employee does not have a claim against the employee's employer only because that employer has, in accordance with this section, deducted amounts from the employee's income and has paid those amounts to the approved trustee of a registered scheme. However, nothing in this subsection affects any entitlement that the employee has in respect of those amounts under the rules governing the scheme. (10) In this section- "contribution period" (供款期)- (a) in relation to an employer of a relevant employee (not being a casual employee), means each period for which the employer pays relevant income to the employee, and includes such a period occurring within, or that coincides with, the first 60 days of employment after the relevant time; and (b) in relation to a relevant employee (not being a casual employee), means each period for which the employer pays relevant income to the employee, but does not include such a period occurring within, or that coincides with, the first 30 days of employment after the relevant time; and (c) in relation to an employer and a relevant employee who is a casual employee, means each period for which the employer pays relevant income to the employee; "relevant time" (有關時間) has the same meaning as in section 7(3). (11) This section is subject to sections 9 and 10. (Added 4 of 1998 s. 2) "contribution period" (供款期) "relevant time" (有關時間) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7AA Employer required to pay contributions to Authority where relevant employee not member of registered scheme VerDate:01/12/2008 (1) This section applies if— (a) at the date of commencement* of this section; or (b) at any time after that date, a relevant employee of an employer is not a member of a registered scheme as required by section 7. (2) The employer must, in the case referred to in subsection (1)(a), for each contribution period ending on or after that commencement during which the employee is not such a member— (a) from the employer’s own funds, contribute to a registered scheme that is to be determined in accordance with section 7AC the amount determined in accordance with subsection (4); and (b) subject to subsection (6), deduct from the employee’s relevant income for that period as a contribution by the employee to that scheme the amount determined in accordance with subsection (4). (3) The employer must, in the case referred to in subsection (1)(b), for each contribution period ending after the date the employee becomes a relevant employee during which the employee is not such a member— (a) from the employer’s own funds, contribute to a registered scheme that is to be determined in accordance with section 7AC the amount determined in accordance with subsection (4); and (b) subject to subsection (6), deduct from the employee’s relevant income for that period as a contribution by the employee to that scheme the amount determined in accordance with subsection (4). (4) For the purposes of subsections (2) and (3), the amount to be contributed by an employer, or to be deducted from an employee’s relevant income, for a contribution period is an amount equal to the prescribed percentage of the employee’s relevant income for that contribution period. (5) For the purposes of subsection (4), the prescribed percentage is 5 per cent or, if some other percentage is prescribed by the regulations, that other percentage. The regulations may prescribe different percentages for those purposes. (6) An employer must not, in respect of an employee (not being a casual employee) whose wage period— (a) is not more than 1 month, make a deduction under subsection (2)(b) or (3)(b) in respect of the employee’s relevant income earned for any wage period that commences on or before the 30th day of employment after the relevant time; or (b) is more than 1 month, make a deduction under subsection (2)(b) or (3)(b) in respect of the employee’s relevant income earned for the period commencing from the relevant time and ending on the last day of the calendar month in which the 30th day of employment after the relevant time falls. (7) An employer must ensure that contributions required to be made in accordance with this section in respect of an employee of the employer are paid to the Authority on or before the contribution day. (8) This section is subject to sections 9 and 10. (9) A relevant employee does not have a claim against the employee’ s employer for payment of the amounts that the employer has, in accordance with this section, deducted from the employee’s relevant income and paid to the Authority. However, nothing in this subsection affects any entitlement that the employee has in respect of those amounts under the rules governing the scheme to which the Authority has paid those amounts. (10) For the avoidance of doubt, an employer is not required to make a contribution in respect of a relevant employee under section 7A for a contribution period for which a contribution is payable in respect of the employee to the Authority under this section. (11) In this section— “contribution day” (供款日)— (a) in relation to a contribution payable for a contribution period by an employer in respect of a relevant employee who is not a casual employee, means, subject to subsection (12)— (i) where the contribution period is wholly or partly within the permitted period after the relevant time, the tenth day after— (A) the last day of the month in which the permitted period ends; or (B) the last day of the month in which the contribution period ends, whichever is the later; or (ii) where the contribution period is not wholly or partly within the permitted period after the relevant time, the tenth day after the last day of the month in which the contribution period ends; and (b) in relation to a contribution payable for a contribution period by an employer in respect of a relevant employee who is a casual employee, means, subject to subsection (12)— (i) where the contribution period is wholly or partly within the permitted period after the relevant time, the tenth day after the last day of the contribution period in which the permitted period ends; or (ii) where the contribution period is not wholly or partly within the permitted period after the relevant time, the tenth day after the last day of the contribution period; “contribution period” (供款期) has the same meaning as in section 7A(10); “permitted period” (特准限期) has the same meaning as in section 7(3)(a); “relevant time” (有關時間) has the same meaning as in section 7(3)(b); “wage period” (工資期) has the same meaning as in section 7A(10). (12) If the contribution day as determined under subsection (11) is a Saturday, a public holiday, or a gale warning day or black rainstorm warning day within the meaning of section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1), then the contribution day means the next following day, not being a Saturday, a public holiday or such a gale warning day or black rainstorm warning day. (Added 18 of 2008 s. 5) ___________________________________________________________________________ ______________ Note: * Commencement date: 1 December 2008. “contribution day” (供款日) “contribution period” (供款期) “permitted period” (特准限期) “relevant time” (有關時間) “wage period” (工資期) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7AB Contributions paid under section 7AA be accompanied by statement VerDate:01/12/2008 (1) When paying contributions to the Authority under section 7AA, an employer must ensure that the contributions are accompanied by a statement, in a form specified or approved by the Authority, for the contribution period or periods to which the contributions relate. (2) The statement must include the following information— (a) the name and business registration number of the employer; (b) the address and telephone number of the employer; (c) the name of the contact person of the employer and the means by which the person can be contacted; (d) the registered scheme nominated by the employer to which the contributions are to be paid; (e) the name of the relevant employee and his Hong Kong Identity Card number or, if he is not the holder of a Hong Kong Identity Card, the number and issuing agency of any passport held by him; (f) the contribution period or periods to which the contributions relate; (g) the amount of relevant income of the relevant employee for the contribution period or periods; (h) the amount of contributions paid under section 7AA(2)(a) or (3)(a) by the employer in respect of the relevant employee for the contribution period or periods; (i) the amount of contributions deducted from the relevant income of the relevant employee under section 7AA(2)(b) or (3)(b) by the employer for the contribution period or periods; (j) the date of commencement of the employment of the relevant employee; (k) such other information as may be specified by the Authority. (Added 18 of 2008 s. 5) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7AC Authority to pay contributions received under section 7AA to approved trustee VerDate:01/12/2008 The Authority must pay any contribution that is paid to it in respect of a relevant employee under section 7AA— (a) where the employee is still employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employer for this purpose; or (ii) if the employer has not nominated a registered scheme, to the approved trustee of the registered scheme nominated by the employee for this purpose; or (iii) if neither the employer nor the employee has nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate; or (b) where the employee has ceased to be employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employee for this purpose; or (ii) if the employee has not nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate. (Added 18 of 2008 s. 5) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7AD Approved trustee’s duties with regard to contributions received from Authority VerDate:01/12/2008 (1) An approved trustee of a registered scheme must, on receiving a contribution paid in respect of a relevant employee from the Authority under section 7AC, check that the arithmetical calculation of the contribution payable by the employer concerned is correct. (2) An approved trustee must also take such action with regard to the contribution as may be reasonably required by the Authority, including, in the case of a discrepancy between the relevant calculation in respect of the contribution and the amount paid by the employer concerned as a contribution, requiring the employer to rectify the discrepancy. (3) On being satisfied that the amount of the contribution paid by the employer concerned is correct, the approved trustee must credit the amount to the relevant employee’s account. (4) An approved trustee who, without reasonable excuse, fails to comply with subsection (3) commits an offence and is liable on conviction to a fine at level 5. (Added 18 of 2008 s. 5) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7AE Certain contributions due for payment to the Authority on commencement of section 7AA VerDate:01/12/2008 (1) This section applies if at any time during the specified period, a relevant employee of an employer was not a member of a registered scheme as required by section 7. (2) On the commencement date, the amount of contributions that— (a) would have been payable by the employer under section 7A to a registered scheme for each contribution period occurring in the specified period during which the relevant employee was not a member of a registered scheme, had the employee been such a member for the relevant contribution period; and (b) remains unpaid as at the commencement date, becomes due for payment to the Authority. (3) For the avoidance of doubt, this section applies to an employer even if the relevant employee is no longer employed with the employer on the commencement date. (4) In this section— *“commencement date” (生效日期) means the date of commencement of section 7AA; “contribution period” (供款期) has the same meaning as in section 7A(10) except that it does not include the contribution period that begins on a date before the commencement date and ending on or after the commencement date; “specified period” (指明期間) means the period beginning on 1 December 2000 and ending on the day immediately before the commencement date. (Added 18 of 2008 s. 5) ___________________________________________________________________________ ______________ Note: * Commencement date: 1 December 2008. “commencement date” (生效日期) “contribution period” (供款期) “specified period” (指明期間) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7B Sections 7, 7A and 7AA not to apply to certain employees* VerDate:01/12/2008 Sections 7, 7A and 7AA do not, except in the case of a casual employee, apply to or in respect of an employee who is employed by an employer for less than 60 days. (Added 4 of 1998 s. 2. Amended 18 of 2008 s. 6) ___________________________________________________________________________ ______________ Note: * (Amended 18 of 2008 s. 6) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7B Sections 7 and 7A not to apply to certain employees VerDate:01/12/2000 Sections 7 and 7A do not, except in the case of a casual employee, apply to or in respect of an employee who is employed by an employer for less than 60 days. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7C Duty of self-employed person to become scheme member VerDate:15/02/2002 (1) Every self-employed person- (a) must, within the permitted period after the relevant time, become a member of a registered scheme; and (b) must, in accordance with the provisions of the Mandatory Provident Fund Schemes (General) Regulation (Cap. 485 sub. leg. A), before the end of each contribution period, pay to the approved trustee of the scheme from the person's own funds for the person's own benefit a contribution equal to the prescribed percentage of the person's relevant income. (Amended 2 of 2002 s. 8) (2) In this section- "contribution period" (供款期) means a period prescribed by the regulations as a contribution period; "permitted period" (特准限期) means the period specified by the Authority by notice published in the Gazette for the purposes of this section; "the relevant time" (有關時間) means- (a) in the case of a person who is a self-employed person at the commencement of this section, the time of that commencement; or (b) in the case of a person who becomes a self-employed person after that commencement, the beginning of the date on which the person becomes self-employed; (Amended 2 of 2002 s. 8) (3) For the purposes of subsection (1)(b), the prescribed percentage is 5 per cent or, if some other percentage is prescribed by the regulations, that other percentage. The regulations may prescribe different percentages for those purposes. (4) For the purposes of this section, the regulations may- (a) require self-employed persons to report their relevant income to the Authority; and (b) prescribe the matters that must be included in those reports. (5) This section is subject to sections 9 and 10. (6) This section does not apply to a self-employed person who is- (a) less than 18 years of age; or (b) of or more than retirement age. (Added 2 of 2002 s. 8) (Added 4 of 1998 s. 2) "contribution period" (供款期) "permitted period" (特准限期) "the relevant time" (有關時間) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7C Duty of self-employed person to become scheme member VerDate:01/12/2000 (1) Every self-employed person- (a) must, within the permitted period after the relevant time, become a member of a registered scheme; and (b) must, before the end of each contribution period, pay to the approved trustee of the scheme from the person's own funds for the person's own benefit a contribution equal to the prescribed percentage of the person's relevant income. (2) In this section- "contribution period" (供款期) means a period prescribed by the regulations as a contribution period; "permitted period" (特准限期) means the period specified by the Authority by notice published in the Gazette for the purposes of this section; "the relevant time" (有關時間) means- (a) in the case of a person who is a self-employed person at the commencement of this section, the time of that commencement; or (b) in the case of a person who becomes a self-employed person after that commencement, the date on which the person becomes self-employed. (3) For the purposes of subsection (1)(b), the prescribed percentage is 5 per cent or, if some other percentage is prescribed by the regulations, that other percentage. The regulations may prescribe different percentages for those purposes. (4) For the purposes of this section, the regulations may- (a) require self-employed persons to report their relevant income to the Authority; and (b) prescribe the matters that must be included in those reports. (5) This section is subject to sections 9 and 10. (Added 4 of 1998 s. 2) "contribution period" (供款期) "permitted period" (特准限期) "the relevant time" (有關時間) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 7D Application of Ordinance to certain employees and self-employed persons VerDate:18/01/2008 (1) If- (a) an employer enters into a contract of employment with an employee who is less than 18 years of age; and (b) the employee reaches 18 years of age on or after the date of commencement* of this section; and (c) the employer continues to employ the employee after he reaches 18 years of age, then this Ordinance applies to the employer and the employee as if they had entered into the contract of employment on the day on which the employee reaches 18 years of age and the employment had begun or commenced on that day. (2) If- (a) a person is self-employed before he is 18 years of age; and (b) he reaches 18 years of age on or after the date of commencement of this section; and (c) he continues to be self-employed after reaching 18 years of age, then this Ordinance applies to him as if he had become a self-employed person on the day on which he reaches 18 years of age. (Added 1 of 2008 s. 20) ___________________________________________________________________________ _____________ * Commencement date: 18 January 2008. MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 8 (Repealed 4 of 1998 s. 2) VerDate:01/12/2000 MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 9 Minimum level of income for contribution purposes VerDate:01/12/2008 (1) A relevant employee whose relevant income is less than the minimum level of relevant income is not required to contribute to a registered scheme but he may, if he so wishes, by notice in writing to his employer elect to do so. (2) An employer who receives a notice under subsection (1) must give effect to the election by making deductions and paying contributions in respect of the employee in accordance with section 7A. (3) A relevant employee may not make an election under subsection (1) in respect of a contribution period during which he is not a member of a registered scheme as required by section 7. (4) A self-employed person whose relevant income is less than the minimum level of relevant income is not required to contribute to a registered scheme. (Replaced 18 of 2008 s. 7) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 9 Minimum level of income for contribution purposes VerDate:01/12/2000 A relevant employee or self-employed person whose relevant income is less than the minimum level of relevant income specified in Schedule 2 is not required to contribute in relation to a registered scheme but, in the case of a relevant employee, may by notice in writing to his employer elect to do so. (Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 10 Maximum level of income for contribution purposes VerDate:01/12/2008 (1) A relevant employee whose relevant income is more than the maximum level of relevant income is not required to contribute to a registered scheme in respect of the excess relevant income but he may, if he so wishes, by notice in writing to his employer elect to do so. (2) An employer who receives a notice under subsection (1)— (a) must give effect to the election by making deductions and paying contributions in respect of the employee in accordance with section 7A; and (b) may also make contributions to the scheme in respect of that excess relevant income, but is not obliged to do so. (3) A relevant employee may not make an election under subsection (1) in respect of a contribution period during which he is not a member of a registered scheme as required by section 7. (4) A self-employed person whose relevant income is more than the maximum level of relevant income is not required to contribute to a registered scheme in respect of the excess relevant income. (Replaced 18 of 2008 s. 8) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 10 Maximum level of income for contribution purposes VerDate:01/12/2000 (1) A relevant employee or self-employed person whose relevant income is more than the maximum level of relevant income specified in Schedule 3 is not required to contribute in relation to a registered scheme in respect of the excess relevant income but, in the case of a relevant employee, may by notice in writing to his employer elect to do so. (Amended 4 of 1998 s. 2) (2) If a relevant employee referred to in subsection (1) elects to make contributions to a registered scheme in respect of the employee's excess relevant income, the employee's employer- (a) must give effect to the election by making deductions and paying contributions in respect of the employee in accordance with section 7A; and (b) may also make contributions to the scheme in respect of that excess relevant income, but is not obliged to do so. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 10A Authority to conduct review of minimum and maximum levels of relevant income every 4 years VerDate:19/07/2002 (1) The Authority must, not less than once in every period of 4 years beginning with the commencement of this section, conduct a review of the minimum level of relevant income and the maximum level of relevant income to ascertain whether or not there are grounds to amend Schedule 2 or 3 or Schedules 2 and 3. (2) Without limiting the factors which the Authority may take into account for the purposes of conducting a review mentioned in subsection (1), the Authority must take into account- (a) in respect of the minimum level of relevant income, 50 per cent of the monthly median employment earnings prevailing at the time of the review as compiled from the General Household Survey conducted by the Census and Statistics Department; and (b) in respect of the maximum level of relevant income, monthly employment earnings at 90th percentile of the monthly employment earnings distribution prevailing at the time of the review as compiled from the General Household Survey conducted by the Census and Statistics Department. (Added 29 of 2002 s. 5) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 11 Voluntary contributions VerDate:01/12/2008 (1) The employer of a person may arrange for the person to join and pay contributions to a registered scheme notwithstanding that the person is less than 18 years of age or is of or more than retirement age or is exempted under section 4(3). The employer may pay contributions to the scheme in respect of the person, but is not obliged to do so, whether or not the person pays contributions to the scheme whilst being of that age or is exempted under section 4(3). (Replaced 2 of 2002 s. 9) (2) A self-employed person may join and pay contributions to a registered scheme notwithstanding that the person is less than 18 years of age or is of or more than retirement age or is exempted under section 4(3). (Replaced 2 of 2002 s. 9) (3) A relevant employee may pay contributions to a registered scheme exceeding the amount of contribution deductible in respect of the employee under section 7A(1)(b) or (2)(b). (4) An employer may pay contributions to a registered scheme in respect of a relevant employee employed by the employer exceeding the amount of contribution required by section 7A(1)(a) or (2)(a) to be paid in respect of the employee, but is not obliged to do so, even if the employee continues to pay contributions to the scheme. (5) A self-employed person may pay contributions to a registered scheme exceeding the amount of contribution payable in respect of the person under section 7C. (6) A relevant employee or a self-employed person whose relevant income is less than the minimum level of relevant income may nevertheless contribute to a registered scheme. (Amended 18 of 2008 s. 9) (7) Any contributions- (a) paid to a registered scheme as provided by this section; or (b) consisting of any benefits, other than minimum MPF benefits to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.B) applies, of a member of an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.B), transferred to a registered scheme, are voluntary, but are subject to the governing rules of the scheme. (Replaced 2 of 2002 s. 9) (8) The provisions of this Ordinance (sections 12, 13, 14 and 15(1) to (3) excepted), and the governing rules of the scheme (in so far as those rules are not inconsistent with this Ordinance), apply to accrued benefits derived from voluntary contributions paid to a registered scheme in the same way as they apply to accrued benefits that are derived from mandatory contributions. (9) The regulations may provide for all or any of the following matters- (a) the vesting of voluntary contributions in the scheme member concerned; (b) the preservation of accrued benefits derived from voluntary contributions; (c) the transfer from one registered scheme to another or from one account within a registered scheme to another account within the same scheme of accrued benefits derived from voluntary contributions; (d) the payment to or in respect of a scheme member of accrued benefits derived from voluntary contributions. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 11 Voluntary contributions VerDate:15/02/2002 (1) The employer of a person may arrange for the person to join and pay contributions to a registered scheme notwithstanding that the person is less than 18 years of age or is of or more than retirement age or is exempted under section 4(3). The employer may pay contributions to the scheme in respect of the person, but is not obliged to do so, whether or not the person pays contributions to the scheme whilst being of that age or is exempted under section 4(3). (Replaced 2 of 2002 s. 9) (2) A self-employed person may join and pay contributions to a registered scheme notwithstanding that the person is less than 18 years of age or is of or more than retirement age or is exempted under section 4(3). (Replaced 2 of 2002 s. 9) (3) A relevant employee may pay contributions to a registered scheme exceeding the amount of contribution deductible in respect of the employee under section 7A(1)(b) or (2)(b). (4) An employer may pay contributions to a registered scheme in respect of a relevant employee employed by the employer exceeding the amount of contribution required by section 7A(1)(a) or (2)(a) to be paid in respect of the employee, but is not obliged to do so, even if the employee continues to pay contributions to the scheme. (5) A self-employed person may pay contributions to a registered scheme exceeding the amount of contribution payable in respect of the person under section 7C. (6) A relevant employee or a self-employed person whose relevant income is less than the minimum level of relevant income specified in Schedule 2 may nevertheless contribute to a registered scheme. (7) Any contributions- (a) paid to a registered scheme as provided by this section; or (b) consisting of any benefits, other than minimum MPF benefits to which section 5(1) of Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.) applies, of a member of an ORSO exempted scheme, or an ORSO registered scheme, within the meaning of section 2(1) of the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg.), transferred to a registered scheme, are voluntary, but are subject to the governing rules of the scheme. (Replaced 2 of 2002 s. 9) (8) The provisions of this Ordinance (sections 12, 13, 14 and 15(1) to (3) excepted), and the governing rules of the scheme (in so far as those rules are not inconsistent with this Ordinance), apply to accrued benefits derived from voluntary contributions paid to a registered scheme in the same way as they apply to accrued benefits that are derived from mandatory contributions. (9) The regulations may provide for all or any of the following matters- (a) the vesting of voluntary contributions in the scheme member concerned; (b) the preservation of accrued benefits derived from voluntary contributions; (c) the transfer from one registered scheme to another or from one account within a registered scheme to another account within the same scheme of accrued benefits derived from voluntary contributions; (d) the payment to or in respect of a scheme member of accrued benefits derived from voluntary contributions. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 11 Voluntary contributions VerDate:01/12/2000 (1) A person who is a member of a registered scheme and continues in employment after reaching the retirement age may continue to pay contributions to the scheme. The person's employer may also continue to pay contributions to the scheme in respect of the person, but is not obliged to do so, even if the person continues to pay contributions to the scheme. (2) A self-employed person who is a member of a registered scheme and continues in business after reaching the retirement age may continue to pay contributions to the scheme. (3) A relevant employee may pay contributions to a registered scheme exceeding the amount of contribution deductible in respect of the employee under section 7A(1)(b) or (2)(b). (4) An employer may pay contributions to a registered scheme in respect of a relevant employee employed by the employer exceeding the amount of contribution required by section 7A(1)(a) or (2)(a) to be paid in respect of the employee, but is not obliged to do so, even if the employee continues to pay contributions to the scheme. (5) A self-employed person may pay contributions to a registered scheme exceeding the amount of contribution payable in respect of the person under section 7C. (6) A relevant employee or a self-employed person whose relevant income is less than the minimum level of relevant income specified in Schedule 2 may nevertheless contribute to a registered scheme. (7) Any contributions paid to a registered scheme as provided by this section are voluntary, but are subject to the governing rules of the scheme. (8) The provisions of this Ordinance (sections 12, 13, 14 and 15(1) to (3) excepted), and the governing rules of the scheme (in so far as those rules are not inconsistent with this Ordinance), apply to accrued benefits derived from voluntary contributions paid to a registered scheme in the same way as they apply to accrued benefits that are derived from mandatory contributions. (9) The regulations may provide for all or any of the following matters- (a) the vesting of voluntary contributions in the scheme member concerned; (b) the preservation of accrued benefits derived from voluntary contributions; (c) the transfer from one registered scheme to another or from one account within a registered scheme to another account within the same scheme of accrued benefits derived from voluntary contributions; (d) the payment to or in respect of a scheme member of accrued benefits derived from voluntary contributions. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 12 Contributions to vest in scheme members as accrued benefits VerDate:19/07/2002 (1) Subject to section 12A, a contribution in respect of a member of a registered scheme vests in the member as accrued benefits as soon as it is paid to the approved trustee of the scheme. (2) Subject to subsection (2A) and section 12A, income or profits derived from the investment of the accrued benefits of a member of a registered scheme by or on behalf of the approved trustee of the scheme also (after taking into account any loss arising from any such investment) vest in the member as accrued benefits as soon as they are received by that trustee. (Amended 29 of 2002 s. 6) (2A) The reference to income or profits in subsection (2) does not include interest derived from the placing on deposit of- (a) contributions or benefits- (i) received by the approved trustee of a registered scheme in respect of a member of the scheme; and (ii) during the period that the payment of the contributions or benefits into the member's account is pending; (b) benefits- (i) moved from a constituent fund; and (ii) during the period that the investment of the benefits into another constituent fund is pending; and (c) benefits- (i) received from a constituent fund; and (ii) during the period that- (A) withdrawal of the benefits from the registered scheme concerned is pending; or (B) transfer of the benefits to another registered scheme is pending. (Added 29 of 2002 s. 6) (2B) Interest referred to in subsection (2A) must be retained by the approved trustee of the registered scheme concerned- (a) for the payment of any administrative expenses of the scheme; or (b) as income of the scheme, for the benefit of scheme members. (Added 29 of 2002 s. 6) (3) The total amount of accrued benefits vested in a scheme member from time to time is to be calculated as provided by the rules. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 12 Contributions to vest in scheme member as accrued benefits VerDate:01/12/2000 (1) Subject to section 12A, a contribution in respect of a member of a registered scheme vests in the member as accrued benefits as soon as it is paid to the approved trustee of the scheme. (2) Subject to section 12A, income or profits derived from the investment of the accrued benefits of a member of a registered scheme by or on behalf of the approved trustee of the scheme also (after taking into account any loss arising from any such investment) vest in the member as accrued benefits as soon as they are received by that trustee. (3) The total amount of accrued benefits vested in a scheme member from time to time is to be calculated as provided by the rules. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 12A Certain amounts relating to severance payments and long service payments to be paid from accrued benefits VerDate:19/07/2002 (1) If- (a) an employer has paid to or in respect of an employee a severance payment or long service payment in accordance with the Employment Ordinance (Cap 57), or a part of such a payment; and (b) accrued benefits are held in a registered scheme in respect of the employee; and (c) a part of those benefits is attributable to contributions paid to the scheme by the employer in accordance with this Ordinance, the employer may make an application in writing to the approved trustee of the scheme for payment of an amount under subsection (2). (2) As soon as practicable after receiving an application under subsection (1), the approved trustee of the registered scheme concerned must, on being satisfied as to the employer's entitlement to a payment under this subsection- (a) if the severance payment or long service payment paid to the employee is not more than the amount of the part of the employee's accrued benefits that is attributable to the employer's contributions, pay to the employer from those benefits an amount equal to the amount of that severance payment or long service payment; or (b) if that severance payment or long service payment is more than the amount of the part of the employee's accrued benefits that is attributable to the employer's contributions, pay to the employer from those benefits an amount equal to the amount of that part. This subsection is subject to subsection (5). (3) If- (a) an employer has not paid the whole of a severance payment or long service payment to or in respect of an employee as required by the Employment Ordinance (Cap 57); and (b) accrued benefits are held in a registered scheme in respect of the employee; and (c) a part of those benefits is attributable to contributions paid to the scheme by the employer in accordance with this Ordinance, an application may be made in writing by or in respect of the employee to the approved trustee of the scheme for payment of an amount under subsection (4). (4) As soon as practicable after receiving an application under subsection (3), the approved trustee of the registered scheme concerned must, on being satisfied that an employer has not paid the whole of a severance payment or long service payment required to be paid to or in respect of the employee concerned- (a) if the amount of the severance payment or long service payment that has not been paid is not more than the amount of the part of the employee's accrued benefits attributable to the employer's contributions, pay to or in respect of the employee from those benefits an amount equal to the amount of that severance payment or long service payment to the extent that it has not been paid; or (b) if the amount of the severance payment or long service payment that has not been paid is more than the amount of the part of the employee's accrued benefits attributable to the employer's contributions, pay to or in respect of the employee from those benefits an amount equal to the amount of that part. (5) If- (a) only a part of a severance payment or long service payment has been paid to or in respect of an employee; and (b) the amount of the employee's accrued benefits attributable to the employer's contributions is more than the unpaid part of the severance payment or long service payment but less than the total payment that is required to be made, the employer is entitled to be paid under subsection (2) the amount of those accrued benefits only to the extent that they exceed the unpaid part of the severance payment or long service payment. (6) If- (a) a change has occurred (whether by virtue of a sale or other disposition or by operation of law) in the ownership of a business in which a person is employed, or in a part of such a business, and either- (i) the person's contract of employment (with the substitution of the new owner of the business for the previous owner) is renewed by that new owner; or (ii) the person is re-engaged by that new owner under a new contract of employment; or (b) a person is taken into the employment of a company that is an associated company of another company by which the person was employed immediately before the person was taken into that employment, this section applies to a severance payment or long service payment, or a contribution, paid by the previous owner as if it had been paid by the new owner or the associated company. This subsection has effect whether or not the previous owner may have terminated the employee's contract in accordance with section 6 or 7 of the Employment Ordinance (Cap 57). (6A) Where- (a) subsection (6)(a) or (b) applies to a person; (b) the new owner or associated company, as the case may be, ("new employer") has assumed the liability of the previous owner or company ("previous employer") for severance payment or long service payment in respect of the person; (c) the new employer has agreed to recognize the person's length of employment with the previous employer for the purposes of that severance payment or long service payment; and (d) no accrued benefits held in a registered scheme in respect of the person have been paid in accordance with this section to the person or the previous employer, then the new employer may elect, in accordance with the regulations, to have the accrued benefits of the person held in a contribution account in that scheme transferred to an account in a registered scheme nominated by the new employer. (Added 29 of 2002 s. 7) (6B) Where a new employer has made an election under subsection (6A), then, for the purposes of that election- (a) section 7A(7) shall not apply to the new employer; and (b) paragraph (b) of the definition of "contribution period" in section 7A(10) shall be construed as if it read as follows- "(b) in relation to a relevant employee (not being a casual employee), means each period for which the employer pays or should pay relevant income to the employee; and". (Added 29 of 2002 s. 7) (7) For the purposes of subsection (6), 2 companies are taken to be associated companies if one is the subsidiary of the other, or both are subsidiaries of a further company. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 12A Certain amounts relating to severance payments and long service payments to be paid from accrued benefits VerDate:01/12/2000 (1) If- (a) an employer has paid to or in respect of an employee a severance payment or long service payment in accordance with the Employment Ordinance (Cap 57), or a part of such a payment; and (b) accrued benefits are held in a registered scheme in respect of the employee; and (c) a part of those benefits is attributable to contributions paid to the scheme by the employer in accordance with this Ordinance, the employer may make an application in writing to the approved trustee of the scheme for payment of an amount under subsection (2). (2) As soon as practicable after receiving an application under subsection (1), the approved trustee of the registered scheme concerned must, on being satisfied as to the employer's entitlement to a payment under this subsection- (a) if the severance payment or long service payment paid to the employee is not more than the amount of the part of the employee's accrued benefits that is attributable to the employer's contributions, pay to the employer from those benefits an amount equal to the amount of that severance payment or long service payment; or (b) if that severance payment or long service payment is more than the amount of the part of the employee's accrued benefits that is attributable to the employer's contributions, pay to the employer from those benefits an amount equal to the amount of that part. This subsection is subject to subsection (5). (3) If- (a) an employer has not paid the whole of a severance payment or long service payment to or in respect of an employee as required by the Employment Ordinance (Cap 57); and (b) accrued benefits are held in a registered scheme in respect of the employee; and (c) a part of those benefits is attributable to contributions paid to the scheme by the employer in accordance with this Ordinance, an application may be made in writing by or in respect of the employee to the approved trustee of the scheme for payment of an amount under subsection (4). (4) As soon as practicable after receiving an application under subsection (3), the approved trustee of the registered scheme concerned must, on being satisfied that an employer has not paid the whole of a severance payment or long service payment required to be paid to or in respect of the employee concerned- (a) if the amount of the severance payment or long service payment that has not been paid is not more than the amount of the part of the employee's accrued benefits attributable to the employer's contributions, pay to or in respect of the employee from those benefits an amount equal to the amount of that severance payment or long service payment to the extent that it has not been paid; or (b) if the amount of the severance payment or long service payment that has not been paid is more than the amount of the part of the employee's accrued benefits attributable to the employer's contributions, pay to or in respect of the employee from those benefits an amount equal to the amount of that part. (5) If- (a) only a part of a severance payment or long service payment has been paid to or in respect of an employee; and (b) the amount of the employee's accrued benefits attributable to the employer's contributions is more than the unpaid part of the severance payment or long service payment but less than the total payment that is required to be made, the employer is entitled to be paid under subsection (2) the amount of those accrued benefits only to the extent that they exceed the unpaid part of the severance payment or long service payment. (6) If- (a) a change has occurred (whether by virtue of a sale or other disposition or by operation of law) in the ownership of a business in which a person is employed, or in a part of such a business, and either- (i) the person's contract of employment (with the substitution of the new owner of the business for the previous owner) is renewed by that new owner; or (ii) the person is re-engaged by that new owner under a new contract of employment; or (b) a person is taken into the employment of a company that is an associated company of another company by which the person was employed immediately before the person was taken into that employment, this section applies to a severance payment or long service payment, or a contribution, paid by the previous owner as if it had been paid by the new owner or the associated company. This subsection has effect whether or not the previous owner may have terminated the employee's contract in accordance with section 6 or 7 of the Employment Ordinance (Cap 57). (7) For the purposes of subsection (6), 2 companies are taken to be associated companies if one is the subsidiary of the other, or both are subsidiaries of a further company. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 13 Preservation of accrued benefits derived from contributions VerDate:01/12/2000 For the purpose of preserving accrued benefits in registered schemes- (a) no trustee of a registered scheme shall pay or otherwise dispose of any part of those accrued benefits to any scheme member or any other person otherwise than in accordance with the provisions of this Ordinance; (b) no relevant employee or self-employed person shall have any right or entitlement to those accrued benefits otherwise than in accordance with the provisions of this Ordinance. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 14 Portability of accrued benefits VerDate:01/12/2000 (1) A member of an employer sponsored scheme who ceases to be an employee of an employer who is participating in the scheme must, in accordance with the regulations, elect to have the member's accrued benefits transferred to another registered scheme. This subsection does not apply if the member exercises an entitlement to have the member's accrued benefits paid in accordance with section 15 or regulations made for the purposes of that section. (2) Subject to subsection (1), and in accordance with the regulations, the accrued benefits of a member of a registered scheme may be transferred- (a) to another registered scheme to which the member is eligible to belong; or (b) to another account within the same registered scheme, but only in a circumstance permitted or required by the regulations. (3) If the accrued benefits of a member of a registered scheme are to be transferred under this section- (a) the approved trustee of the scheme; and (b) where those benefits are to be transferred to another registered scheme, the approved trustee of that other scheme, must comply with such requirements with respect to the transfer of those benefits as are prescribed by the regulations for the purposes of this subsection. (4) If a member of a registered scheme whose accrued benefits are to be transferred under this section- (a) ceases to be an employee of an employer; or (b) becomes an employee of an employer; or (c) does both of those things, the employer or employers must comply with such requirements with respect to the transfer of those benefits as are prescribed by the regulations for the purposes of this subsection. (5) The regulations may- (a) include requirements as to- (i) the notices that are to be given; and (ii) the procedure that is to be followed, in connection with the transfer of accrued benefits in accordance with this section; and (b) prescribe the procedure to be followed if a scheme member who is a relevant employee fails to comply with subsection (1). (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 15 Withdrawal of accrued benefits VerDate:18/01/2008 (1) A scheme member who has attained retirement age shall, in relation to the registered scheme of which he is a scheme member, be entitled as of right to have paid to him by the trustee of that registered scheme the entirety of his accrued benefits in the registered scheme in a lump sum. (2) A scheme member who has not attained retirement age but has attained the age specified in Schedule 7 and certifies to the trustee of the registered scheme of which he is a scheme member by statutory declaration in a form approved by the Authority that he has permanently ceased his employment or self-employment, or is otherwise included in a class of persons specified for that purpose in the regulations, shall be entitled as of right to have paid to him by the trustee of that registered scheme the entirety of his accrued benefits in the registered scheme in a lump sum. (Amended 4 of 1998 s. 2) (3) The regulations referred to in subsection (2) may specify the circumstances in which a scheme member's entitlement under that subsection may be exercised. Those circumstances include (but are not limited to)- (a) the scheme member's permanent departure from Hong Kong; and (b) the scheme member's total incapacity. (Replaced 4 of 1998 s. 2) (4) When a member of a registered scheme has died, the approved trustee of the scheme must pay the whole of the member's accrued benefits as a lump sum- (a) to the member's personal representatives; or (b) if there are no personal representatives of the member's estate or if they are unwilling to act, to such person, or to a person of such class, as is specified in the regulations. (Replaced 4 of 1998 s. 2) (5) (Repealed 1 of 2008 s. 41) (6) Except as may be prescribed by the regulations, no period of limitation prescribed by the Limitation Ordinance (Cap 347) applies to proceedings for the recovery of a member's accrued benefits that have become payable under this section. (Added 4 of 1998 s. 2) (Enacted 1995) "personal representatives" (遺產代理人) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 15 Withdrawal of accrued benefits VerDate:01/12/2000 (1) A scheme member who has attained retirement age shall, in relation to the registered scheme of which he is a scheme member, be entitled as of right to have paid to him by the trustee of that registered scheme the entirety of his accrued benefits in the registered scheme in a lump sum. (2) A scheme member who has not attained retirement age but has attained the age specified in Schedule 7 and certifies to the trustee of the registered scheme of which he is a scheme member by statutory declaration in a form approved by the Authority that he has permanently ceased his employment or self-employment, or is otherwise included in a class of persons specified for that purpose in the regulations, shall be entitled as of right to have paid to him by the trustee of that registered scheme the entirety of his accrued benefits in the registered scheme in a lump sum. (Amended 4 of 1998 s. 2) (3) The regulations referred to in subsection (2) may specify the circumstances in which a scheme member's entitlement under that subsection may be exercised. Those circumstances include (but are not limited to)- (a) the scheme member's permanent departure from Hong Kong; and (b) the scheme member's total incapacity. (Replaced 4 of 1998 s. 2) (4) When a member of a registered scheme has died, the approved trustee of the scheme must pay the whole of the member's accrued benefits as a lump sum- (a) to the member's personal representatives; or (b) if there are no personal representatives of the member's estate or if they are unwilling to act, to such person, or to a person of such class, as is specified in the regulations. (Replaced 4 of 1998 s. 2) (5) For the purposes of subsection (4), "personal representatives" (遺產代理人) has the same meaning as in the Probate and Administration Ordinance (Cap 10). (Added 4 of 1998 s. 2) (6) Except as may be prescribed by the regulations, no period of limitation prescribed by the Limitation Ordinance (Cap 347) applies to proceedings for the recovery of a member's accrued benefits that have become payable under this section. (Added 4 of 1998 s. 2) (Enacted 1995) "personal representatives" (遺產代理人) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 16 Protection of accrued benefits VerDate:01/12/2000 (1) No part of any accrued benefits in a registered scheme in respect of a scheme member shall be taken in execution of a judgment debt or be the subject of any charge, pledge, lien, mortgage, transfer, assignment or alienation by or on behalf of the scheme member and any purported disposition to the contrary is void. (Amended 4 of 1998 s. 2) (2) Subsection (1) applies only to accrued benefits derived from mandatory contributions. (Added 4 of 1998 s. 2) (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 17 Compensation for losses in respect of accrued benefits VerDate:12/03/1999 (1) The Authority is required to establish a compensation fund for the purpose of compensating members of registered schemes and other persons who have beneficial interests in those schemes for losses of accrued benefits that are attributable to misfeasance or illegal conduct committed by the approved trustees of those schemes or by other persons concerned with the administration of those schemes. (Replaced 4 of 1998 s. 2) (2) The compensation fund is to be administered by such number of administrators as the Authority may appoint for the purpose but, if there are no such administrators, the Authority must administer the compensation fund. (Replaced 4 of 1998 s. 2) (3) For the purpose of the compensation fund referred to in subsection (1) and the cost of the administration thereof, the Authority may impose such levies, and at such rates in respect thereof, to be payable by the trustee of a registered scheme out of contributions in relation to the registered scheme in accordance with, and subject to such limits as may be specified in the regulations. (Amended 4 of 1998 s. 2) (4) The regulations referred to in subsection (3) shall prescribe the rate of levy as a percentage of the value (as determined at a date or dates as may be prescribed in those regulations) of the assets of a registered scheme and may specify whether the payment of the levy is by way of a one off payment or by way of a continuing obligation. (5) Regulations may be made under section 46 for the purposes of this section. Those regulations may include provisions for- (a) the administration of the compensation fund; and (b) the appointment of persons to be administrators of that fund; and (c) the payment of claims to make good losses of accrued benefits. (Replaced 4 of 1998 s. 2) (6) The Financial Secretary may provide grants or loans out of money from the general revenue that may be provided by the Legislative Council for that purpose to the persons appointed to act as administrators of the compensation fund for the purposes of that fund and on such terms as may be specified by the Authority. (Amended 4 of 1998 s. 2) (7) Any person (including the trustee of a registered scheme) whose act or omission causes, or has caused, any loss in respect of the accrued benefits of a scheme member and which loss is subsequently compensated from the compensation fund shall be liable to repay such sum (not exceeding the amount of the loss) and interest thereon as the Court may order and that sum and interest (once recovered) shall be paid to the Authority for the purpose of reimbursing the compensation fund. (Amended 4 of 1998 s. 2) (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 17A Scheme member may claim compensation from compensation fund VerDate:01/12/2000 (1) A person who is a member of a registered scheme, or who claims to have a beneficial interest in the accrued benefits of a scheme member in such a scheme, may lodge with the Authority a claim for compensation from the compensation fund on the ground that- (a) the person has suffered a loss of accrued benefits in the scheme; and (b) the loss was attributable to misfeasance or illegal conduct committed by a person concerned with the administration of the scheme. (2) A claim- (a) must be made in writing and specify the particulars of the claim (including the name of the registered scheme concerned and the name of the approved trustee of that scheme); and (b) must be lodged with the Authority within 6 months after the claimant became aware of the loss to which the claim relates. (3) A claim that is not made in accordance with subsection (2) is barred unless the Authority otherwise determines. (4) On receiving a claim made under this section, the Authority must investigate the claim to determine its validity. (5) The Authority must dismiss a claim if, after investigating the claim, the Authority is satisfied that- (a) there are no reasonable grounds for believing that a loss of accrued benefits has occurred; or (b) if there were such grounds, there is no evidence of misfeasance or illegal conduct on the part of the trustee of the scheme or any other person referred to in subsection (1)(b). (6) If the Authority dismisses a claim, it must notify the claimant of its decision, together with a statement of the reasons for it. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 17B Application to Court VerDate:01/12/2000 (1) If the Authority reasonably believes, whether as a result of a claim made under section 17A or otherwise, that- (a) a loss of accrued benefits has occurred; and (b) there is evidence of misfeasance or illegal conduct on the part of the trustee of the scheme or some other person referred to in section 17A(1)(b); and (c) the matter has not been resolved to the satisfaction of the person who may have suffered the loss of accrued benefits, the Authority must make an application to the Court to have the matter determined by it. (2) An application under subsection (1) must contain such information, and be accompanied by such documents, as may be prescribed by the regulations for the purposes of this section. (3) If the application is made as a result of a claim made under section 17A, the application must be accompanied by a copy of the claim. (4) At the hearing of the application- (a) the approved trustee of the scheme; and (b) any person concerned with the administration of the scheme who is alleged to have committed misfeasance or to have engaged in the relevant illegal conduct, are entitled to appear and be heard in the proceedings. (5) On the hearing of an application made under this section, the Court must- (a) determine whether or not the person who is alleged to have suffered a loss of accrued benefits in the scheme concerned has in fact suffered that loss; and (b) if so, determine whether or not the loss was attributable to misfeasance or illegal conduct committed by a person concerned with the administration of the scheme. (6) If the Court makes determinations under subsection (5), it must, by order- (a) declare the fact and the date of the misfeasance or illegal conduct and the amount of compensation to be awarded; and (b) direct the administrators of the compensation fund to pay that amount to such person as, in its opinion, appears to be properly entitled to receive the amount. (7) The Court must not make an order for the payment of an amount of compensation directly to a person, unless the person has been paid or is entitled to be paid the relevant accrued benefits as provided by section 15 of the Ordinance or by regulations made for the purposes of that section. (8) The Rules Committee constituted under section 55 of the High Court Ordinance (Cap 4) may make rules, not inconsistent with this section, with respect to the making of applications under this section and the hearing and determination of those applications and may amend those rules as and when necessary. (Amended 31 of 1999 s. 3) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 17C Administrators to pay compensation to specified person VerDate:01/12/2000 (1) If the Court makes an order under section 17B for the award of compensation, the administrators of the compensation fund must pay the compensation to such person as is specified in the order. (2) The administrators of the compensation fund must pay the compensation within the period, and in the manner, prescribed by the regulations. (3) If the Court makes an order under section 17B for the award of compensation, the administrators of the compensation fund must add interest to the compensation. (4) The interest is to be calculated in accordance with the regulations. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 18 Recovery of arrears and contribution surcharges* VerDate:01/12/2008 (1) If a mandatory contribution that falls within paragraph (a) or (aa) of the definition of “mandatory contribution” in section 2(1) is not paid on or before the day by which it is required to be paid under this Ordinance, it becomes due for payment to the Authority on the expiry of that day. (Replaced 18 of 2008 s. 10) (2) If a mandatory contribution becomes due for payment to the Authority under subsection (1) or section 7AE, the person who is liable to pay the contribution is also liable to pay to the Authority as a contribution surcharge an amount determined by multiplying the arrears by the prescribed percentage rate. The prescribed percentage rate is a rate prescribed by the regulations. (Amended 29 of 2002 s. 8; 1 of 2008 s. 60; 18 of 2008 s. 10) (3) The Authority may, by proceedings brought in a court of competent jurisdiction, recover as a debt due to the Authority any arrears, together with any contribution surcharge payable under subsection (2) in respect of those arrears. (Amended 1 of 2008 s. 60) (4) In any proceedings brought under subsection (3), a certificate, purporting to be issued by the Authority, specifying the amount of the arrears, or of any contribution surcharge payable in respect of those arrears, is, in the absence of evidence to the contrary, proof of the matters specified in the certificate. (Amended 1 of 2008 s. 60) (5) The Authority must pay any arrears or contribution surcharge paid to or recovered by the Authority— (a) in the case of an employee who is still employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employer for this purpose; or (ii) if the employer has not nominated a registered scheme, to the approved trustee of the registered scheme nominated by the employee for this purpose; or (iii) if neither the employer nor the employee has nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate; or (b) in the case of an employee who has ceased to be employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employee for this purpose; or (ii) if the employee has not nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate; or (c) in the case of a self-employed person— (i) to the approved trustee of the registered scheme nominated by the self-employed person for this purpose; or (ii) if the self-employed person has not nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate. (Replaced 1 of 2008 s. 60) (6) On receiving a payment under subsection (5), an approved trustee must credit the amount of the payment to the account of the scheme member for whom the relevant mandatory contribution should have been remitted in accordance with this Part. (6A) For the purposes of this section, the regulations may— (a) prescribe the duties of approved trustees in relation to mandatory contributions, arrears and contribution surcharges received by them, including the duty to verify the calculation of any of these sums and the duty to credit these sums to specified accounts; or (b) prescribe the requirements to be complied with in relation to the recovery of arrears and contribution surcharges. (Added 1 of 2008 s. 60) (6B) For the avoidance of doubt— (a) a person’s liability to pay a contribution surcharge under subsection (2); or (b) the exercise by the Authority of its power to recover any arrears or contribution surcharge under subsection (3), is not dependent on the compliance by the approved trustee or any other person with any regulation made for the purposes of this section. (Added 1 of 2008 s. 60) (7) In this section, a reference to a mandatory contribution includes a part of such a contribution. (Replaced 4 of 1998 s. 2) ___________________________________________________________________________ ______________ Note: * (Replaced 1 of 2008 s. 60) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 18 Recovery of arrears and contribution surcharges* VerDate:01/11/2008 (1) If a mandatory contribution is not paid by the contribution day as defined in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A), it becomes due for payment to the Authority on the expiry of that day. (Replaced 1 of 2008 s. 60) (2) If a mandatory contribution becomes due for payment to the Authority, the person who is liable to pay the contribution is also liable to pay to the Authority as a contribution surcharge an amount determined by multiplying the arrears by the prescribed percentage rate. The prescribed percentage rate is a rate prescribed by the regulations. (Amended 29 of 2002 s. 8; 1 of 2008 s. 60) (3) The Authority may, by proceedings brought in a court of competent jurisdiction, recover as a debt due to the Authority any arrears, together with any contribution surcharge payable under subsection (2) in respect of those arrears. (Amended 1 of 2008 s. 60) (4) In any proceedings brought under subsection (3), a certificate, purporting to be issued by the Authority, specifying the amount of the arrears, or of any contribution surcharge payable in respect of those arrears, is, in the absence of evidence to the contrary, proof of the matters specified in the certificate. (Amended 1 of 2008 s. 60) (5) The Authority must pay any arrears or contribution surcharge paid to or recovered by the Authority— (a) in the case of an employee who is still employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employer for this purpose; or (ii) if the employer has not nominated a registered scheme, to the approved trustee of the registered scheme nominated by the employee for this purpose; or (iii) if neither the employer nor the employee has nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate; or (b) in the case of an employee who has ceased to be employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employee for this purpose; or (ii) if the employee has not nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate; or (c) in the case of a self-employed person— (i) to the approved trustee of the registered scheme nominated by the self-employed person for this purpose; or (ii) if the self-employed person has not nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate. (Replaced 1 of 2008 s. 60) (6) On receiving a payment under subsection (5), an approved trustee must credit the amount of the payment to the account of the scheme member for whom the relevant mandatory contribution should have been remitted in accordance with this Part. (6A) For the purposes of this section, the regulations may— (a) prescribe the duties of approved trustees in relation to mandatory contributions, arrears and contribution surcharges received by them, including the duty to verify the calculation of any of these sums and the duty to credit these sums to specified accounts; or (b) prescribe the requirements to be complied with in relation to the recovery of arrears and contribution surcharges. (Added 1 of 2008 s. 60) (6B) For the avoidance of doubt— (a) a person’s liability to pay a contribution surcharge under subsection (2); or (b) the exercise by the Authority of its power to recover any arrears or contribution surcharge under subsection (3), is not dependent on the compliance by the approved trustee or any other person with any regulation made for the purposes of this section. (Added 1 of 2008 s. 60) (7) In this section, a reference to a mandatory contribution includes a part of such a contribution. (Replaced 4 of 1998 s. 2) ___________________________________________________________________________ ______________ Note: * (Replaced 1 of 2008 s. 60) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 18 Recovery of mandatory contributions that are in arrears VerDate:01/02/2003 (1) A mandatory contribution is in arrears for the purposes of this Ordinance if it is not paid within the period prescribed by the regulations. The contribution becomes due to the Authority on the expiry of that period. (2) If a mandatory contribution is in arrears, the person who is liable to pay the contribution is also liable to pay to the Authority as a contribution surcharge an amount determined by multiplying the arrears by the prescribed percentage rate. The prescribed percentage rate is a rate prescribed by the regulations. (Amended 29 of 2002 s. 8) (3) The Authority may, by proceedings brought in a court of competent jurisdiction, recover as a debt due to the Authority a mandatory contribution that is in arrears, together with any contribution surcharge payable under subsection (2) in respect of those arrears. (4) In any proceedings brought under subsection (3), a certificate, purporting to be issued by the Authority, specifying the amount of a mandatory contribution that is in arrears, or of any contribution surcharge payable in respect of those arrears, is, in the absence of evidence to the contrary, proof of the matters specified in the certificate. (5) The Authority must pay to the approved trustee of the registered scheme to which the relevant mandatory contribution was payable any arrears and contribution surcharge that are paid to or recovered by the Authority. (6) On receiving a payment under subsection (5), an approved trustee must credit the amount of the payment to the account of the scheme member for whom the relevant mandatory contribution should have been remitted in accordance with this Part. (7) In this section, a reference to a mandatory contribution includes a part of such a contribution. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 18 Recovery of mandatory contributions that are in arrears VerDate:01/12/2000 (1) A mandatory contribution is in arrears for the purposes of this Ordinance if it is not paid within the period prescribed by the regulations. The contribution becomes due to the Authority on the expiry of that period. (2) If a mandatory contribution is in arrears, the person who is liable to pay the contribution is also liable to pay to the Authority as a contribution surcharge an amount determined by multiplying the arrears by the prescribed percentage rate. The prescribed percentage rate is a rate prescribed by the regulations, not exceeding 20 per cent per annum. (3) The Authority may, by proceedings brought in a court of competent jurisdiction, recover as a debt due to the Authority a mandatory contribution that is in arrears, together with any contribution surcharge payable under subsection (2) in respect of those arrears. (4) In any proceedings brought under subsection (3), a certificate, purporting to be issued by the Authority, specifying the amount of a mandatory contribution that is in arrears, or of any contribution surcharge payable in respect of those arrears, is, in the absence of evidence to the contrary, proof of the matters specified in the certificate. (5) The Authority must pay to the approved trustee of the registered scheme to which the relevant mandatory contribution was payable any arrears and contribution surcharge that are paid to or recovered by the Authority. (6) On receiving a payment under subsection (5), an approved trustee must credit the amount of the payment to the account of the scheme member for whom the relevant mandatory contribution should have been remitted in accordance with this Part. (7) In this section, a reference to a mandatory contribution includes a part of such a contribution. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19 Powers of Authority in relation to mandatory contributions VerDate:01/12/2000 (1) An authorized person may, for the purpose of ensuring compliance with the provisions of this Ordinance and for no other purpose do all or any of the following- (Amended 4 of 1998 s. 2) (a) subject to subsection (2), enter, inspect and examine at any reasonable time, by day or night, any premises in which the person knows or reasonably believes relevant employees or self-employed persons are employed or carrying on business; (b) require any person found in those premises or place or any other person to produce any record required to be kept under this Ordinance or otherwise in that other person's possession or under his control and inspect, examine and copy the same; (c) make such examination and inquiry as may be necessary to ascertain whether the requirements of this Ordinance applicable to employers, relevant employees and self-employed persons are being complied with, and seize anything which may appear to the authorized person to be or contain evidence of an offence against this Ordinance; (d) exercise any other powers which may be conferred on the authorized person by the regulations. (Amended 4 of 1998 s. 2) (2) If premises are being used as a private dwelling, an authorized person may enter those premises only under the authority of a warrant issued under subsection (3). (Replaced 4 of 1998 s. 2) (3) A magistrate may, on an application made by or on behalf of an authorized person, issue a warrant authorizing the person to enter premises referred to in subsection (2) if satisfied by information made on oath that there are reasonable grounds for suspecting- (a) that an offence under this Ordinance has been, is being or is about to be committed in those premises; or (b) that there is in those premises any thing that appears to the person to be or to contain evidence of such an offence. (Added 4 of 1998 s. 2) (4) A person may exercise a power conferred by subsection (1) only if the person is in possession of a written authority issued by the Authority and produces that authority to the occupier of the premises sought to be entered, inspected or examined or to any other person in relation to whom it is sought to exercise that power. (Added 4 of 1998 s. 2) (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19A Power of Authority to require production of records VerDate:18/01/2008 (1) The Authority may, for the purpose of ensuring compliance with the provisions of this Ordinance but for no other purpose, by notice in writing served on an employer, a self-employed person or any other person, require him to produce for inspection within such period as may be specified in the notice any record that is required to be kept under this Ordinance or is otherwise in his possession or under his control. (2) The Authority may make copies of all or any part of the records produced by a person pursuant to a notice served under subsection (1). (Added 1 of 2008 s. 58) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19B Authority may pay special contributions into accounts of scheme members VerDate:18/07/2008 PART IIIA SPECIAL CONTRIBUTIONS (1) The Authority may pay a contribution (referred to in this Part as a “special contribution”) into an account of a member of a registered scheme. (2) To effect the payment under subsection (1), the Authority may pay the special contribution to an approved trustee of the scheme, and by a notice in writing direct the approved trustee to— (a) pay the special contribution into a sub-account of the member’s contribution account or preserved account specified in the notice; and (b) notify the member of the payment. (3) Only a sub-account referred to in section 78(6)(c), (7)(b) or (8)(a) of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A) may be specified in the notice. (4) The Authority may specify in the notice— (a) a period that is reasonable in the circumstances within which the approved trustee must pay the special contribution into the specified sub-account; and (b) a period that is reasonable in the circumstances within which the approved trustee must notify the member of the payment. (5) The approved trustee must— (a) after receiving the special contribution and the Authority’s notice, pay the special contribution into the specified sub-account within the period specified under subsection (4)(a); and (b) after paying the special contribution into the specified sub-account, by a notice in writing notify the member of the payment within the period specified under subsection (4)(b). (Part IIIA added 30 of 2008 s. 4) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19C Authority may require information or documents necessary for paying special contributions VerDate:18/07/2008 (1) The Authority may, for the purpose of paying special contributions, by a notice in writing— (a) require an approved trustee of a registered scheme to give to the Authority any information or document specified in the notice relating to the members of the scheme; (b) require a trustee of a relevant scheme to give to the Authority any information or document specified in the notice relating to the members of the scheme; (c) require an employer of a member of a registered scheme or relevant scheme to give to the Authority any information or document specified in the notice relating to the member; and (d) require any other person whom the Authority reasonably believes to have in his possession, or under his control, any information or document relating to a member of a registered scheme or relevant scheme to give to the Authority any information or document specified in the notice relating to the member. (2) Only information or documents that the Authority reasonably considers to be necessary for the purpose of paying special contributions may be specified in the notice and they may include (but are not limited to) the following particulars of a member of a registered scheme or relevant scheme— (a) the member’s name; (b) the member’s date of birth; (c) the member’s Hong Kong Identity Card number or travel document number; (d) the member’s income; and (e) the member’s correspondence address, telephone number and electronic mail address. (3) The Authority may specify in the notice— (a) a manner in which the specified information or document must be given to the Authority; and (b) a period that is reasonable in the circumstances within which the specified information or document must be given to the Authority. (4) Where— (a) a person is given a notice in writing under subsection (1); and (b) the information or document specified in the notice is in the possession, or under the control, of that person, that person must give the specified information or document to the Authority in the specified manner within the specified period. (5) In this section— “member” (成員), in relation to a registered scheme or relevant scheme, includes a former member of the scheme; “relevant scheme” (有關計劃) has the same meaning as in Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B). (Part IIIA added 30 of 2008 s. 4) “member” (成員) “relevant scheme” (有關計劃) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19D Authority may require approved trustees to take actions necessary for paying special contributions VerDate:18/07/2008 (1) The Authority may by a notice in writing require an approved trustee of a registered scheme to take any action, specified in the notice, that the Authority reasonably considers to be necessary for the purpose of paying special contributions. (2) The Authority may specify in the notice— (a) a manner in which the approved trustee must take the specified action; and (b) a period that is reasonable in the circumstances within which the approved trustee must take the specified action. (3) The action specified in the notice may include (but is not limited to) registering a person specified in the notice as a member of the scheme and opening a preserved account for that person. (4) The approved trustee must, after receiving the Authority’s notice, take the specified action in the specified manner within the specified period. (5) Where— (a) the action specified in a notice in writing given to an approved trustee of a registered scheme under subsection (1) is to register a person specified in the notice as a member of the scheme and to open a preserved account for that person; and (b) the approved trustee takes the specified action in compliance with the requirements under subsection (4), that person is deemed to have agreed in writing to comply with the governing rules of the scheme. (Part IIIA added 30 of 2008 s. 4) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19E Authority may recover special contributions that should not have been paid VerDate:18/07/2008 (1) If the Authority reasonably believes that a special contribution should not have been paid into an account of a member of a registered scheme, the Authority may by a notice in writing specify that account and direct an approved trustee of the scheme to— (a) withdraw from the specified account a sum equal to the special contribution or the accrued benefits derived from the special contribution, whichever is the less, and pay it to the Authority, in the manner specified in the notice; and (b) notify the member of the withdrawal. (2) If the accrued benefits derived from the special contribution have been transferred to another account in the scheme or to an account in another registered scheme, the Authority may by a notice in writing specify that account and direct an approved trustee of the scheme or that other scheme to— (a) withdraw from the specified account a sum equal to the special contribution or the accrued benefits, whichever is the less, and pay it to the Authority, in the manner specified in the notice; and (b) notify the member of the withdrawal. (3) The Authority may specify in the notice— (a) a period that is reasonable in the circumstances within which the approved trustee must withdraw the sum from the specified account and pay it to the Authority; and (b) a period that is reasonable in the circumstances within which the approved trustee must notify the member of the withdrawal. (4) The approved trustee must— (a) after receiving the Authority’s notice, withdraw the sum from the specified account, and pay it to the Authority, in the specified manner within the period specified under subsection (3)(a); and (b) after withdrawing the sum from the specified account, by a notice in writing notify the member of the withdrawal within the period specified under subsection (3)(b). (5) A direction under subsection (1) or (2) may only be given in respect of a special contribution within 6 months after the special contribution is paid into an account of a member of a registered scheme. (Part IIIA added 30 of 2008 s. 4) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19F Vesting of special contributions VerDate:18/07/2008 Subject to section 19E— (a) a special contribution paid by the Authority in respect of a member of a registered scheme vests in the member as accrued benefits as soon as it is paid to an approved trustee of the scheme; and (b) the provisions of this Ordinance apply to accrued benefits derived from a special contribution in the same way they apply to accrued benefits derived from a mandatory contribution paid under section 7A(1)(b) or (2)(b) or 7C. (Part IIIA added 30 of 2008 s. 4) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19G Liability to pay other contributions VerDate:18/07/2008 (1) A special contribution paid under this Part does not extinguish or reduce the liability of any person to pay any other contributions under— (a) this Ordinance; (b) the governing rules of a registered scheme; or (c) the instrument (however described) that governs a relevant scheme. (2) In this section— “relevant scheme” (有關計劃) has the same meaning as in Schedule 2 to the Mandatory Provident Fund Schemes (Exemption) Regulation (Cap 485 sub. leg. B). (Part IIIA added 30 of 2008 s. 4) “relevant scheme” (有關計劃) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19H Part IIIA prevails over any instruments applicable to registered schemes VerDate:18/07/2008 (1) If there is any conflict or inconsistency between the provisions of this Part and the provisions of a specified instrument applicable to a registered scheme, the provisions of this Part prevail over the provisions of the instrument to the extent of the conflict or inconsistency. (2) In this section— “specified instrument” (指明文書) means— (a) any governing rules; (b) any participation agreement within the meaning of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A); or (c) any articles, or memorandum, within the meaning of the Companies Ordinance (Cap 32). (Part IIIA added 30 of 2008 s. 4) “specified instrument” (指明文書) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20 Approval of trustees VerDate:18/01/2008 PART IV MANDATORY PROVIDENT FUND SCHEMES (1) A person may apply to the Authority for approval as a trustee for the purposes of this Ordinance. (2) A company is not eligible to make an application under this section unless at least 1 of the company's directors is an independent director. The regulations may prescribe the qualifications of independent directors for the purposes of this subsection. (3) A natural person is not eligible to make an application under this section if the person- (a) is a public officer; or (b) is, in accordance with the Mental Health Ordinance (Cap 136), found by the Court to be of unsound mind and incapable of managing himself or herself and his or her affairs; or (c) is an undischarged bankrupt or has entered into a composition with the person's creditors without paying the creditors in full. (4) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as may be prescribed by the guidelines; and (c) be accompanied by an application fee of such amount as may be prescribed by the regulations. (5) The Authority may, by written notice, require an applicant to provide additional information and documents as is reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) The Authority may approve an application only if satisfied that the applicant- (a) is likely to be able to perform, in a proper manner, the duties that an approved trustee is required by this Ordinance to perform in relation to registered schemes; and (b) has given an undertaking to the Authority by deed, or by a document of like effect acceptable to the Authority, that the applicant will not, in relation to a registered scheme of which the applicant becomes the approved trustee, refuse- (i) an application for membership of the scheme made by or on behalf of a relevant employee of a participating employer, or by or on behalf of a self-employed person who is 18 years of age or over and below retirement age, who- (A) is not precluded by a provision of this Ordinance from being a member of the scheme; and (B) is required by this Ordinance to be a member of a registered scheme; (ii) an application for participation in the scheme made by or on behalf of an employer whose employee- (A) is not precluded by a provision of this Ordinance from being a member of the scheme; and (B) is required by this Ordinance to be a member of a registered scheme; or (iii) an application for membership of the scheme made only for the purpose of maintaining a preserved account within the scheme by a person who- (A) is not precluded by a provision of this Ordinance from being a member of the scheme; and (B) is required by this Ordinance to be a member of a registered scheme; and (Replaced 1 of 2008 s. 15) (c) complies with such requirements as are prescribed by the regulations. (7) The regulations referred to in subsection (6)(c) may include requirements as to the following matters- (a) the qualifications that an applicant must have; (b) the financial resources that an applicant must have (including capital adequacy); (c) in the case of an application by a company- (i) the membership of the company; and (ii) the objects of the company as set out in its constitution; and (iii) the suitability of the company's controllers (including their reputation and character and their knowledge of, experience in and qualifications for administering provident fund schemes); and (iv) in the case of a company that is a non-Hong Kong company, requirements that the place where the company is incorporated has in force laws that provide for the establishment and operation of corporations and trusts and that there must be in that place an effective regulatory authority to supervise those corporations and trusts and to enforce those laws; (Amended 30 of 2004 s. 3) (d) in the case of an application by a natural person- (i) the suitability of the applicant to be an approved trustee (including the applicant's reputation and character and the applicant's knowledge of, experience in and qualifications for administering provident fund schemes); and (ii) the need to provide a performance guarantee and the contents of such a guarantee. (8) In approving an applicant as an approved trustee, the Authority may impose such conditions with respect to the conduct of the applicant's business as it considers appropriate. (9) On approving an applicant as an approved trustee, the Authority must issue the applicant with a certificate of approval and, if the Authority has imposed conditions on the applicant under subsection (8), must specify those conditions in the certificate or in a document accompanying the certificate. (10) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (11) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (12) Where the Authority- (a) has decided that it is appropriate to- (i) amend any conditions imposed under subsection (8) or this subsection with respect to the conduct of an approved trustee's business; or (ii) impose conditions with respect to the conduct of an approved trustee's business; and (b) has given to the approved trustee- (i) not less than 30 days' advance notice of its decision, specifying its grounds; and (ii) an opportunity to make written representations as to why the conditions should not be amended or imposed, then the Authority may, by written notice served on the approved trustee- (c) amend any conditions imposed under subsection (8) or this subsection with respect to the conduct of the approved trustee's business; or (d) impose conditions with respect to the conduct of the approved trustee's business. (Added 2 of 2002 s. 10) (13) The Authority may waive a person's compliance with a condition imposed under subsection (8) or (12)- (a) in a particular case; and (b) where the person satisfies the Authority that such compliance is not, or has not been, reasonably practicable in all the circumstances of that case. (Added 2 of 2002 s. 10) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20 Approval of trustees VerDate:14/12/2007 PART IV MANDATORY PROVIDENT FUND SCHEMES (1) A person may apply to the Authority for approval as a trustee for the purposes of this Ordinance. (2) A company is not eligible to make an application under this section unless at least 1 of the company's directors is an independent director. The regulations may prescribe the qualifications of independent directors for the purposes of this subsection. (3) A natural person is not eligible to make an application under this section if the person- (a) is a public officer; or (b) is, in accordance with the Mental Health Ordinance (Cap 136), found by the Court to be of unsound mind and incapable of managing himself or herself and his or her affairs; or (c) is an undischarged bankrupt or has entered into a composition with the person's creditors without paying the creditors in full. (4) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as may be prescribed by the guidelines; and (c) be accompanied by an application fee of such amount as may be prescribed by the regulations. (5) The Authority may, by written notice, require an applicant to provide additional information and documents as is reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) The Authority may approve an application only if satisfied that the applicant- (a) is likely to be able to perform, in a proper manner, the duties that an approved trustee is required by this Ordinance to perform in relation to registered schemes; and (b) enters into an undertaking with the Authority that the applicant will not, in relation to a registered scheme of which the applicant becomes the approved trustee, refuse an application for membership of the scheme that is made by or on behalf of a person who- (i) is not precluded by a provision of this Ordinance from being a member of the scheme; and (ii) is required by this Ordinance to be a member of a registered scheme; and (c) complies with such requirements as are prescribed by the regulations. (7) The regulations referred to in subsection (6)(c) may include requirements as to the following matters- (a) the qualifications that an applicant must have; (b) the financial resources that an applicant must have (including capital adequacy); (c) in the case of an application by a company- (i) the membership of the company; and (ii) the objects of the company as set out in its constitution; and (iii) the suitability of the company's controllers (including their reputation and character and their knowledge of, experience in and qualifications for administering provident fund schemes); and (iv) in the case of a company that is a non-Hong Kong company, requirements that the place where the company is incorporated has in force laws that provide for the establishment and operation of corporations and trusts and that there must be in that place an effective regulatory authority to supervise those corporations and trusts and to enforce those laws; (Amended 30 of 2004 s. 3) (d) in the case of an application by a natural person- (i) the suitability of the applicant to be an approved trustee (including the applicant's reputation and character and the applicant's knowledge of, experience in and qualifications for administering provident fund schemes); and (ii) the need to provide a performance guarantee and the contents of such a guarantee. (8) In approving an applicant as an approved trustee, the Authority may impose such conditions with respect to the conduct of the applicant's business as it considers appropriate. (9) On approving an applicant as an approved trustee, the Authority must issue the applicant with a certificate of approval and, if the Authority has imposed conditions on the applicant under subsection (8), must specify those conditions in the certificate or in a document accompanying the certificate. (10) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (11) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (12) Where the Authority- (a) has decided that it is appropriate to- (i) amend any conditions imposed under subsection (8) or this subsection with respect to the conduct of an approved trustee's business; or (ii) impose conditions with respect to the conduct of an approved trustee's business; and (b) has given to the approved trustee- (i) not less than 30 days' advance notice of its decision, specifying its grounds; and (ii) an opportunity to make written representations as to why the conditions should not be amended or imposed, then the Authority may, by written notice served on the approved trustee- (c) amend any conditions imposed under subsection (8) or this subsection with respect to the conduct of the approved trustee's business; or (d) impose conditions with respect to the conduct of the approved trustee's business. (Added 2 of 2002 s.10) (13) The Authority may waive a person's compliance with a condition imposed under subsection (8) or (12)- (a) in a particular case; and (b) where the person satisfies the Authority that such compliance is not, or has not been, reasonably practicable in all the circumstances of that case. (Added 2 of 2002 s.10) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20 Approval of trustees VerDate:15/02/2002 PART IV MANDATORY PROVIDENT FUND SCHEMES (1) A person may apply to the Authority for approval as a trustee for the purposes of this Ordinance. (2) A company is not eligible to make an application under this section unless at least 1 of the company's directors is an independent director. The regulations may prescribe the qualifications of independent directors for the purposes of this subsection. (3) A natural person is not eligible to make an application under this section if the person- (a) is a public officer; or (b) is, in accordance with the Mental Health Ordinance (Cap 136), found by the Court to be of unsound mind and incapable of managing himself or herself and his or her affairs; or (c) is an undischarged bankrupt or has entered into a composition with the person's creditors without paying the creditors in full. (4) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as may be prescribed by the guidelines; and (c) be accompanied by an application fee of such amount as may be prescribed by the regulations. (5) The Authority may, by written notice, require an applicant to provide additional information and documents as is reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) The Authority may approve an application only if satisfied that the applicant- (a) is likely to be able to perform, in a proper manner, the duties that an approved trustee is required by this Ordinance to perform in relation to registered schemes; and (b) enters into an undertaking with the Authority that the applicant will not, in relation to a registered scheme of which the applicant becomes the approved trustee, refuse an application for membership of the scheme that is made by or on behalf of a person who- (i) is not precluded by a provision of this Ordinance from being a member of the scheme; and (ii) is required by this Ordinance to be a member of a registered scheme; and (c) complies with such requirements as are prescribed by the regulations. (7) The regulations referred to in subsection (6)(c) may include requirements as to the following matters- (a) the qualifications that an applicant must have; (b) the financial resources that an applicant must have (including capital adequacy); (c) in the case of an application by a company- (i) the membership of the company; and (ii) the objects of the company as set out in its constitution; and (iii) the suitability of the company's controllers (including their reputation and character and their knowledge of, experience in and qualifications for administering provident fund schemes); and (iv) in the case of a company that is an oversea company, requirements that the place where the company is incorporated has in force laws that provide for the establishment and operation of corporations and trusts and that there must be in that place an effective regulatory authority to supervise those corporations and trusts and to enforce those laws; (d) in the case of an application by a natural person- (i) the suitability of the applicant to be an approved trustee (including the applicant's reputation and character and the applicant's knowledge of, experience in and qualifications for administering provident fund schemes); and (ii) the need to provide a performance guarantee and the contents of such a guarantee. (8) In approving an applicant as an approved trustee, the Authority may impose such conditions with respect to the conduct of the applicant's business as it considers appropriate. (9) On approving an applicant as an approved trustee, the Authority must issue the applicant with a certificate of approval and, if the Authority has imposed conditions on the applicant under subsection (8), must specify those conditions in the certificate or in a document accompanying the certificate. (10) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (11) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (12) Where the Authority- (a) has decided that it is appropriate to- (i) amend any conditions imposed under subsection (8) or this subsection with respect to the conduct of an approved trustee's business; or (ii) impose conditions with respect to the conduct of an approved trustee's business; and (b) has given to the approved trustee- (i) not less than 30 days' advance notice of its decision, specifying its grounds; and (ii) an opportunity to make written representations as to why the conditions should not be amended or imposed, then the Authority may, by written notice served on the approved trustee- (c) amend any conditions imposed under subsection (8) or this subsection with respect to the conduct of the approved trustee's business; or (d) impose conditions with respect to the conduct of the approved trustee's business. (Added 2 of 2002 s.10) (13) The Authority may waive a person's compliance with a condition imposed under subsection (8) or (12)- (a) in a particular case; and (b) where the person satisfies the Authority that such compliance is not, or has not been, reasonably practicable in all the circumstances of that case. (Added 2 of 2002 s.10) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20 Approval of trustees VerDate:03/08/1999 PART IV MANDATORY PROVIDENT FUND SCHEMES (1) A person may apply to the Authority for approval as a trustee for the purposes of this Ordinance. (2) A company is not eligible to make an application under this section unless at least 1 of the company's directors is an independent director. The regulations may prescribe the qualifications of independent directors for the purposes of this subsection. (3) A natural person is not eligible to make an application under this section if the person- (a) is a public officer; or (b) is, in accordance with the Mental Health Ordinance (Cap 136), found by the Court to be of unsound mind and incapable of managing himself or herself and his or her affairs; or (c) is an undischarged bankrupt or has entered into a composition with the person's creditors without paying the creditors in full. (4) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as may be prescribed by the guidelines; and (c) be accompanied by an application fee of such amount as may be prescribed by the regulations. (5) The Authority may, by written notice, require an applicant to provide additional information and documents as is reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) The Authority may approve an application only if satisfied that the applicant- (a) is likely to be able to perform, in a proper manner, the duties that an approved trustee is required by this Ordinance to perform in relation to registered schemes; and (b) enters into an undertaking with the Authority that the applicant will not, in relation to a registered scheme of which the applicant becomes the approved trustee, refuse an application for membership of the scheme that is made by or on behalf of a person who- (i) is not precluded by a provision of this Ordinance from being a member of the scheme; and (ii) is required by this Ordinance to be a member of a registered scheme; and (c) complies with such requirements as are prescribed by the regulations. (7) The regulations referred to in subsection (6)(c) may include requirements as to the following matters- (a) the qualifications that an applicant must have; (b) the financial resources that an applicant must have (including capital adequacy); (c) in the case of an application by a company- (i) the membership of the company; and (ii) the objects of the company as set out in its constitution; and (iii) the suitability of the company's controllers (including their reputation and character and their knowledge of, experience in and qualifications for administering provident fund schemes); and (iv) in the case of a company that is an oversea company, requirements that the place where the company is incorporated has in force laws that provide for the establishment and operation of corporations and trusts and that there must be in that place an effective regulatory authority to supervise those corporations and trusts and to enforce those laws; (d) in the case of an application by a natural person- (i) the suitability of the applicant to be an approved trustee (including the applicant's reputation and character and the applicant's knowledge of, experience in and qualifications for administering provident fund schemes); and (ii) the need to provide a performance guarantee and the contents of such a guarantee. (8) In approving an applicant as an approved trustee, the Authority may impose such conditions with respect to the conduct of the applicant's business as it considers appropriate. (9) On approving an applicant as an approved trustee, the Authority must issue the applicant with a certificate of approval and, if the Authority has imposed conditions on the applicant under subsection (8), must specify those conditions in the certificate or in a document accompanying the certificate. (10) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (11) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20A Suspension of approval of approved trustee VerDate:01/12/2008 (1) The Authority may suspend the approval of an approved trustee if it reasonably suspects that- (a) the trustee has failed to comply with a condition to which the approval is subject; or (b) the trustee is for any reason unable to carry out any of the duties of an approved trustee in relation to a registered scheme; or (c) if the regulations specify requirements that are to be complied with as to the financial resources (including capital adequacy) or the qualifications of approved trustees, the trustee is not, or is no longer, able to satisfy those requirements; or (d) the trustee has failed to comply with section 22; or (Amended 18 of 2008 s. 27) (e) the trustee has failed to comply with section 42B(6) or (7) of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A). (Added 18 of 2008 s. 27) (2) The Authority must not, unless it appears to it that the interests of scheme members would otherwise be detrimentally affected, suspend the approval of an approved trustee without giving the trustee an opportunity to make representations (either orally or in writing or both) as to why the approval should not be suspended. (3) If the Authority suspends the approval of an approved trustee, it must give written notice of the suspension to the trustee and must include in the notice a statement setting out the reasons for the suspension. (4) A suspension of the approval of an approved trustee takes effect from the date specified in the notice given under subsection (3) or, if a later date is specified, from that date, irrespective of whether or not the trustee appeals against the suspension under Part V. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20A Suspension of approval of approved trustee VerDate:03/08/1999 (1) The Authority may suspend the approval of an approved trustee if it reasonably suspects that- (a) the trustee has failed to comply with a condition to which the approval is subject; or (b) the trustee is for any reason unable to carry out any of the duties of an approved trustee in relation to a registered scheme; or (c) if the regulations specify requirements that are to be complied with as to the financial resources (including capital adequacy) or the qualifications of approved trustees, the trustee is not, or is no longer, able to satisfy those requirements; or (d) the trustee has failed to comply with section 22. (2) The Authority must not, unless it appears to it that the interests of scheme members would otherwise be detrimentally affected, suspend the approval of an approved trustee without giving the trustee an opportunity to make representations (either orally or in writing or both) as to why the approval should not be suspended. (3) If the Authority suspends the approval of an approved trustee, it must give written notice of the suspension to the trustee and must include in the notice a statement setting out the reasons for the suspension. (4) A suspension of the approval of an approved trustee takes effect from the date specified in the notice given under subsection (3) or, if a later date is specified, from that date, irrespective of whether or not the trustee appeals against the suspension under Part V. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20B Revocation of approval of approved trustee VerDate:01/12/2008 (1) The Authority may revoke the approval of an approved trustee on being satisfied on reasonable grounds that- (a) the trustee has failed to comply with a condition to which the approval is subject; or (b) the trustee is for any reason unable to carry out any of the duties of an approved trustee in relation to a registered scheme; or (c) if the regulations specify requirements that are to be complied with as to the financial resources (including capital adequacy) or the qualifications of approved trustees, the trustee is not, or is no longer, able to satisfy those requirements; or (d) the trustee has failed to comply with section 22; or (Amended 18 of 2008 s. 28) (e) the trustee has failed to comply with section 42B(6) or (7) of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A). (Added 18 of 2008 s. 28) (2) The Authority must not revoke the approval of an approved trustee without giving the trustee an opportunity to make representations (either orally or in writing or both) as to why the approval should not be revoked. (3) If the Authority revokes the approval of an approved trustee, it must give written notice of the revocation to the trustee and must include in the notice a statement setting out the reasons for the revocation. (4) An approved trustee's approval is, by operation of this subsection, revoked- (a) if the trustee is a company and- (i) the Court makes an order for the winding up of the company; or (ii) the company is dissolved otherwise than in consequence of such an order; or (b) if the trustee is a natural person, the person- (i) dies; or (ii) is, in accordance with the Mental Health Ordinance (Cap 136), found by the Court to be of unsound mind and incapable of managing himself or herself and his or her affairs; or (iii) is adjudicated bankrupt or has entered into a composition with the person's creditors without paying the creditors in full. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20B Revocation of approval of approved trustee VerDate:03/08/1999 (1) The Authority may revoke the approval of an approved trustee on being satisfied on reasonable grounds that- (a) the trustee has failed to comply with a condition to which the approval is subject; or (b) the trustee is for any reason unable to carry out any of the duties of an approved trustee in relation to a registered scheme; or (c) if the regulations specify requirements that are to be complied with as to the financial resources (including capital adequacy) or the qualifications of approved trustees, the trustee is not, or is no longer, able to satisfy those requirements; or (d) the trustee has failed to comply with section 22. (2) The Authority must not revoke the approval of an approved trustee without giving the trustee an opportunity to make representations (either orally or in writing or both) as to why the approval should not be revoked. (3) If the Authority revokes the approval of an approved trustee, it must give written notice of the revocation to the trustee and must include in the notice a statement setting out the reasons for the revocation. (4) An approved trustee's approval is, by operation of this subsection, revoked- (a) if the trustee is a company and- (i) the Court makes an order for the winding up of the company; or (ii) the company is dissolved otherwise than in consequence of such an order; or (b) if the trustee is a natural person, the person- (i) dies; or (ii) is, in accordance with the Mental Health Ordinance (Cap 136), found by the Court to be of unsound mind and incapable of managing himself or herself and his or her affairs; or (iii) is adjudicated bankrupt or has entered into a composition with the person's creditors without paying the creditors in full. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 20C Register of approved trustees to be kept VerDate:03/08/1999 (1) The Authority must establish and maintain a register of trustees approved under section 20. The register may be in such form, and contain such information, as the Authority may determine. (2) The register is to be kept at the head office of the Authority in Hong Kong. (3) Members of the public are entitled, without charge, to inspect the register during the ordinary business hours of the Authority. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21 Application for registration as employer sponsored scheme or master trust scheme VerDate:18/01/2008 (1) An application for the registration of a provident fund scheme as an employer sponsored scheme may be made to the Authority only- (a) by a company that is an approved trustee or has applied for approval as such under section 20; or (b) by 2 or more natural persons who are approved trustees, or have applied for approval under that section, and at least 1 of whom must be an independent trustee; or (c) by such a company and 1 or more such natural persons. (2) An application for the registration of a provident fund scheme as a master trust scheme may be made to the Authority only by an approved trustee that is a company or by a company that has applied for approval under section 20. (3) If an application under this section is made by 2 or more approved trustees who are natural persons, at least 1 of those persons must be an independent trustee. The regulations may prescribe the qualifications of independent trustees for the purposes of this subsection. (4) An application must- (a) specify particulars of the scheme sought to be registered and contain such other information (if any) as is prescribed in guidelines issued under section 6H; and (b) be accompanied- (i) by a copy of the proposed rules that are to govern the scheme and by such other documents (if any) as are prescribed in guidelines issued under section 6H; and (ii) by an application fee of such amount as is prescribed by the regulations. (5) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) As soon as practicable after receiving an application for the registration of a provident fund scheme, the Authority must consider the application. (7) The Authority may register a scheme only if satisfied that the scheme- (a) complies with, or will if registered comply with, such requirements and standards as are prescribed by the regulations referred to in section 21C; and (b) will be governed by the law of Hong Kong. (8) The Authority may, as a condition of registering a provident fund scheme under this section, require the applicant to give to the Authority an undertaking with respect to the administration of the scheme by deed, or by a document of like effect acceptable to the Authority, including- (a) in the case of an application to register a scheme as an employer sponsored scheme, an undertaking not to refuse- (i) an application for membership of the scheme made by or on behalf of a relevant employee of the participating employer; or (ii) an application for participation in the scheme made by or on behalf of an employer; and (b) in the case of an application to register a scheme as a master trust scheme, an undertaking not to refuse- (i) an application for membership of the scheme made by or on behalf of- (A) any relevant employee; or (B) any self-employed person who is 18 years of age or over and below retirement age; or (ii) an application for participation in the scheme made by or on behalf of an employer; or (iii) an application for membership of the scheme made by a person only for the purpose of maintaining a preserved account within the scheme. (Replaced 1 of 2008 s. 16) (8A) Without prejudice to the operation of subsection (8), on registering a provident fund scheme, the Authority may impose such conditions with respect to the administration or marketing of the scheme as it considers appropriate. (Added 2 of 2002 s. 11) (9) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (10) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (11) On registering a provident fund scheme, the Authority must issue to the approved trustee of the scheme a certificate of registration and, if the Authority has imposed conditions under subsection (8A) with respect to the administration or marketing of the scheme, must specify those conditions in the certificate or in a document accompanying the certificate. The certificate must specify whether the scheme is an employer sponsored scheme or a master trust scheme. (Amended 2 of 2002 s. 11) (12) Where the Authority- (a) has decided that it is appropriate to- (i) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of a registered scheme; or (ii) impose conditions with respect to the administration or marketing of a registered scheme; and (b) has given to the approved trustee- (i) not less than 30 days' advance notice of its decision, specifying its grounds; and (ii) an opportunity to make written representations as to why the conditions should not be amended or imposed, then the Authority may, by written notice served on the approved trustee- (c) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of the scheme; or (d) impose conditions with respect to the administration or marketing of the scheme. (Added 2 of 2002 s. 11) (13) The Authority may waive a person's compliance with a condition imposed under subsection (8A) or (12)- (a) in a particular case; and (b) where the person satisfies the Authority that such compliance is not, or has not been, reasonably practicable in all the circumstances of that case. (Added 2 of 2002 s. 11) (14) The Authority shall not impose under this section any conditions with respect to the marketing of a registered scheme, or amend any conditions imposed under this section with respect to the marketing of the scheme, unless the imposition or amendment, as the case may be, falls within the ambit of the guidelines. (Added 2 of 2002 s. 11) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21 Application for registration as employer sponsored scheme or master trust scheme VerDate:15/02/2002 (1) An application for the registration of a provident fund scheme as an employer sponsored scheme may be made to the Authority only- (a) by a company that is an approved trustee or has applied for approval as such under section 20; or (b) by 2 or more natural persons who are approved trustees, or have applied for approval under that section, and at least 1 of whom must be an independent trustee; or (c) by such a company and 1 or more such natural persons. (2) An application for the registration of a provident fund scheme as a master trust scheme may be made to the Authority only by an approved trustee that is a company or by a company that has applied for approval under section 20. (3) If an application under this section is made by 2 or more approved trustees who are natural persons, at least 1 of those persons must be an independent trustee. The regulations may prescribe the qualifications of independent trustees for the purposes of this subsection. (4) An application must- (a) specify particulars of the scheme sought to be registered and contain such other information (if any) as is prescribed in guidelines issued under section 6H; and (b) be accompanied- (i) by a copy of the proposed rules that are to govern the scheme and by such other documents (if any) as are prescribed in guidelines issued under section 6H; and (ii) by an application fee of such amount as is prescribed by the regulations. (5) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) As soon as practicable after receiving an application for the registration of a provident fund scheme, the Authority must consider the application. (7) The Authority may register a scheme only if satisfied that the scheme- (a) complies with, or will if registered comply with, such requirements and standards as are prescribed by the regulations referred to in section 21C; and (b) will be governed by the law of Hong Kong. (8) The Authority may, as a condition of registering a provident fund scheme under this section, require the applicant to enter into an undertaking with respect to the administration of the scheme, including- (a) in the case of an application to register a scheme as an employer sponsored scheme, an undertaking not to refuse an application for membership of the scheme made by or on behalf of a relevant employee of the participating employer; and (b) in the case of an application to register a scheme as a master trust scheme, an undertaking not to refuse an application for membership of the scheme made by or on behalf of- (i) any relevant employee; or (ii) any self-employed person who is 18 years of age or over and below retirement age. (Amended 2 of 2002 s. 11) (8A) Without prejudice to the operation of subsection (8), on registering a provident fund scheme, the Authority may impose such conditions with respect to the administration or marketing of the scheme as it considers appropriate. (Added 2 of 2002 s. 11) (9) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (10) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (11) On registering a provident fund scheme, the Authority must issue to the approved trustee of the scheme a certificate of registration and, if the Authority has imposed conditions under subsection (8A) with respect to the administration or marketing of the scheme, must specify those conditions in the certificate or in a document accompanying the certificate. The certificate must specify whether the scheme is an employer sponsored scheme or a master trust scheme. (Amended 2 of 2002 s. 11) (12) Where the Authority- (a) has decided that it is appropriate to- (i) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of a registered scheme; or (ii) impose conditions with respect to the administration or marketing of a registered scheme; and (b) has given to the approved trustee- (i) not less than 30 days' advance notice of its decision, specifying its grounds; and (ii) an opportunity to make written representations as to why the conditions should not be amended or imposed, then the Authority may, by written notice served on the approved trustee- (c) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of the scheme; or (d) impose conditions with respect to the administration or marketing of the scheme. (Added 2 of 2002 s. 11) (13) The Authority may waive a person's compliance with a condition imposed under subsection (8A) or (12)- (a) in a particular case; and (b) where the person satisfies the Authority that such compliance is not, or has not been, reasonably practicable in all the circumstances of that case. (Added 2 of 2002 s. 11) (14) The Authority shall not impose under this section any conditions with respect to the marketing of a registered scheme, or amend any conditions imposed under this section with respect to the marketing of the scheme, unless the imposition or amendment, as the case may be, falls within the ambit of the guidelines. (Added 2 of 2002 s. 11) (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21 Application for registration as employer sponsored scheme or master trust scheme VerDate:03/08/1999 (1) An application for the registration of a provident fund scheme as an employer sponsored scheme may be made to the Authority only- (a) by a company that is an approved trustee or has applied for approval as such under section 20; or (b) by 2 or more natural persons who are approved trustees, or have applied for approval under that section, and at least 1 of whom must be an independent trustee; or (c) by such a company and 1 or more such natural persons. (2) An application for the registration of a provident fund scheme as a master trust scheme may be made to the Authority only by an approved trustee that is a company or by a company that has applied for approval under section 20. (3) If an application under this section is made by 2 or more approved trustees who are natural persons, at least 1 of those persons must be an independent trustee. The regulations may prescribe the qualifications of independent trustees for the purposes of this subsection. (4) An application must- (a) specify particulars of the scheme sought to be registered and contain such other information (if any) as is prescribed in guidelines issued under section 6H; and (b) be accompanied- (i) by a copy of the proposed rules that are to govern the scheme and by such other documents (if any) as are prescribed in guidelines issued under section 6H; and (ii) by an application fee of such amount as is prescribed by the regulations. (5) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) As soon as practicable after receiving an application for the registration of a provident fund scheme, the Authority must consider the application. (7) The Authority may register a scheme only if satisfied that the scheme- (a) complies with, or will if registered comply with, such requirements and standards as are prescribed by the regulations referred to in section 21C; and (b) will be governed by the law of Hong Kong. (8) The Authority may, as a condition of registering a provident fund scheme under this section, require the applicant to enter into an undertaking with respect to the administration of the scheme, including- (a) in the case of an application to register a scheme as an employer sponsored scheme, an undertaking not to refuse an application for membership of the scheme made by or on behalf of a relevant employee of the participating employer; and (b) in the case of an application to register a scheme as a master trust scheme, an undertaking not to refuse an application for membership of the scheme made by or on behalf of any relevant employee or self-employed person. (9) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (10) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (11) On registering a provident fund scheme, the Authority must issue to the approved trustee of the scheme a certificate of registration. The certificate must specify whether the scheme is an employer sponsored scheme or a master trust scheme. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21A Applications for registration of schemes as industry schemes VerDate:18/01/2008 (1) The Authority may invite approved trustees that are companies to lodge with it applications to register a provident fund scheme as an industry scheme. (2) Such a scheme may be for the persons engaged (whether as employees or as self-employed persons) in a particular industry or a particular class of industries or in 2 or more industries or classes of industries. (3) The invitations sent or given to the approved trustees must be in writing and be identical in all material respects and must specify- (a) the criteria on which the consideration of applications will be based; and (b) the date by which applications must be lodged with the Authority. (4) An application by an approved trustee in response to an invitation sent or delivered under subsection (1) must- (a) specify particulars of the scheme sought to be registered and contain such other information as is specified in the invitation; and (b) be accompanied- (i) by a copy of the proposed rules that are to govern the scheme and by such other documents as are specified in the invitation; and (ii) by an application fee of such amount as is prescribed by the regulations; and (c) be made within the period specified in the invitation. (5) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) As soon as practicable after the date specified in the invitations sent or delivered under subsection (1), the Authority must- (a) consider the applications made in response to the invitation; and (b) from among the applicants, select the applicant that best satisfies the criteria specified in the invitation; and (c) register the scheme for the industry concerned and the successful applicant as the approved trustee of the scheme. (7) The Authority may register a scheme as an industry scheme only if satisfied that the scheme- (a) will, when registered, comply with such requirements and standards as are prescribed by the regulations referred to in section 21C; and (b) will be governed by the law of Hong Kong. (8) The Authority may, as a condition of registering a provident fund scheme as an industry scheme, require the applicant to give to the Authority an undertaking with respect to the administration of the scheme by deed, or by a document of like effect acceptable to the Authority, including an undertaking not to refuse- (a) an application for membership of the scheme made by or on behalf of- (i) any relevant employee who is employed in the industry concerned; or (ii) any self-employed person who is 18 years of age or over and below retirement age and engaged in the industry concerned; or (b) an application for participation in the scheme made by or on behalf of an employer engaged in the industry concerned; or (c) an application for membership of the scheme made only for the purpose of maintaining a preserved account within the scheme by a person who was previously engaged in the industry concerned. (Replaced 1 of 2008 s. 17) (8A) Without prejudice to the operation of subsection (8), on registering a provident fund scheme as an industry scheme, the Authority may impose such conditions with respect to the administration or marketing of the scheme as it considers appropriate. (Added 2 of 2002 s. 12) (9) An applicant is entitled to make representations (either orally or in writing or both) as to why the Authority should select the scheme specified in the applicant's application from among the applicants. (10) As soon as practicable after selecting the successful applicant, the Authority must notify that applicant of the selection and give written notices to the other applicants that their applications have been rejected. (11) On registering a provident fund scheme as an industry scheme, the Authority must- (a) publish in the Gazette a notice of that registration containing such particulars as are prescribed by the regulations; and (b) issue to the approved trustee of the scheme a certificate of registration and, if the Authority has imposed conditions under subsection (8A) with respect to the administration or marketing of the scheme, must specify those conditions in the certificate or in a document accompanying the certificate. (Amended 2 of 2002 s. 12) The certificate must specify that the scheme is an industry scheme. (12) Where the Authority- (a) has decided that it is appropriate to- (i) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of a registered scheme; or (ii) impose conditions with respect to the administration or marketing of a registered scheme; and (b) has given to the approved trustee- (i) not less than 30 days' advance notice of its decision, specifying its grounds; and (ii) an opportunity to make written representations as to why the conditions should not be amended or imposed, then the Authority may, by written notice served on the approved trustee- (c) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of the scheme; or (d) impose conditions with respect to the administration or marketing of the scheme. (Added 2 of 2002 s. 12) (13) The Authority may waive a person's compliance with a condition imposed under subsection (8A) or (12)- (a) in a particular case; and (b) where the person satisfies the Authority that such compliance is not, or has not been, reasonably practicable in all the circumstances of that case. (Added 2 of 2002 s. 12) (14) The Authority shall not impose under this section any conditions with respect to the marketing of a registered scheme, or amend any conditions imposed under this section with respect to the marketing of the scheme, unless the imposition or amendment, as the case may be, falls within the ambit of the guidelines. (Added 2 of 2002 s. 12) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21A Applications for registration of schemes as industry schemes VerDate:15/02/2002 (1) The Authority may invite approved trustees that are companies to lodge with it applications to register a provident fund scheme as an industry scheme. (2) Such a scheme may be for the persons engaged (whether as employees or as self-employed persons) in a particular industry or a particular class of industries or in 2 or more industries or classes of industries. (3) The invitations sent or given to the approved trustees must be in writing and be identical in all material respects and must specify- (a) the criteria on which the consideration of applications will be based; and (b) the date by which applications must be lodged with the Authority. (4) An application by an approved trustee in response to an invitation sent or delivered under subsection (1) must- (a) specify particulars of the scheme sought to be registered and contain such other information as is specified in the invitation; and (b) be accompanied- (i) by a copy of the proposed rules that are to govern the scheme and by such other documents as are specified in the invitation; and (ii) by an application fee of such amount as is prescribed by the regulations; and (c) be made within the period specified in the invitation. (5) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) As soon as practicable after the date specified in the invitations sent or delivered under subsection (1), the Authority must- (a) consider the applications made in response to the invitation; and (b) from among the applicants, select the applicant that best satisfies the criteria specified in the invitation; and (c) register the scheme for the industry concerned and the successful applicant as the approved trustee of the scheme. (7) The Authority may register a scheme as an industry scheme only if satisfied that the scheme- (a) will, when registered, comply with such requirements and standards as are prescribed by the regulations referred to in section 21C; and (b) will be governed by the law of Hong Kong. (8) The Authority may, as a condition of registering a provident fund scheme as an industry scheme, require the applicant to enter into an undertaking with respect to the administration of the scheme, including an undertaking not to refuse an application for membership of the scheme made by or on behalf of any relevant employee who is employed, or any self-employed person who is 18 years of age or over and below retirement age and engaged, in the industry concerned. (Amended 2 of 2002 s. 12) (8A) Without prejudice to the operation of subsection (8), on registering a provident fund scheme as an industry scheme, the Authority may impose such conditions with respect to the administration or marketing of the scheme as it considers appropriate. (Added 2 of 2002 s. 12) (9) An applicant is entitled to make representations (either orally or in writing or both) as to why the Authority should select the scheme specified in the applicant's application from among the applicants. (10) As soon as practicable after selecting the successful applicant, the Authority must notify that applicant of the selection and give written notices to the other applicants that their applications have been rejected. (11) On registering a provident fund scheme as an industry scheme, the Authority must- (a) publish in the Gazette a notice of that registration containing such particulars as are prescribed by the regulations; and (b) issue to the approved trustee of the scheme a certificate of registration and, if the Authority has imposed conditions under subsection (8A) with respect to the administration or marketing of the scheme, must specify those conditions in the certificate or in a document accompanying the certificate. (Amended 2 of 2002 s. 12) The certificate must specify that the scheme is an industry scheme. (12) Where the Authority- (a) has decided that it is appropriate to- (i) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of a registered scheme; or (ii) impose conditions with respect to the administration or marketing of a registered scheme; and (b) has given to the approved trustee- (i) not less than 30 days' advance notice of its decision, specifying its grounds; and (ii) an opportunity to make written representations as to why the conditions should not be amended or imposed, then the Authority may, by written notice served on the approved trustee- (c) amend any conditions imposed under subsection (8A) or this subsection with respect to the administration or marketing of the scheme; or (d) impose conditions with respect to the administration or marketing of the scheme. (Added 2 of 2002 s. 12) (13) The Authority may waive a person's compliance with a condition imposed under subsection (8A) or (12)- (a) in a particular case; and (b) where the person satisfies the Authority that such compliance is not, or has not been, reasonably practicable in all the circumstances of that case. (Added 2 of 2002 s. 12) (14) The Authority shall not impose under this section any conditions with respect to the marketing of a registered scheme, or amend any conditions imposed under this section with respect to the marketing of the scheme, unless the imposition or amendment, as the case may be, falls within the ambit of the guidelines. (Added 2 of 2002 s. 12) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21A Applications for registration of schemes as industry schemes VerDate:03/08/1999 (1) The Authority may invite approved trustees that are companies to lodge with it applications to register a provident fund scheme as an industry scheme. (2) Such a scheme may be for the persons engaged (whether as employees or as self-employed persons) in a particular industry or a particular class of industries or in 2 or more industries or classes of industries. (3) The invitations sent or given to the approved trustees must be in writing and be identical in all material respects and must specify- (a) the criteria on which the consideration of applications will be based; and (b) the date by which applications must be lodged with the Authority. (4) An application by an approved trustee in response to an invitation sent or delivered under subsection (1) must- (a) specify particulars of the scheme sought to be registered and contain such other information as is specified in the invitation; and (b) be accompanied- (i) by a copy of the proposed rules that are to govern the scheme and by such other documents as are specified in the invitation; and (ii) by an application fee of such amount as is prescribed by the regulations; and (c) be made within the period specified in the invitation. (5) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (6) As soon as practicable after the date specified in the invitations sent or delivered under subsection (1), the Authority must- (a) consider the applications made in response to the invitation; and (b) from among the applicants, select the applicant that best satisfies the criteria specified in the invitation; and (c) register the scheme for the industry concerned and the successful applicant as the approved trustee of the scheme. (7) The Authority may register a scheme as an industry scheme only if satisfied that the scheme- (a) will, when registered, comply with such requirements and standards as are prescribed by the regulations referred to in section 21C; and (b) will be governed by the law of Hong Kong. (8) The Authority may, as a condition of registering a provident fund scheme as an industry scheme, require the applicant to enter into an undertaking with respect to the administration of the scheme, including an undertaking not to refuse an application for membership of the scheme made by or on behalf of any relevant employee or self-employed person who is employed or engaged in the industry concerned. (9) An applicant is entitled to make representations (either orally or in writing or both) as to why the Authority should select the scheme specified in the applicant's application from among the applicants. (10) As soon as practicable after selecting the successful applicant, the Authority must notify that applicant of the selection and give written notices to the other applicants that their applications have been rejected. (11) On registering a provident fund scheme as an industry scheme, the Authority must- (a) publish in the Gazette a notice of that registration containing such particulars as are prescribed by the regulations; and (b) issue to the approved trustee of the scheme a certificate of registration. The certificate must specify that the scheme is an industry scheme. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21B Register of schemes to be kept VerDate:03/08/1999 (1) The Authority must establish and maintain a register of schemes registered under sections 21 and 21A. The register may be in such form, and contain such information, as the Authority may determine. (2) The register is to be kept at the head office of the Authority in Hong Kong. (3) Members of the public are entitled, without charge, to inspect the register during the ordinary business hours of the Authority. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21C Regulations with respect to registered schemes VerDate:01/12/2008 (1) Regulations may be made under section 46 as to the requirements and standards that must be complied with in relation to- (a) registered schemes; or (b) applications for the registration of provident fund schemes. (2) Those regulations may include requirements or standards as to the following matters- (a) the vesting in scheme members of accrued benefits; (b) the acceptance by approved trustees of mandatory contributions, voluntary contributions and special contributions under Part IIIA in respect of scheme members; (Amended 30 of 2008 s. 5) (c) the preservation of the accrued benefits of scheme members; (d) the payment of accrued benefits to or in respect of scheme members; (e) the transfer of accrued benefits from one scheme to another or from one account in a scheme to another account in the same scheme; (f) the investment of accrued benefits; (g) (Repealed 18 of 2008 s. 29) (h) the keeping of records (including accounting records) relating to registered schemes; (i) the provision of information about the relevant scheme to scheme members; (j) the preparation and publication of financial and other reports relating to schemes; (k) the provision of information and documents to the Authority relating to schemes; (l) the provision of information to other persons in relation to schemes; (m) the financial viability of schemes (including their funding and solvency). (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21C Regulations with respect to registered schemes VerDate:18/07/2008 (1) Regulations may be made under section 46 as to the requirements and standards that must be complied with in relation to- (a) registered schemes; or (b) applications for the registration of provident fund schemes. (2) Those regulations may include requirements or standards as to the following matters- (a) the vesting in scheme members of accrued benefits; (b) the acceptance by approved trustees of mandatory contributions, voluntary contributions and special contributions under Part IIIA in respect of scheme members; (Amended 30 of 2008 s. 5) (c) the preservation of the accrued benefits of scheme members; (d) the payment of accrued benefits to or in respect of scheme members; (e) the transfer of accrued benefits from one scheme to another or from one account in a scheme to another account in the same scheme; (f) the investment of accrued benefits; (g) in the case of schemes administered by trustees that are companies, the composition of the board of directors of those companies and the composition of committees of those boards; (h) the keeping of records (including accounting records) relating to registered schemes; (i) the provision of information about the relevant scheme to scheme members; (j) the preparation and publication of financial and other reports relating to schemes; (k) the provision of information and documents to the Authority relating to schemes; (l) the provision of information to other persons in relation to schemes; (m) the financial viability of schemes (including their funding and solvency). (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 21C Regulations with respect to registered schemes VerDate:03/08/1999 (1) Regulations may be made under section 46 as to the requirements and standards that must be complied with in relation to- (a) registered schemes; or (b) applications for the registration of provident fund schemes. (2) Those regulations may include requirements or standards as to the following matters- (a) the vesting in scheme members of accrued benefits; (b) the acceptance by approved trustees of mandatory contributions and voluntary contributions in respect of scheme members; (c) the preservation of the accrued benefits of scheme members; (d) the payment of accrued benefits to or in respect of scheme members; (e) the transfer of accrued benefits from one scheme to another or from one account in a scheme to another account in the same scheme; (f) the investment of accrued benefits; (g) in the case of schemes administered by trustees that are companies, the composition of the board of directors of those companies and the composition of committees of those boards; (h) the keeping of records (including accounting records) relating to registered schemes; (i) the provision of information about the relevant scheme to scheme members; (j) the preparation and publication of financial and other reports relating to schemes; (k) the provision of information and documents to the Authority relating to schemes; (l) the provision of information to other persons in relation to schemes; (m) the financial viability of schemes (including their funding and solvency). (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 22 Approved trustee to comply with prescribed requirements and standards VerDate:03/08/1999 The approved trustee of a registered scheme must, as far as reasonably practicable, ensure that the requirements and standards prescribed by the regulations referred to in section 21C are complied with in relation to the scheme. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 22A Annual statements to be lodged with the Authority VerDate:03/08/1999 (1) The approved trustee of a registered scheme must lodge with the Authority an annual statement not later than the date prescribed by the regulations for the purposes of this section. (2) The statement must include or be accompanied by the following- (a) the name and business address of the approved trustee; (b) such other information or documents as are prescribed by the regulations for the purposes of this section. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 22B Annual registration fee to be paid to the Authority VerDate:03/08/1999 (1) The approved trustee of a registered scheme must pay to the Authority an annual registration fee in respect of the scheme not later than the date on which the annual statement relating to the scheme is required to be lodged with the Authority under section 22A. (2) The annual registration fee is to be an amount prescribed by the regulations and may be determined by reference to the current value of the assets of a registered scheme. However, the amount must not be fixed at a level that exceeds that which will enable the Authority to recover the costs incurred, or likely to be incurred, in exercising and performing its functions with respect to registered schemes. (3) The amounts likely to be received by the Authority from other fees payable to it under this Ordinance are to be taken into account when fixing the level of the annual registration fee. (4) The amount at which the annual registration fee may be fixed is not to be affected by the fact that, in exercising or performing a function for or in relation to a particular person, the fee payable to the Authority by the person may exceed the actual cost to the Authority of exercising or performing the function. (5) The Authority may, by proceedings brought in a court of competent jurisdiction, recover from the approved trustee of a registered scheme as a debt an annual registration fee that is not paid on time. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 23 Residual Provident Fund Scheme VerDate:01/12/2000 (1) The Authority may establish, or arrange for the establishment of, a provident fund scheme, to be known as the "Residual Provident Fund Scheme", for the purpose specified in subsection (2). On establishing, or making arrangements for the establishment of, the Residual Provident Fund Scheme, the Authority must appoint a company that is an approved trustee to administer the scheme. (Replaced 4 of 1998 s. 2) (2) The principal purpose of the Residual Provident Fund Scheme established under subsection (1) is to provide, as a last resort only, membership of that Scheme to a relevant employee of an employer, or to a self-employed person where that employer or self-employed person, as the case may be- (a) (i) in the case of the employer, declares in writing to the Authority that he has not, through his own efforts or otherwise, been able to comply with the requirements of section 7(1); or (ii) in the case of the self-employed person, declares in writing to the Authority that he has not, through his own efforts or otherwise, been able to become a member of a registered scheme as required under section 7C; (Amended 4 of 1998 s. 2) (b) authorizes the Authority to assist him in obtaining access to a registered scheme for the purpose of compliance with the requirements referred to in paragraph (a), as applicable; (c) provides to the Authority all information and assistance as may reasonably be required by the Authority for that purpose, and in respect of that employer or self-employed person, as the case may be, the Authority has not succeeded in obtaining access to a registered scheme which would otherwise enable compliance with the requirements referred to in paragraph (a). (3) If, in the opinion of the Authority, it is desirable to do so, the Authority may authorize the Residual Provident Fund Scheme to have the following additional purposes- (a) to facilitate portability or transferability of accrued benefits to, from or between registered schemes; (b) to provide for any unclaimed accrued benefits; and (c) to achieve any other purposes of this Ordinance. (4) The Authority may make rules under section 47 for the purpose of this section for the efficient and effectual operation of the Residual Provident Fund Scheme. (5) In this section "employer" (僱主) includes a prospective employer, and "self-employed person" (自僱人士) includes a prospective self-employed person. (Enacted 1995) "employer" (僱主) "self-employed person" (自僱人士) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 24 Trustee's covenants in respect of governing rules VerDate:03/08/1999 Where the governing rules of a registered scheme do not expressly contain covenants by the approved trustee of the registered scheme to the same, or substantially the same, effect as the implied covenants specified in Schedule 5 as to the discharge of the fiduciary duties of approved trustees, the performance or exercise of their functions in relation to registered schemes, those governing rules shall apply as if the implied covenants in that Schedule were expressly contained therein and any contrary provision in those governing rules purporting otherwise is void. (Enacted 1995. Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 25 Duties of officers of corporate trustees VerDate:03/08/1999 If the approved trustee of a registered scheme is a company, each of the officers of the company has a duty to exercise a degree of care and diligence sufficient to ensure that, as far as reasonably practicable, the company- (a) complies with all requirements and standards prescribed by the regulations referred to in section 21C; and (b) fulfils the trustee's covenants (whether they are contained in the rules governing the scheme expressly or are implied because of section 24); and (c) performs all duties imposed on the trustee in accordance with section 27. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 26 Governing rules not to exempt approved trustee from liability for breach of trust etc. VerDate:03/08/1999 A provision of the governing rules of a registered scheme is void in so far as it purports to exempt the approved trustee of the scheme from, or to indemnify that trustee against- (a) liability for breach of trust for failure to act honestly as regards a matter concerning the scheme; or (b) liability for breach of trust for an intentional or reckless failure to exercise, as regards a matter concerning the scheme, the degree of care and diligence that is to be reasonably expected of a trustee who is exercising functions in relation to a trust; or (c) liability for a fine or penalty imposed by or under the law, or purports to limit any such liability. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 27 Duties and powers of approved trustees of registered schemes VerDate:03/08/1999 (1) An approved trustee shall comply with such duties in relation to a registered scheme as may be imposed by the regulations. (2) The duties that may be imposed by the regulations include (but are not limited to) the following- (a) the duty to collect or receive mandatory contributions; (b) the duty to exercise sufficient and adequate control over the investment of accrued benefits in relation to a registered scheme, including the control and supervision of persons responsible for such investment; (c) the duty to make arrangements for receiving and dealing expeditiously with inquiries and complaints by scheme members in relation to a registered scheme; (d) the duty to keep and retain records in respect of scheme members in relation to a registered scheme; (e) the duty to give to the Authority any information or document in the approved trustee's possession or under his control as may be required by the Authority; (f) the duty to report events of a significant nature to the Authority in relation to a registered scheme; (g) the duty to keep accounting records which record and explain the transactions and financial position of a registered scheme at a current date; (h) the duty to prepare at regular intervals financial statements in respect of a registered scheme; (i) in the case of an approved trustee of a registered scheme that is a company, the duty of each officer of the company to make such disclosures affecting the scheme or that could affect the scheme, as are prescribed by those regulations; (Added 4 of 1998 s. 2) (j) in the case of an approved trustee of a registered scheme who is a natural person, the duty of the person to make such disclosures affecting the scheme, or that could affect the scheme, as are prescribed by those regulations; (Added 4 of 1998 s. 2) (k) the duty of an approved trustee to keep a register of disclosures referred to in paragraph (i) or (j), as appropriate. (Added 4 of 1998 s. 2) (3) An approved trustee has the same duties as those imposed, the same powers as those conferred, on trustees by law, except in so far as they are expressly or impliedly modified by, or are inconsistent with, this Ordinance. (Replaced 4 of 1998 s. 2) (4) Whenever the approved trustee of a registered scheme is required or empowered by or under this Ordinance, or by the governing rules of the scheme, to delegate a duty of the trustee in relation to the scheme to a service provider, the delegation does not absolve the trustee- (a) from responsibility to ensure that the duty is performed in relation to the scheme; or (b) from the consequences of any failure by the service provider to perform that duty. (Added 4 of 1998 s. 2) (Enacted 1995. Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 28 Authority may publish guidelines on forbidden investment practices in relation to registered schemes VerDate:03/08/1999 (1) The Authority may, after consultation with the Financial Secretary, make and publish in the Gazette or otherwise guidelines, for the guidance of the trustees of registered schemes, specifying which investment practices ("forbidden investment practices") must not be engaged in by approved trustees of registered schemes because, in the opinion of the Authority, the forbidden investment practices may or are likely to prejudice the financial soundness of those registered schemes. (Amended 4 of 1998 s. 2) (2) For the purposes of subsection (1), the guidelines made under that subsection may be expressed to apply to all registered schemes or to a class of registered schemes specified therein. (3) (Repealed 4 of 1998 s. 2) (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 29 Restricted investments VerDate:03/08/1999 (1) The approved trustee of a registered scheme may invest the accrued benefits of scheme members in restricted investments- (a) only in so far as approved trustees are not prohibited by the regulations from investing those benefits in those investments; or (b) if approved trustees are not so prohibited, only in accordance with such limitations and conditions as are prescribed by the regulations. (Replaced 4 of 1998 s. 2) (2) In this section "restricted investments" (受限制投資項目) means any investments in respect of an employer (or an associate of an employer) who is employing scheme members comprising- (a) loans to that employer or associate, as the case may be, other than loans made by way of deposits with authorized institutions within the meaning of the Banking Ordinance (Cap 155); (b) shares or other securities of, or issued by, that employer or associate, as the case may be. (Enacted 1995) "restricted investments" (受限制投資項目) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 30 Report of auditor VerDate:03/08/1999 (1) If at any time the Authority reasonably believes that circumstances exist or have existed that may prejudice the accrued benefits of a member of a registered scheme, it may, by written notice served on the approved trustee of the scheme, require that trustee- (a) to arrange for an auditor (who must be approved by the Authority) to investigate whether or not any such circumstances exist or have existed and to investigate any other matters relating to the trustee or the scheme that may be specified in the notice and to prepare for the trustee a report on the investigation; and (b) to provide the Authority, within such period as may be specified in the notice, with a copy of the report. (Replaced 4 of 1998 s. 2) (2) The Authority may publish the report or supply the report to the scheme member referred to in subsection (1). (3) Any approved trustee who without reasonable excuse fails to comply with a notice in writing referred to in subsection (1) commits an offence and is liable on summary conviction to a fine at level 2. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 30A General power of inspection VerDate:03/08/1999 (1) An authorized person may, at any reasonable time during ordinary business hours, enter premises at which the person reasonably believes that- (a) the affairs of a registered scheme are being conducted; or (b) any document relating to the scheme is being kept, for the purpose of ascertaining whether or not the provisions of this Ordinance are being complied with. (2) Subsection (1) does not authorize an authorized person to enter premises that are being used as a private dwelling. (3) An authorized person may enter premises under this section without giving notice and without the consent of the occupier- (a) if entry is required urgently and the Authority has expressly authorized entry; or (b) if giving notice or obtaining the consent of the occupier would defeat the purpose for which it is intended to exercise the power of entry. In all other circumstances, an authorized person must give the occupier of the premises reasonable notice of the intention to enter the premises. (4) An authorized person who enters premises under this section may do any of the following- (a) inspect the premises and examine any record found on the premises that the person reasonably believes relates to a registered scheme; (b) take photographs of the premises or of any thing found on the premises that the authorized person reasonably believes relates to the scheme; (c) require the occupier of the premises or any person who is apparently an employee or agent of that occupier to provide the authorized person with such assistance and facilities as is or are reasonably necessary to enable the authorized person to exercise or perform that person's functions; (d) require any person on the premises to produce for inspection records under the control of the person relating to the scheme and, if any such records are not legible or are not in the English or Chinese language, to produce a statement in writing in English or Chinese setting out the contents of those records; (e) make copies of all or any part of any such records or statements. (5) A person may exercise a power conferred by this section only if the person- (a) is in possession of a warrant of authority issued by the Authority; and (b) on being requested to do so, produces that warrant to the occupier of the premises sought to be entered, inspected or examined or to any other person in relation to whom it is sought to exercise that power. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 31 Information and documents VerDate:03/08/1999 (1) The Authority may, by notice in writing served on an approved trustee of a registered scheme, require the approved trustee to give to the Authority within such period as may be specified in the notice any information or document relating to the scheme that is specified in the notice, but only if the information or document is in the possession, or under the control, of that trustee. (2) Any approved trustee who, without reasonable excuse, fails to comply with a notice in writing referred to in subsection (1) commits an offence and is liable on summary conviction to a fine at level 6. (Enacted 1995. Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 32 Investigation VerDate:03/08/1999 (1) The Authority may, by written notice served on the approved trustee of a registered scheme, notify that trustee that the Authority intends to investigate the matters specified in the notice on the ground that the Authority reasonably believes that- (a) a person has contravened this Ordinance with respect to the scheme; or (b) circumstances may exist that could prejudice the interests of scheme members; or (c) the trustee is failing, or has failed, to fulfil the trustee's duties with respect to the scheme. (Replaced 4 of 1998 s. 2) (1A) The Authority must, as soon as practicable after serving such a notice, investigate the matters specified in the notice. (Added 4 of 1998 s. 2) (2) The Authority may appoint one or more competent persons to be inspectors to conduct an investigation under this section. (3) For the purpose of conducting an investigation, an inspector may do any of the following- (a) enter premises (other than premises referred to in subsection (3A)) if the inspector reasonably believes that it is necessary to enter those premises because they may have some connection with a registered scheme; (b) inspect those premises and make copies of records found on the premises that the inspector reasonably believes may relate to the financial or other affairs of the scheme; (c) require the trustee of the scheme or any other person who the inspector reasonably believes has custody of records relating to the affairs of the trustee or the scheme to produce the records to the inspector; (d) require the trustee or any other person who the inspector reasonably believes has information concerning the affairs of the scheme- (i) to give all reasonable assistance to the inspector in connection with the investigation; and (ii) to appear before the inspector at a time and place specified by the inspector in writing to be examined with respect to the matters relating to the affairs of the trustee or the scheme and to answer questions that the inspector may put to the trustee or other person. (Replaced 4 of 1998 s. 2) (3A) If premises are being used as private dwelling, an inspector may enter and search those premises only under the authority of a warrant issued under subsection (3B). (Added 4 of 1998 s. 2) (3B) A magistrate may, on an application made by or on behalf of an inspector, issue a warrant authorizing the inspector to enter and search premises referred to in subsection (3A) if satisfied by information made on oath that there are reasonable grounds for suspecting- (a) that the premises may have some connection with a particular registered scheme; and (b) that there may be on the premises records relating to the affairs of the trustee or the scheme. (Added 4 of 1998 s. 2) (3C) An inspector who enters premises under the authority of a warrant issued under this section may take possession of any records that the inspector reasonably believes relate to the affairs of the trustee or the scheme. (Added 4 of 1998 s. 2) (4) If an inspector is satisfied that any person has, without reasonable excuse, failed to comply with any reasonable request in respect of his investigation or any requirement made under this Ordinance in respect of that investigation, the inspector may, by complaint made to the Court, certify the failure of that person to so comply. (5) On the receipt of a certificate made under subsection (4), the Court may inquire into the case and, after hearing any statement that may be offered by way of an explanation by the person who is the subject of the complaint, may accept that explanation or alternatively punish that person in the same way as a person who is found guilty of a contempt of court. (6) A person is not excused from answering a question that may be put to him by an inspector under this section on the ground that the answer may tend to incriminate him but, if the person claims, before answering the question, that the answer may tend to incriminate him, neither the question put to him by the inspector nor the answer of the person is admissible in evidence against the person in criminal proceedings other than in proceedings relating to a charge of perjury in respect of the answer. (7) Any person who fails to produce any document or record required to be produced under subsection (3) with the intention of obstructing, delaying or otherwise frustrating the commencement, progress or completion of an investigation under this section commits an offence and is liable on summary conviction to a fine at level 6 and to imprisonment for 1 year. (8) On the completion of an investigation by an inspector under this section, the inspector shall prepare a report setting out his findings concerning the circumstances or other matters investigated by him and any other relevant matters arising out of the investigation that the inspector reasonably believes should be included in the report and shall submit that report to the Authority. (9) On receiving a report of an investigation conducted under this section, the Authority must provide a copy of the report to the approved trustee of the registered scheme concerned. The Authority may also do either or both of the following- (a) provide a copy of the report to any person who appears to the Authority to have an interest in the scheme; (b) publish the report or any part of it in such publication as it considers appropriate. (Replaced 4 of 1998 s. 2) (10) Nothing in this section requires disclosure to an inspector appointed under subsection (2)- (a) by a solicitor of any privileged communication made to him in that capacity, except as respects the name and address of his client; or (b) by an authorized institution within the meaning of the Banking Ordinance (Cap 155) relating to the affairs of a customer unless- (i) that customer is a person who the inspector reasonably believes may be able to give information relevant to the investigation; and (ii) the Authority is satisfied that the disclosure is necessary for the purposes of the investigation and certifies in writing that this is the case. (Enacted 1995. Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 33 Suspension and termination of approved trustee's administration of registered scheme VerDate:03/08/1999 (1) The Authority may, by written notice served on an approved trustee of a registered scheme, suspend the trustee's administration of the scheme if the Authority reasonably believes- (a) that the trustee's conduct with respect to the scheme is having, has had or could have an adverse effect on the financial soundness of the scheme or the interests of the scheme members; or (b) that the trustee is engaging, or has engaged, in a forbidden investment practice specified in guidelines published under section 28. (2) A notice under subsection (1) must specify- (a) the period for which the approved trustee's administration of the scheme is to be suspended; and (b) the grounds for the suspension. (3) A suspension of an approved trustee's administration of a registered scheme takes effect from the date specified in the notice served under subsection (1) or, if a later date is specified, from that date, irrespective of whether or not the trustee appeals against the suspension under Part V. (4) The Authority may, if it reasonably believes that it is necessary to do so, extend the period of an approved trustee's suspension by serving a further notice on the approved trustee concerned. (5) As soon as practicable after suspending an approved trustee's administration of a registered scheme, the Authority must hold an inquiry to determine whether or not the trustee's administration of the scheme should be terminated. The inquiry is to be held in accordance with Schedule 5A. (6) The Authority must terminate the approved trustee's administration of a registered scheme if, at the conclusion of an inquiry held under this section, the Authority is satisfied- (a) that the trustee's conduct with respect to the scheme is having, has had or could have an adverse effect on the financial soundness of the scheme or the interests of the scheme members; or (b) that the trustee is engaging or has engaged in a forbidden investment practice specified in guidelines published under section 28. (7) An approved trustee's administration of a registered scheme is also terminated if the trustee's approval is revoked under section 20B. (8) An approved trustee's administration of a registered scheme is also suspended if the trustee's approval is suspended under section 20A. (9) An approved trustee's administration of a registered scheme may also be terminated by the resignation of the trustee but only with the prior written approval of the Authority. That approval may be given only when the Authority is satisfied that adequate arrangements have been made for another approved trustee to assume responsibility for the administration of the scheme and for the legal interest in the scheme assets to be transferred to that other trustee. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 33A Authority to appoint administrator on suspension or termination of trustee's administration VerDate:03/08/1999 (1) If- (a) the administration of an employer sponsored scheme by a trustee is suspended or terminated; and (b) after the suspension or termination- (i) there are no other trustees of the scheme; or (ii) there is only one remaining trustee (not being a company); or (iii) if each of the remaining trustees is a natural person, there is no remaining independent trustee, the Authority must, as soon as practicable after the suspension or termination of administration, appoint an administrator to replace the trustee whose administration of the scheme has been suspended or terminated until the suspension ends or the vacancy resulting from the termination is filled. (2) A person appointed under subsection (1) must, as far as possible, be an approved trustee. (3) However, if the Authority is unable to find an approved trustee who is willing to act as an administrator of the registered scheme concerned, it may appoint as administrator a person who is not an approved trustee. (4) If- (a) the administration of a master trust scheme or an industry scheme by a trustee is suspended or terminated; and (b) there are no other trustees of the scheme, the Authority must, as soon as practicable after the suspension or termination of administration, appoint an administrator to administer the scheme to replace the trustee whose administration of the scheme has been suspended or terminated until the suspension ends or the vacancy resulting from the termination is filled. (5) A person appointed under subsection (4) must, as far as possible, be an approved trustee that is a company. (6) However, if the Authority is unable to find an approved trustee that is a company who is willing to act as an administrator of the registered scheme concerned, it may appoint as administrator a person who is not an approved trustee or an approved trustee that is not a company. (7) An appointment under this section is to be on such terms and conditions as are specified in the appointment, including the fees that are to be payable to the approved trustee. If a person appointed under this section is not an approved trustee, the terms and conditions are, as nearly as practicable, to be those applicable to such a trustee. (8) The Authority may terminate the appointment of an administrator after giving reasonable notice to the administrator and may- (a) if the approved trustee's administration of the scheme is suspended and the suspension has not ended; or (b) if that trustee's administration of the scheme is terminated, in accordance with this section appoint another administrator to administer the scheme. (9) The administrator of a registered scheme may resign by giving to the Authority not less than 30 days' written notice of the resignation. (10) An administrator of a registered scheme may deal with the scheme assets as if the legal interest in those assets was vested in the administrator or, where the administrator consists of 2 or more persons, was vested in those persons jointly. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 33B Authority to appoint replacement trustee on termination of approved trustee's administration VerDate:03/08/1999 (1) If- (a) the administration of an employer sponsored scheme by a trustee has been terminated; and (b) after the termination- (i) there are no other trustees of the scheme; or (ii) there is only one remaining trustee (not being a company); or (iii) if each of the remaining trustees is a natural person, there is no remaining independent trustee, the Authority must, as soon as practicable after the termination, take all reasonable steps to appoint another approved trustee to replace the trustee whose administration of the scheme was terminated. (2) A person appointed under subsection (1) must be an approved trustee. (3) If- (a) the administration of a master trust scheme or an industry scheme by a trustee has been terminated; and (b) there are no other trustees of the scheme, the Authority must take all reasonable steps to appoint another approved trustee to replace the trustee whose administration of the scheme was terminated. (4) A person appointed under subsection (3) must be an approved trustee that is a company. (5) An appointment under this section is to be on such terms and conditions as are specified in the appointment, including the fees that are to be payable to the approved trustee. (6) The legal interest in the assets of a registered scheme in respect of which an approved trustee is appointed under this section becomes vested in the trustee on that appointment. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34 Voluntary winding up of employer sponsored scheme VerDate:01/12/2000 (1) An employer sponsored scheme may be wound up voluntarily in such circumstances as are prescribed by the regulations, but only with the written consent of the Authority. That consent may be given only if the Authority is satisfied that- (a) there are no longer any scheme members or, if there are any such members, the interests of those members are adequately protected and, if those members continue to have accrued benefits in the scheme, satisfactory arrangements have been made for the transfer of those benefits to another registered scheme; and (b) all existing liabilities relating to the scheme (including obligations to scheme members) can be met from the scheme assets. (2) The approved trustee of an employer sponsored scheme, or any other person of a class prescribed by the regulations for the purposes of this subsection, may make an application to the Authority to give its consent to the voluntary winding up of the scheme. (3) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as are prescribed by the regulations; and (c) be accompanied by an application fee of such amount (if any) as is so prescribed. (4) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (5) The regulations may prescribe conditions that the Authority may or must impose as a condition of giving its consent to the voluntary winding up of the scheme, including requirements that must be complied with by the approved trustee of the scheme or by the participating employer concerned. (6) The Authority must not refuse to give its consent to the voluntary winding up of the scheme without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the Authority should consent to the winding up. (7) If the Authority refuses to consent to the voluntary winding up of the scheme, it must give written notice of the refusal to the applicants and must include in the notice a statement setting out the reasons for the refusal. (8) On consenting to the voluntary winding up of an employer sponsored scheme, the Authority may appoint a liquidator to wind up the affairs of the scheme. More than one liquidator may be appointed under this subsection if the Authority thinks it necessary. (9) A liquidator appointed under subsection (8) must have such qualifications as are specified in the regulations. (10) The appointment of a liquidator under subsection (8) is to be on such terms and conditions as are specified in the appointment, including the fees that are to be payable to the liquidator. (11) The voluntary winding up of an employer sponsored scheme is to be conducted in accordance with regulations made under section 46 for the purposes of this section. (12) On being satisfied that the winding up of a registered scheme has been completed in accordance with this section, the Authority must cancel the registration of the scheme. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34A Winding up of registered schemes otherwise than in accordance with section 34 or 34D VerDate:15/02/2002 (1) Except as provided by section 34 or 34D, a registered scheme may be wound up only by the Court on application made by the Authority. (Amended 2 of 2002 s. 13) (2) In winding up a registered scheme, the Court must satisfy itself- (a) that the interests of scheme members are adequately protected; and (b) if those members continue to have accrued benefits in the scheme, that satisfactory arrangements are made for the transfer of those benefits to another registered scheme. (3) The Court may appoint a liquidator to conduct the winding up of a registered scheme and, subject to the regulations, may specify the duties to be performed by the liquidator in relation to the conduct of the winding up. More than one liquidator may be appointed under this subsection if the Court thinks it necessary. (4) A liquidator appointed under subsection (3) must have such qualifications as are specified in the regulations. (5) The appointment of a liquidator under subsection (3) is to be on such terms and conditions as are specified in the appointment, including the fees that are to be payable to the liquidator. (6) The winding up of a registered scheme under this section is to be conducted in accordance with winding up rules made in accordance with subsection (7). Those rules may include provision for the payment of fees with respect to the proceedings relating the winding up of such a scheme and may specify by whom and to whom those fees are to be paid and the manner in which they are to be paid. (7) The winding up rules referred to in subsection (6) are to be made by the Rules Committee constituted under section 55 of the High Court Ordinance (Cap 4) and may be amended by that Committee as and when necessary. (Amended 31 of 1999 s. 3) (8) Winding up rules made for the purposes of this section are to be judicially noticed. (9) On being satisfied that the winding up of a registered scheme has been completed in accordance with this section, the Authority must cancel the registration of the scheme. (10) In this section, "liquidator" (清盤人) includes a provisional liquidator. (Added 4 of 1998 s. 2) "liquidator" (清盤人) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34A Winding up of registered schemes otherwise than in accordance with section 34 VerDate:01/12/2000 (1) Except as provided by section 34, a registered scheme may be wound up only by the Court on application made by the Authority. (2) In winding up a registered scheme, the Court must satisfy itself- (a) that the interests of scheme members are adequately protected; and (b) if those members continue to have accrued benefits in the scheme, that satisfactory arrangements are made for the transfer of those benefits to another registered scheme. (3) The Court may appoint a liquidator to conduct the winding up of a registered scheme and, subject to the regulations, may specify the duties to be performed by the liquidator in relation to the conduct of the winding up. More than one liquidator may be appointed under this subsection if the Court thinks it necessary. (4) A liquidator appointed under subsection (3) must have such qualifications as are specified in the regulations. (5) The appointment of a liquidator under subsection (3) is to be on such terms and conditions as are specified in the appointment, including the fees that are to be payable to the liquidator. (6) The winding up of a registered scheme under this section is to be conducted in accordance with winding up rules made in accordance with subsection (7). Those rules may include provision for the payment of fees with respect to the proceedings relating the winding up of such a scheme and may specify by whom and to whom those fees are to be paid and the manner in which they are to be paid. (7) The winding up rules referred to in subsection (6) are to be made by the Rules Committee constituted under section 55 of the High Court Ordinance (Cap 4) and may be amended by that Committee as and when necessary. (Amended 31 of 1999 s. 3) (8) Winding up rules made for the purposes of this section are to be judicially noticed. (9) On being satisfied that the winding up of a registered scheme has been completed in accordance with this section, the Authority must cancel the registration of the scheme. (10) In this section, "liquidator" (清盤人) includes a provisional liquidator. (Added 4 of 1998 s. 2) "liquidator" (清盤人) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34B Authority may consent to restructuring of registered schemes* VerDate:18/01/2008 (1) The approved trustee of a registered scheme or the approved trustees of 2 or more registered schemes may apply to the Authority to consent to the restructuring of the scheme or schemes, as the case may be. (Replaced 29 of 2002 s. 9. Amended 1 of 2008 s. 46) (2) (Repealed 29 of 2002 s. 9) (3) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as are prescribed by the rules; and (c) be accompanied by an application fee of such amount as is so prescribed. (4) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (5) As soon as practicable after receiving an application to consent to the restructuring of a registered scheme or registered schemes, the Authority must consider the application. The Authority may consent to the restructuring only if satisfied- (a) that the interests of the members of the scheme or those schemes, as the case may be, will be adequately protected and that, if the restructuring is consented to, their accrued benefits will be transferred to the transferee scheme or schemes, as the case may be, as appropriate; and (b) that the transferee scheme or schemes, as the case may be, will be governed by the law of Hong Kong; and (c) that the transferee scheme or schemes, as the case may be, complies or comply with, or will if the restructuring is consented to, comply with, such requirements and standards as are prescribed by the regulations referred to in section 21C. (Replaced 29 of 2002 s. 9) (6) The Authority must not reject an application under this section without giving the applicant or applicants, as the case may be, an opportunity to make representations (either orally or in writing or both) as to why the Authority should consent to the restructuring of the scheme or schemes, as the case may be. (Replaced 29 of 2002 s. 9) (7) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicants and must include in the notice a statement setting out the reasons for the rejection. (8) On registering a new scheme derived from the restructuring of an existing scheme or schemes, the Authority must issue to the approved trustee of the new scheme a certificate of registration and cancel the registration of the existing scheme or such of the existing schemes as is appropriate as a result of the restructuring. The certificate must specify that the new scheme is an employer sponsored scheme, a master trust scheme, or an industry scheme, as the case requires. (Replaced 29 of 2002 s. 9) (9) The restructuring of a registered scheme or registered schemes that is carried out with the consent of the Authority under this section is, notwithstanding any provision of this Ordinance or the governing rules of the scheme or schemes, binding on the approved trustee or trustees of the scheme or schemes, all participating employers and scheme members in the scheme or schemes and all other parties bound by the governing rules of the scheme or schemes. (Added 1 of 2008 s. 46) (10) The Authority's consent to the restructuring of a registered scheme or registered schemes does not affect the right of a participating employer or scheme member in the scheme or any of the schemes to elect to have the accrued benefits of the member transferred under Part XII of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A). (Added 1 of 2008 s. 46) (11) In this section, a reference to a restructuring of a registered scheme or registered schemes is a reference to any arrangement under which the members of the scheme or schemes, or the accrued benefits of the members of the scheme or schemes, are transferred to another registered scheme or other registered schemes. (Added 1 of 2008 s. 46) (Added 4 of 1998 s. 2) ___________________________________________________________________________ _____________ * (Replaced 1 of 2008 s. 46) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34B Power to restructure registered schemes VerDate:19/07/2002 (1) The approved trustee of a registered scheme or the approved trustees of 2 or more registered schemes may apply to the Authority to consent to the restructuring of the scheme or schemes, as the case may be, including restructuring by the merger or division of the scheme or those schemes, as the case may be, with or into other existing or new scheme or schemes of the same kind. (Replaced 29 of 2002 s. 9) (2) (Repealed 29 of 2002 s. 9) (3) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as are prescribed by the rules; and (c) be accompanied by an application fee of such amount as is so prescribed. (4) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (5) As soon as practicable after receiving an application to consent to the restructuring of a registered scheme or registered schemes, the Authority must consider the application. The Authority may consent to the restructuring only if satisfied- (a) that the interests of the members of the scheme or those schemes, as the case may be, will be adequately protected and that, if the restructuring is consented to, their accrued benefits will be transferred to the transferee scheme or schemes, as the case may be, as appropriate; and (b) that the transferee scheme or schemes, as the case may be, will be governed by the law of Hong Kong; and (c) that the transferee scheme or schemes, as the case may be, complies or comply with, or will if the restructuring is consented to, comply with, such requirements and standards as are prescribed by the regulations referred to in section 21C. (Replaced 29 of 2002 s. 9) (6) The Authority must not reject an application under this section without giving the applicant or applicants, as the case may be, an opportunity to make representations (either orally or in writing or both) as to why the Authority should consent to the restructuring of the scheme or schemes, as the case may be. (Replaced 29 of 2002 s. 9) (7) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicants and must include in the notice a statement setting out the reasons for the rejection. (8) On registering a new scheme derived from the restructuring of an existing scheme or schemes, the Authority must issue to the approved trustee of the new scheme a certificate of registration and cancel the registration of the existing scheme or such of the existing schemes as is appropriate as a result of the restructuring. The certificate must specify that the new scheme is an employer sponsored scheme, a master trust scheme, or an industry scheme, as the case requires. (Replaced 29 of 2002 s. 9) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34B Power to merge registered schemes VerDate:01/12/2000 (1) The approved trustees of 2 or more registered schemes that are employer sponsored schemes or master trust schemes may apply to the Authority to consent to the merger of those schemes into a single new scheme of the same kind. (2) The approved trustees of a number of registered schemes exceeding 2 (being employer sponsored schemes or master trust schemes) may apply to the Authority to consent to the merger of those schemes into a smaller number of new schemes of the same kind. (3) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as are prescribed by the rules; and (c) be accompanied by an application fee of such amount as is so prescribed. (4) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (5) As soon as practicable after receiving an application to consent to the merger of registered schemes, the Authority must consider the application. The Authority may consent to the merger only if satisfied- (a) that the interests of the members of those schemes will be adequately protected and that, if the merger is approved, their accrued benefits will be transferred to the new scheme; and (b) that the new scheme will be governed by the law of Hong Kong; and (c) that the new scheme complies with, or will if the merger is consented to, comply with, such requirements and standards as are prescribed by the regulations referred to in section 21C. (6) The Authority must not reject an application under this section without giving the applicants an opportunity to make representations (either orally or in writing or both) as to why the Authority should consent to the merger of the schemes. (7) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicants and must include in the notice a statement setting out the reasons for the rejection. (8) On registering a scheme derived from the merger of existing schemes, the Authority must issue to the approved trustee of the new scheme a certificate of registration and cancel the registration of the merged schemes. The certificate must specify that the scheme is an employer sponsored scheme or a master trust scheme, as the case requires. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34C (Repealed 29 of 2002 s. 10) VerDate:19/07/2002 MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34C Power to divide registered scheme VerDate:01/12/2000 (1) The approved trustee of a registered scheme that is an employer sponsored scheme or a master trust scheme may apply to the Authority to consent to the division of the scheme into 2 or more new schemes of the same kind. (2) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as are prescribed by the rules; and (c) be accompanied by an application fee of such amount as is so prescribed. (3) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (4) As soon as practicable after receiving an application to consent to the division of a registered scheme, the Authority must consider the application. The Authority may consent to the division of the scheme only if satisfied- (a) that the interests of the members of the scheme will be adequately protected and that, if the division is approved, their accrued benefits will be transferred to one of the new schemes; and (b) that the new schemes will be governed by the law of Hong Kong; and (c) that the new schemes comply with, or will if the division is approved, comply with, such requirements and standards as are prescribed by the regulations referred to in section 21C. (5) The Authority must not reject an application under this section without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected. (6) If the Authority rejects an application made under this section, it must give written notice of the rejection to the applicant and must include in the notice a statement setting out the reasons for the rejection. (7) On registering the new schemes, the Authority must issue to the approved trustee of those schemes certificates of registration and cancel the registration of the divided scheme. The certificates of registration must specify whether the new schemes are employer sponsored schemes or master trust schemes. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 34D Cancellation of registration of registered scheme which has no scheme members, etc. VerDate:15/02/2002 (1) On being satisfied on the application of the approved trustee of a registered scheme that the scheme has no scheme members, no scheme assets and no liabilities (including obligations to participating employers and scheme members), the Authority must cancel the registration of the scheme. (2) An application must- (a) be in a form approved by the Authority; and (b) contain such information, and be accompanied by such documents, as are specified in the form. (3) The Authority may, by written notice, require an applicant to provide such additional information and documents as are reasonably necessary to enable it to determine the application. If such a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application. (Added 2 of 2002 s. 14) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 35 Appeal Board VerDate:03/08/1999 PART V APPEALS (1) Any person aggrieved by any decision specified in Schedule 6 may appeal to an Appeal Board called in English the "Mandatory Provident Fund Schemes Appeal Board" and in Chinese "強制性公積金計劃上訴委員會". An appeal must be made within the period prescribed by the regulations. (Amended 4 of 1998 s. 2) (2) The Chief Executive shall appoint a person to be the Chairman of the Appeal Board and such other person or such number of other persons as he thinks fit to be the Deputy Chairman or Deputy Chairmen of the Appeal Board. (Amended 4 of 1998 s. 2) (3) Subject to subsection (7), the Chairman or any Deputy Chairman shall be appointed for a term of not more than 2 years but may be reappointed. (4) A person appointed under subsection (2) shall be a solicitor or barrister admitted under the Legal Practitioners Ordinance (Cap 159). (5) The Chief Executive shall appoint a panel of persons not being public officers whom he considers suitable for appointment under section 36 as members of the Appeal Board. (Amended 4 of 1998 s. 2) (6) An appointment under subsection (2) or (5) shall be notified in the Gazette. (7) The Chairman and any Deputy Chairman or person appointed under subsection (5) may at any time resign by notice in writing to the Chief Executive. (Amended 4 of 1998 s. 2) (8) The Chairman and any Deputy Chairman or person appointed under subsection (5) shall be remunerated out of money provided by the Legislative Council for that purpose at a rate that the Financial Secretary may determine. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 36 Constitution and powers of Appeal Board VerDate:03/08/1999 (1) The Appeal Board shall consist of the Chairman or any Deputy Chairman who shall preside at the hearing and such number of persons, not being fewer than 2, from the panel referred to in section 35(5) as the Chairman may appoint to be members of the Appeal Board to hear any appeal. (2) In relation to the hearing of appeals every question before the Appeal Board shall be determined by the opinion of the majority of the members hearing the appeal except a question of law which shall be determined by the Chairman or (where appropriate) the Deputy Chairman and in the case of an equality of votes the Chairman or Deputy Chairman shall have a casting vote. (3) In hearing an appeal the Appeal Board may- (a) receive and consider any material, whether by way of oral evidence, written statements, documents or otherwise, and whether or not it would be admissible in a court of law; (b) by notice in writing signed by the Chairman, summon any person- (i) to produce to it any document that is relevant to the appeal and is in his custody or under his control; or (ii) to appear before it and to give evidence relevant to the appeal; (c) administer oaths and affirmations; (d) require evidence to be given on oath or affirmation; (e) make an award of such sum, if any, in respect of the costs involved in the appeal as is just and equitable in all the circumstances of the case. (4) After hearing an appeal made in respect of any decision specified in Schedule 6 the Appeal Board may uphold, vary or quash that decision and make such consequential orders as may be necessary. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 37 Appeal Board's decision is final VerDate:03/08/1999 Subject to section 39, the determination of an appeal by the Appeal Board or any order as to costs made by the Appeal Board shall be final. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 38 Supplementary provisions relating to appeals VerDate:03/08/1999 (1) The procedure and practice of the Appeal Board shall, subject to this Ordinance, be determined by the Chairman. (2) If the Chairman is precluded by illness, absence from Hong Kong or any other cause from exercising his functions, the Chief Executive may appoint any Deputy Chairman to act as Chairman and as such to exercise all the functions of the Chairman during the period of his appointment. (Amended 4 of 1998 s. 2) (3) If a person appointed by the Chairman under section 36(1) to hear an appeal is precluded by illness, absence from Hong Kong or any other cause from exercising his functions, the Chairman may appoint any other person from the panel referred to in section 35(5) to act in his place. (4) At the hearing of an appeal, the appellant is entitled to appear in person or to be represented by any of the following persons- (a) a legal practitioner; (b) if the appellant is a company, any of its officers or employees; (c) if the appellant is a partnership, any of its partners or employees; (d) with the leave of the Appeal Board, any other person. (Replaced 4 of 1998 s. 2) (4A) At the hearing of an appeal, the Authority is entitled to be represented by any of the following persons- (a) the Managing Director; (b) any of the Authority's employees; (c) a legal practitioner; (d) with the leave of the Appeal Board, any other person. (Added 4 of 1998 s. 2) (5) In relation to any appeal to the Appeal Board, the members of the Appeal Board, the appellant, and any witness, representative or other person appearing before the Appeal Board shall have the same privileges and immunities as they would have if the proceedings were civil proceedings before a court. (6) A sum awarded to the Authority under section 36(3) as costs is recoverable by the Authority in a court of competent jurisdiction as a debt due to the Authority. (Replaced 4 of 1998 s. 2) (7) A sum awarded against the Authority under section 36(3) as costs is recoverable from the Authority in a court of competent jurisdiction as a debt. (Added 4 of 1998 s. 2) (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 39 Case may be stated for Court of Appeal VerDate:03/08/1999 (1) The Appeal Board may refer any question of law arising in an appeal to the Court of Appeal for determination by way of case stated. (2) On the hearing of the case, the Court of Appeal may either- (a) determine the question stated; or (b) remit the case to the Appeal Board, in whole or in part, for reconsideration in the light of the Court's determination. (Replaced 4 of 1998 s. 2) (3) Where a case is stated under subsection (1), the Appeal Board shall not determine the relevant appeal before the Court of Appeal determines the relevant point of law. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 40 Offences relating to appeal VerDate:03/08/1999 Any person who, without reasonable excuse, refuses or fails- (a) to attend and give evidence when required to do so by the Appeal Board; or (b) to answer truthfully, and completely questions put to him by the Appeal Board; or (c) to produce any document which he is required by the Appeal Board to produce, commits an offence and is liable on summary conviction to a fine at level 4. (Enacted 1995. Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 41 Persons not to disclose certain information VerDate:03/08/1999 PART VI MISCELLANEOUS (1) A person who obtains information in the exercise or performance of functions conferred or imposed by or under this Ordinance- (a) must not disclose the information to any other person, unless the disclosure is necessary in order to exercise or perform those functions; and (b) must not enable another person to have access to the information, except in so far as that access is necessary to allow that other person to exercise or perform functions under or for the purposes of this Ordinance. (2) Subsection (1) does not prevent the disclosure of, or the provision of access to, information (not being information contained in a report referred to in section 7C(4)) in accordance with an order of a court or in accordance with a law or a requirement made under a law. (3) A person who, without lawful authority, contravenes subsection (1) commits an offence and is liable on conviction to a fine at level 4. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 42 Authority may disclose certain information despite section 41 VerDate:18/01/2008 (1) Section 41 does not prevent the Authority from doing any of the following with respect to information obtained by it under this Ordinance- (a) disclose the information as a summary compiled from information provided by persons in accordance with this Ordinance but only if the summary is compiled so as to prevent the identities and businesses of those persons from being ascertained from the summary; (b) disclose the information for the purposes of any criminal proceedings in Hong Kong or an investigation conducted with a view to bringing any such proceedings; (c) disclose the information in connection with any civil proceedings to which the Authority is a party or with a view to bringing any such proceedings; (ca) disclose the information in such form as the Authority considers appropriate but only if the information has been made available to members of the public by virtue of being disclosed in any circumstances in which, or for any purpose for which, disclosure is not precluded by section 41; (Added 1 of 2008 s. 37) (d) subject to subsection (2), disclose the information to the Chief Executive, the Financial Secretary, the Commissioner of Inland Revenue, the Registrar of Occupational Retirement Schemes, the Insurance Authority, the Monetary Authority, the Securities and Futures Commission, the Financial Reporting Council established by section 6(1) of the Financial Reporting Council Ordinance (Cap 588), the Official Receiver appointed under the Bankruptcy Ordinance (Cap 6) or a liquidator appointed under the Companies Ordinance (Cap 32), but only if the Authority reasonably believes that the disclosure- (Amended L.N. 106 of 2002; 18 of 2006 s. 83; 1 of 2008 s. 37) (i) is in the interests of the scheme members concerned; or (ii) is in the public interest; or (iii) is necessary to enable the exercise or performance of a function imposed or conferred by law; (e) disclose the information to a body specified in accordance with subsection (4), but only if the Authority- (i) is satisfied that the information will be used only in disciplinary proceedings brought or proposed to be brought against a member of the body; and (ii) considers that the disclosure is appropriate; (Amended 1 of 2008 s. 37) (f) disclose the information with the consent of the person from whom the information was obtained or received and, if the information relates to a different person, with the consent also of the person to whom the information relates; (Added 1 of 2008 s. 37) (g) disclose the information relating to provident fund schemes or constituent funds or approved pooled investment funds, but only if the Authority considers that it could- (i) promote understanding by the public of the retirement scheme industry in Hong Kong and of the benefits, risks and liabilities associated with investing in provident fund schemes or occupational retirement schemes; (ii) promote understanding by the public of the importance of making informed decisions relating to provident fund schemes or occupational retirement schemes, including, in particular, the importance of making informed decisions when choosing registered schemes or investing contributions or accrued benefits; or (iii) secure an appropriate degree of protection for the public by ensuring that they have sufficient information to help them make informed decisions relating to provident fund schemes or occupational retirement schemes, including, in particular, sufficient information to help them make informed decisions when choosing registered schemes or investing contributions or accrued benefits. (Added 1 of 2008 s. 37) (2) The Authority may disclose information under subsection (1) to the Commissioner of Inland Revenue only if it is satisfied that the information is required in order to assist the Commissioner in determining a matter that the Commissioner is required or empowered to determine under the Inland Revenue Ordinance (Cap 112). (3) Subsection (1) does not authorize the disclosure of information contained in a report referred to in section 7C(4) to a person or body specified in subsection (1)(d) or (e). (4) The Authority may, by notice published in the Gazette, specify a body for the purposes of subsection (1)(e). (5) If- (a) the Authority discloses information to a body specified in subsection (1)(e); and (b) the body or a member of the body, or a person who obtains or receives the information (directly or indirectly) from the body or such a member, discloses the information to another person, the body, member or person commits an offence and is liable on conviction to a fine at level 4. (5A) The information that may be disclosed under subsection (1)(g) includes (but is not limited to) information relating to- (a) the investment portfolios and investment policies of provident fund schemes, constituent funds or approved pooled investment funds; (b) the investment performances of provident fund schemes, constituent funds or approved pooled investment funds; (c) the risks associated with investing in provident fund schemes, constituent funds or approved pooled investment funds; (d) the fees and charges payable under provident fund schemes, constituent funds or approved pooled investment funds; and (e) the types of services available to members of provident fund schemes. (Added 1 of 2008 s. 37) (6) Section 41 does not prevent the Authority from disclosing to a person located in a place outside Hong Kong information obtained by it under this Ordinance if- (a) the person exercises or performs in that place functions that correspond to those of the Authority or a person or body specified in subsection (1)(d); and (b) the Authority is satisfied that- (i) the person is subject to adequate secrecy provisions imposed by the law of that place; or (ii) the disclosure will enable or assist the person to exercise or perform the person's official functions, and that it is not contrary to the interests of any scheme members or the public interest that the information should be disclosed to the person. (7) The information that may be disclosed under subsection (6) includes (but is not limited to) information on matters relating to the affairs of an approved trustee or a service provider- (a) that is incorporated, or that has its principal place of business, in a place outside Hong Kong; or (b) that is incorporated in or outside Hong Kong and that is an associate of an approved trustee that is incorporated, or has its principal place of business, in that place; or (c) that is incorporated in Hong Kong and that has, or is proposing to establish, in that place an associate that is or would be subject to supervision by that person. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 42 Authority may disclose certain information despite section 41 VerDate:01/12/2006 (1) Section 41 does not prevent the Authority from doing any of the following with respect to information obtained by it under this Ordinance- (a) disclose the information as a summary compiled from information provided by persons in accordance with this Ordinance but only if the summary is compiled so as to prevent the identities and businesses of those persons from being ascertained from the summary; (b) disclose the information for the purposes of any criminal proceedings in Hong Kong or an investigation conducted with a view to bringing any such proceedings; (c) disclose the information in connection with any civil proceedings to which the Authority is a party or with a view to bringing any such proceedings; (d) subject to subsection (2), disclose the information to the Chief Executive, the Financial Secretary, the Commissioner of Inland Revenue, the Registrar of Occupational Retirement Schemes, the Insurance Authority, the Monetary Authority, the Securities and Futures Commission, or the Financial Reporting Council established by section 6(1) of the Financial Reporting Council Ordinance (Cap 588), but only if the Authority reasonably believes that the disclosure- (Amended L.N. 106 of 2002; 18 of 2006 s. 83) (i) is in the interests of the scheme members concerned; or (ii) is in the public interest; or (iii) is necessary to enable the exercise or performance of a function imposed or conferred by law; (e) disclose the information to a body specified in accordance with subsection (4), but only if the Authority- (i) is satisfied that the information will be used only in disciplinary proceedings brought or proposed to be brought against a member of the body; and (ii) considers that the disclosure is appropriate. (2) The Authority may disclose information under subsection (1) to the Commissioner of Inland Revenue only if it is satisfied that the information is required in order to assist the Commissioner in determining a matter that the Commissioner is required or empowered to determine under the Inland Revenue Ordinance (Cap 112). (3) Subsection (1) does not authorize the disclosure of information contained in a report referred to in section 7C(4) to a person or body specified in subsection (1)(d) or (e). (4) The Authority may, by notice published in the Gazette, specify a body for the purposes of subsection (1)(e). (5) If- (a) the Authority discloses information to a body specified in subsection (1)(e); and (b) the body or a member of the body, or a person who obtains or receives the information (directly or indirectly) from the body or such a member, discloses the information to another person, the body, member or person commits an offence and is liable on conviction to a fine at level 4. (6) Section 41 does not prevent the Authority from disclosing to a person located in a place outside Hong Kong information obtained by it under this Ordinance if- (a) the person exercises or performs in that place functions that correspond to those of the Authority or a person or body specified in subsection (1)(d); and (b) the Authority is satisfied that- (i) the person is subject to adequate secrecy provisions imposed by the law of that place; or (ii) the disclosure will enable or assist the person to exercise or perform the person's official functions, and that it is not contrary to the interests of any scheme members or the public interest that the information should be disclosed to the person. (7) The information that may be disclosed under subsection (6) includes (but is not limited to) information on matters relating to the affairs of an approved trustee or a service provider- (a) that is incorporated, or that has its principal place of business, in a place outside Hong Kong; or (b) that is incorporated in or outside Hong Kong and that is an associate of an approved trustee that is incorporated, or has its principal place of business, in that place; or (c) that is incorporated in Hong Kong and that has, or is proposing to establish, in that place an associate that is or would be subject to supervision by that person. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 42 Authority may disclose certain information despite section 41 VerDate:01/07/2002 (1) Section 41 does not prevent the Authority from doing any of the following with respect to information obtained by it under this Ordinance- (a) disclose the information as a summary compiled from information provided by persons in accordance with this Ordinance but only if the summary is compiled so as to prevent the identities and businesses of those persons from being ascertained from the summary; (b) disclose the information for the purposes of any criminal proceedings in Hong Kong or an investigation conducted with a view to bringing any such proceedings; (c) disclose the information in connection with any civil proceedings to which the Authority is a party or with a view to bringing any such proceedings; (d) subject to subsection (2), disclose the information to the Chief Executive, the Financial Secretary, the Commissioner of Inland Revenue, the Registrar of Occupational Retirement Schemes, the Insurance Authority, the Monetary Authority or the Securities and Futures Commission, but only if the Authority reasonably believes that the disclosure- (Amended L.N. 106 of 2002) (i) is in the interests of the scheme members concerned; or (ii) is in the public interest; or (iii) is necessary to enable the exercise or performance of a function imposed or conferred by law; (e) disclose the information to a body specified in accordance with subsection (4), but only if the Authority- (i) is satisfied that the information will be used only in disciplinary proceedings brought or proposed to be brought against a member of the body; and (ii) considers that the disclosure is appropriate. (2) The Authority may disclose information under subsection (1) to the Commissioner of Inland Revenue only if it is satisfied that the information is required in order to assist the Commissioner in determining a matter that the Commissioner is required or empowered to determine under the Inland Revenue Ordinance (Cap 112). (3) Subsection (1) does not authorize the disclosure of information contained in a report referred to in section 7C(4) to a person or body specified in subsection (1)(d) or (e). (4) The Authority may, by notice published in the Gazette, specify a body for the purposes of subsection (1)(e). (5) If- (a) the Authority discloses information to a body specified in subsection (1)(e); and (b) the body or a member of the body, or a person who obtains or receives the information (directly or indirectly) from the body or such a member, discloses the information to another person, the body, member or person commits an offence and is liable on conviction to a fine at level 4. (6) Section 41 does not prevent the Authority from disclosing to a person located in a place outside Hong Kong information obtained by it under this Ordinance if- (a) the person exercises or performs in that place functions that correspond to those of the Authority or a person or body specified in subsection (1)(d); and (b) the Authority is satisfied that- (i) the person is subject to adequate secrecy provisions imposed by the law of that place; or (ii) the disclosure will enable or assist the person to exercise or perform the person's official functions, and that it is not contrary to the interests of any scheme members or the public interest that the information should be disclosed to the person. (7) The information that may be disclosed under subsection (6) includes (but is not limited to) information on matters relating to the affairs of an approved trustee or a service provider- (a) that is incorporated, or that has its principal place of business, in a place outside Hong Kong; or (b) that is incorporated in or outside Hong Kong and that is an associate of an approved trustee that is incorporated, or has its principal place of business, in that place; or (c) that is incorporated in Hong Kong and that has, or is proposing to establish, in that place an associate that is or would be subject to supervision by that person. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 42 Authority may disclose certain information despite section 41 VerDate:03/08/1999 (1) Section 41 does not prevent the Authority from doing any of the following with respect to information obtained by it under this Ordinance- (a) disclose the information as a summary compiled from information provided by persons in accordance with this Ordinance but only if the summary is compiled so as to prevent the identities and businesses of those persons from being ascertained from the summary; (b) disclose the information for the purposes of any criminal proceedings in Hong Kong or an investigation conducted with a view to bringing any such proceedings; (c) disclose the information in connection with any civil proceedings to which the Authority is a party or with a view to bringing any such proceedings; (d) subject to subsection (2), disclose the information to the Chief Executive, the Financial Secretary, the Secretary for Financial Services, the Commissioner of Inland Revenue, the Registrar of Occupational Retirement Schemes, the Insurance Authority, the Monetary Authority or the Securities and Futures Commission, but only if the Authority reasonably believes that the disclosure- (i) is in the interests of the scheme members concerned; or (ii) is in the public interest; or (iii) is necessary to enable the exercise or performance of a function imposed or conferred by law; (e) disclose the information to a body specified in accordance with subsection (4), but only if the Authority- (i) is satisfied that the information will be used only in disciplinary proceedings brought or proposed to be brought against a member of the body; and (ii) considers that the disclosure is appropriate. (2) The Authority may disclose information under subsection (1) to the Commissioner of Inland Revenue only if it is satisfied that the information is required in order to assist the Commissioner in determining a matter that the Commissioner is required or empowered to determine under the Inland Revenue Ordinance (Cap 112). (3) Subsection (1) does not authorize the disclosure of information contained in a report referred to in section 7C(4) to a person or body specified in subsection (1)(d) or (e). (4) The Authority may, by notice published in the Gazette, specify a body for the purposes of subsection (1)(e). (5) If- (a) the Authority discloses information to a body specified in subsection (1)(e); and (b) the body or a member of the body, or a person who obtains or receives the information (directly or indirectly) from the body or such a member, discloses the information to another person, the body, member or person commits an offence and is liable on conviction to a fine at level 4. (6) Section 41 does not prevent the Authority from disclosing to a person located in a place outside Hong Kong information obtained by it under this Ordinance if- (a) the person exercises or performs in that place functions that correspond to those of the Authority or a person or body specified in subsection (1)(d); and (b) the Authority is satisfied that- (i) the person is subject to adequate secrecy provisions imposed by the law of that place; or (ii) the disclosure will enable or assist the person to exercise or perform the person's official functions, and that it is not contrary to the interests of any scheme members or the public interest that the information should be disclosed to the person. (7) The information that may be disclosed under subsection (6) includes (but is not limited to) information on matters relating to the affairs of an approved trustee or a service provider- (a) that is incorporated, or that has its principal place of business, in a place outside Hong Kong; or (b) that is incorporated in or outside Hong Kong and that is an associate of an approved trustee that is incorporated, or has its principal place of business, in that place; or (c) that is incorporated in Hong Kong and that has, or is proposing to establish, in that place an associate that is or would be subject to supervision by that person. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 42A Protection for auditors and service providers VerDate:03/08/1999 (1) An auditor or a service provider appointed or engaged by an approved trustee under this Ordinance does not contravene a duty owed by the auditor or service provider in law only because the auditor or service provider has given to the Authority in good faith information, an opinion or a document concerning a matter if- (a) the auditor or service provider became aware of the matter in the auditor's or service provider's capacity as such; and (b) the matter is relevant to a function of the Authority under this Ordinance. (2) Subsection (1) has effect with respect to information, an opinion or a document given to the Authority whether or not it is given in response to a request of the Authority. (3) Subsection (1) applies- (a) to a person whose appointment or engagement as an auditor or service provider has ceased; and (b) to an auditor or service provider who was appointed by a trustee whose approval has been revoked. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 42B Immunity VerDate:15/02/2002 No civil liability shall be incurred by the Authority, a director of the Authority or an employee of the Authority in respect of anything done, or omitted to be done, by the Authority, director or employee, as the case may be, in good faith in the performance or purported performance of any function under this Ordinance. (Added 2 of 2002 s. 15) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43 Offence for unapproved person to carry on business as approved trustee, etc. VerDate:03/08/1999 (1) A person must not act as, or purport to carry on business as, an approved trustee unless the person is approved as a trustee under section 20. (2) A person must not administer, or purport to administer, a provident fund scheme unless- (a) the person is an approved trustee or has been appointed under section 33A(3) as administrator of the scheme; and (b) the scheme is registered under section 21 or 21A. (3) A person who contravenes subsection (1) or (2) commits an offence and is liable- (a) to a fine at level 6 and to imprisonment for 12 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 2 years on each subsequent occasion on which the person is convicted of the offence. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43A Offences by approved trustees VerDate:03/08/1999 (1) An approved trustee of a registered scheme commits an offence if the trustee, without reasonable excuse- (a) pays the accrued benefits of a scheme member otherwise than in the circumstances permitted by or under this Ordinance; or (b) fails to pay accrued benefits of a scheme member in accordance with an entitlement conferred by or under this Ordinance. (2) An approved trustee of a registered scheme who invests the accrued benefits of scheme members in restricted investments in contravention of section 29 commits an offence. (3) An approved trustee who, without reasonable excuse, fails to comply with a requirement of section 14(3) commits an offence. (4) An approved trustee who is convicted of an offence against this section is liable- (a) to a fine at level 6 and to imprisonment for 12 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 2 years on each subsequent occasion on which the person is convicted of the offence. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43B Offences by employers VerDate:01/12/2008 (1) An employer who, without reasonable excuse, fails to comply with a requirement imposed on employers by section 7 commits an offence and is liable on conviction to a fine of $350000 and to imprisonment for 3 years and, in the case of an offence consisting of a failure by the employer to comply with the requirement imposed by section 7(1A), to a daily penalty of $500 for each day on which the offence is continued. (Replaced 18 of 2008 s. 3) (1A) For the purposes of subsection (1), an employer does not have a reasonable excuse for failing to comply with a requirement imposed by section 7 by reason only that the relevant employee’s not becoming or continuing to be a member of a registered scheme was wholly or partly due to the fault of the employee. (Added 18 of 2008 s. 3) (1B) An employer who, without reasonable excuse, fails to comply with section 7A(1), (2) or (7) commits an offence and is liable on conviction- (a) to a fine at level 6 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence. (Added 18 of 2008 s. 3) (1C) An employer who, without reasonable excuse, fails to comply with section 7A(8) commits an offence and is- (a) in the case where he has deducted any amount from the employee’ s relevant income for the contribution period concerned as the employee’s contribution and the total amount of contribution paid in respect of the employee to the approved trustee for that contribution period is less than the amount so deducted, liable on conviction to a fine of $450000 and to imprisonment for 4 years; and (b) in any other case, liable on conviction to a fine of $350000 and to imprisonment for 3 years. (Added 18 of 2008 s. 3) (1D) An employer who, without reasonable excuse, fails to comply with section 7AA(2), (3) or (6) commits an offence and is liable on conviction- (a) to a fine at level 6 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence. (Added 18 of 2008 s. 11) (1E) An employer who, without reasonable excuse, fails to comply with section 7AA(7) commits an offence and is- (a) in the case where he has deducted any amount from the employee’ s relevant income for the contribution period concerned as the employee’s contribution and the total amount of contribution paid in respect of the employee to the Authority for that contribution period is less than the amount so deducted, liable on conviction to a fine of $450000 and to imprisonment for 4 years; and (b) in any other case, liable on conviction to a fine of $350000 and to imprisonment for 3 years. (Added 18 of 2008 s. 11) (2) An employer who, without reasonable excuse, fails to comply with a requirement of section 14(4) commits an offence and is liable on conviction- (Amended 18 of 2008 s. 3) (a) to a fine at level 6 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence. (Amended 18 of 2008 s. 3) (3) (Repealed 18 of 2008 s. 3) (4) Notwithstanding section 26 of the Magistrates Ordinance (Cap 227), proceedings may be instituted for an offence against this section within 6 months after the offence is discovered by, or comes to the notice of, the Authority. (Added 29 of 2002 s. 11. Amended 1 of 2008 s. 42) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43B Offences by employers VerDate:18/01/2008 (1) An employer who, without reasonable excuse, fails to comply with a requirement imposed on employers by section 7 or section 7A commits an offence. (2) An employer who, without reasonable excuse, fails to comply with a requirement of section 14(4) commits an offence. (3) An employer who is convicted of an offence against this section is liable- (a) to a fine at level 6 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence and, in the case of an offence consisting of a failure by the employer to comply with the requirement imposed on the employer by section 7(1A), a daily penalty of $500 for each day on which the offence is continued. (Replaced 29 of 2002 s. 11) (4) Notwithstanding section 26 of the Magistrates Ordinance (Cap 227), proceedings may be instituted for an offence against this section within 6 months after the offence is discovered by, or comes to the notice of, the Authority. (Added 29 of 2002 s. 11. Amended 1 of 2008 s. 42) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43B Offences by employers VerDate:19/07/2002 (1) An employer who, without reasonable excuse, fails to comply with a requirement imposed on employers by section 7 or section 7A commits an offence. (2) An employer who, without reasonable excuse, fails to comply with a requirement of section 14(4) commits an offence. (3) An employer who is convicted of an offence against this section is liable- (a) to a fine at level 6 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence and, in the case of an offence consisting of a failure by the employer to comply with the requirement imposed on the employer by section 7(1A), a daily penalty of $500 for each day on which the offence is continued. (Replaced 29 of 2002 s. 11) (4) Notwithstanding section 26 of the Magistrates Ordinance (Cap 227), proceedings may be instigated for an offence against this section within 6 months after the offence is discovered by, or comes to the notice of, the Authority. (Added 29 of 2002 s. 11) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43B Offences by employers VerDate:01/12/2000 (1) An employer who, without reasonable excuse, fails to comply with a requirement imposed on employers by section 7 or section 7A commits an offence. (2) An employer who, without reasonable excuse, fails to comply with a requirement of section 14(4) commits an offence. (3) An employer who is convicted of an offence against this section is liable- (a) to a fine at level 6 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43BA Court may make certain orders in proceedings for offences under section 43B VerDate:01/12/2008 (1) Where an employer is convicted by a court of an offence against section 43B(1), the court may, in addition to any penalty imposed under that section, make an order requiring the employer to procure for the employee concerned membership in a registered scheme within the time specified in the order. (2) Where an employer is acquitted by a court of an offence against section 43B(1) on the ground that there was a reasonable excuse for the default, the court may make an order requiring the employer to procure for the employee concerned membership in a registered scheme within the time specified in the order. (3) Where an employer is convicted by a court of an offence against section 43B(1C) or (1E), the court may, in addition to any penalty imposed under that section, make an order requiring the employer to pay any mandatory contribution or contribution surcharge that is outstanding at the time of the conviction and in respect of which the offence was committed. (4) Where an employer is acquitted by a court of an offence against section 43B(1C) or (1E) on the ground that there was a reasonable excuse for the default, the court may make an order requiring the employer to pay any mandatory contribution or contribution surcharge that is outstanding at the time of the acquittal and in respect of which the charge was brought. (5) An employer who, without reasonable excuse, fails to comply with an order made under this section commits an offence and is liable on conviction to a fine of $350000 and to imprisonment for 3 years and, in the case of a continuing offence, to a daily penalty of $500 for each day on which the offence is continued. (6) The Authority must pay any contribution or surcharge that is paid to it in respect of a relevant employee pursuant to an order made under subsection (3) or (4)— (a) where the employee is still employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employer for this purpose; or (ii) if the employer has not nominated a registered scheme, to the approved trustee of the registered scheme nominated by the employee for this purpose; or (iii) if neither the employer nor the employee has nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate; or (b) where the employee has ceased to be employed by the employer concerned at the time the Authority makes payment— (i) to the approved trustee of the registered scheme nominated by the employee for this purpose; or (ii) if the employee has not nominated a registered scheme, to the approved trustee of a registered scheme that the Authority considers appropriate. (7) On receiving a payment under subsection (6), the approved trustee must credit the amount of the payment to the relevant employee’s account. (8) An approved trustee who, without reasonable excuse, fails to comply with subsection (7) commits an offence and is liable on conviction to a fine at level 5. (9) Nothing in subsection (3) or (4) affects the rights conferred on the Authority or any other person by this Ordinance or any other law to bring proceedings to recover from the employer any outstanding mandatory contribution or contribution surcharge. (Added 18 of 2008 s. 12) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43C Offences by self-employed persons VerDate:18/01/2008 (1) A self-employed person who is 18 years of age or over and below retirement age commits an offence if, without reasonable excuse, the person- (Amended 2 of 2002 s. 16) (a) fails to become a member of a registered scheme; or (b) fails to continue to be a member of a registered scheme; or (c) being a member of a registered scheme- (i) fails to pay a mandatory contribution on time; or (ii) pays as a mandatory contribution an amount that is less than the required amount. (2) A self-employed person who is convicted of an offence against this section is liable- (a) to a fine at level 5 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine at level 6 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence. (3) Notwithstanding section 26 of the Magistrates Ordinance (Cap 227), proceedings may be instituted for an offence against this section- (a) within 6 months after the offence is discovered by, or comes to the notice of, the Authority; or (b) within 3 years of the commission of the offence, whichever period expires first. (Added 1 of 2008 s. 43) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43C Offences by self-employed persons VerDate:15/02/2002 (1) A self-employed person who is 18 years of age or over and below retirement age commits an offence if, without reasonable excuse, the person- (Amended 2 0f 2002 s. 16) (a) fails to become a member of a registered scheme; or (b) fails to continue to be a member of a registered scheme; or (c) being a member of a registered scheme- (i) fails to pay a mandatory contribution on time; or (ii) pays as a mandatory contribution an amount that is less than the required amount. (2) A self-employed person who is convicted of an offence against this section is liable- (a) to a fine at level 5 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine at level 6 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43C Offences by self-employed persons VerDate:01/12/2000 (1) A self-employed person commits an offence if, without reasonable excuse, the person- (a) fails to become a member of a registered scheme; or (b) fails to continue to be a member of a registered scheme; or (c) being a member of a registered scheme- (i) fails to pay a mandatory contribution on time; or (ii) pays as a mandatory contribution an amount that is less than the required amount. (2) A self-employed person who is convicted of an offence against this section is liable- (a) to a fine at level 5 and to imprisonment for 6 months on the first occasion on which the person is convicted of the offence; and (b) to a fine at level 6 and to imprisonment for 12 months on each subsequent occasion on which the person is convicted of the offence. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43D Offence to obstruct Authority etc. in the exercise or performance of functions VerDate:03/08/1999 (1) Any person who- (a) without lawful authority, obstructs or hinders, or interferes with, a person to whom this section applies in the exercise or performance of a function conferred or imposed on that person by or under this Ordinance; or (b) without reasonable excuse, fails to comply with a lawful requirement made by such a person in the course of exercising or performing such a function, commits an offence and is liable on conviction- (i) to a fine at level 6 and to imprisonment for 12 months on the first occasion on which the person is convicted of the offence; and (ii) to a fine of $200000 and to imprisonment for 2 years on each subsequent occasion on which the person is convicted of the offence. (2) This section applies to the following persons- (a) the Authority; (b) an authorized person; (c) an auditor who is appointed by an approved trustee for the purposes of section 30; (d) an inspector appointed for the purposes of section 32. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43E Offence to make false or misleading statement VerDate:18/01/2008 (1) A person who, in any document given to the Authority, an approved trustee or an auditor of an approved trustee or of a registered scheme in connection with this Ordinance, makes a statement that the person knows to be false or misleading in a material respect, or recklessly makes a statement which is false or misleading in a material respect, commits an offence and is liable on conviction- (Amended 1 of 2008 s. 44) (a) to a fine at level 6 and to imprisonment for 12 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 2 years on each subsequent occasion on which the person is convicted of the offence. (2) Notwithstanding section 26 of the Magistrates Ordinance (Cap 227), proceedings may be instituted for an offence against this section- (a) within 6 months after the offence is discovered by, or comes to the notice of, the Authority; or (b) within 3 years of the commission of the offence, whichever period expires first. (Added 1 of 2008 s. 44) (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43E Offence to make false or misleading statement VerDate:03/08/1999 A person who, in any document given to the Authority, an approved trustee or an auditor of an approved trustee or of a registered scheme in connection with this Ordinance, makes a statement that the person knows to be false or misleading in a material respect, or recklessly makes a statement which is false or misleading in a material respect, commits an offence and is liable on conviction- (a) to a fine at level 6 and to imprisonment for 12 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 2 years on each subsequent occasion on which the person is convicted of the offence. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 43F Offence relating to pay-record VerDate:01/12/2008 (1) A participating employer who, in a pay-record given to an employee, provides any information that the employer knows to be false or misleading in a material respect, or recklessly provides any information that is false or misleading in a material respect, commits an offence and is liable on conviction— (a) to a fine at level 6 and to imprisonment for 12 months on the first occasion on which the person is convicted of the offence; and (b) to a fine of $200000 and to imprisonment for 2 years on each subsequent occasion on which the person is convicted of the offence. (2) Notwithstanding section 26 of the Magistrates Ordinance (Cap 227), proceedings may be instituted for an offence against this section— (a) within 6 months after the offence is discovered by, or comes to the notice of, the Authority; or (b) within 3 years of the commission of the offence, whichever period expires first. (3) In this section, “pay-record” (供款紀錄) means a pay-record prepared under section 139 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A). (Added 18 of 2008 s. 35) “pay-record” (供款紀錄) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 44 Liability of officers, managers and partners VerDate:03/08/1999 (1) Where an offence under this Ordinance is committed by a company and is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, any officer, or other person concerned in the management of the company, or any person who was purporting to act in that capacity, the officer or person as well as the company commits the offence and is liable to be proceeded against and punished accordingly. (2) Where an offence under this Ordinance committed by a partner is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, any other partner of the partnership, that other partner also commits the offence and is liable to be proceeded against and punished accordingly. (Enacted 1995. Amended 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45 Application and interpretation of sections 45B and 45C VerDate:18/07/2008 "prescribed financial penalty" (訂明罰款) "prescribed provision" (訂明條文) (1) Sections 45B and 45C apply to- (a) approved trustees; (b) participating employers; (Amended 30 of 2008 s. 6) (c) self-employed persons who are 18 years of age or over and below retirement age; and (Replaced 2 of 2002 s. 17. Amended 30 of 2008 s. 6) (d) persons required to give information or documents under section 19C. (Added 30 of 2008 s. 6) (2) In sections 45B and 45C- "prescribed financial penalty" (訂明罰款) means the amount of financial penalty prescribed by the regulations in relation to a provision referred to in section 45A(1)(a); "prescribed provision" (訂明條文) means a provision of this Ordinance or of the regulations prescribed by the regulations for the purposes of those sections. (Replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45 Application and interpretation of sections 45B and 45C VerDate:15/02/2002 (1) Sections 45B and 45C apply to- (a) approved trustees; (b) participating employers; and (c) self-employed persons who are 18 years of age or over and below retirement age. (Replaced 2 of 2002 s. 17) (2) In sections 45B and 45C- "prescribed financial penalty" (訂明罰款) means the amount of financial penalty prescribed by the regulations in relation to a provision referred to in section 45A(1)(a); "prescribed provision" (訂明條文) means a provision of this Ordinance or of the regulations prescribed by the regulations for the purposes of those sections. (Replaced 4 of 1998 s. 2) "prescribed financial penalty" (訂明罰款) "prescribed provision" (訂明條文) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45 Application and interpretation of sections 45B and 45C VerDate:03/08/1999 (1) Sections 45B and 45C apply to approved trustees, participating employers and self-employed persons. (2) In sections 45B and 45C- "prescribed financial penalty" (訂明罰款) means the amount of financial penalty prescribed by the regulations in relation to a provision referred to in section 45A(1)(a); "prescribed provision" (訂明條文) means a provision of this Ordinance or of the regulations prescribed by the regulations for the purposes of those sections. (Replaced 4 of 1998 s. 2) "prescribed financial penalty" (訂明罰款) "prescribed provision" (訂明條文) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45A Power to make regulations for purposes of sections 45B and 45C VerDate:01/12/2008 (1) For the purposes of sections 45B and 45C, the regulations may- (a) prescribe a provision of this Ordinance or of the regulations that- (i) specifies a duty that is required to be performed, or a requirement or standard that is required to be complied with; or (ii) requires a fee, contribution or other amount of money to be paid; and (b) prescribe the amount of financial penalty payable for a failure to perform the duty, or to comply with the requirement or standard, or to pay the amount of money on time; and (c) subject to subsection (2), prescribe different amounts of financial penalties in respect of different provisions of this Ordinance and of the regulations and prescribe different amounts of financial penalties according to whether it is the first or second or a subsequent occasion on which the person concerned has failed- (i) to perform a duty, or comply with a requirement or standard, specified in a prescribed provision; or (ii) to pay on time a fee, contribution or other amount under such a provision; and (d) subject to subsection (2), prescribe a daily penalty for each day on which a failure to perform a duty, or to comply with a requirement or standard, specified in a prescribed provision continues. (Added 18 of 2008 s. 30) (2) The maximum amount that the regulations may prescribe as a financial penalty- (a) for failing to perform a duty, or to comply with a requirement or standard, specified in a prescribed provision, is- (Amended 18 of 2008 s. 30) (i) in the case of a daily penalty, $1000 per day; and (ii) in any other case, $50000; and (b) for failing to pay on time a fee, contribution or other amount of money payable under a prescribed provision, is $5000 or 10 per cent of the amount, whichever is the greater. (Added 4 of 1998 s. 2. Amended 18 of 2008 s. 30) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45A Power to make regulations for purposes of sections 45B and 45C VerDate:03/08/1999 (1) For the purposes of sections 45B and 45C, the regulations may- (a) prescribe a provision of this Ordinance or of the regulations that- (i) specifies a duty that is required to be performed, or a requirement or standard that is required to be complied with; or (ii) requires a fee, contribution or other amount of money to be paid; and (b) prescribe the amount of financial penalty payable for a failure to perform the duty, or to comply with the requirement or standard, or to pay the amount of money on time; and (c) subject to subsection (2), prescribe different amounts of financial penalties in respect of different provisions of this Ordinance and of the regulations and prescribe different amounts of financial penalties according to whether it is the first or second or a subsequent occasion on which the person concerned has failed- (i) to perform a duty, or comply with a requirement or standard, specified in a prescribed provision; or (ii) to pay on time a fee, contribution or other amount under such a provision. (2) The maximum amount that the regulations may prescribe as a financial penalty- (a) for failing to perform a duty, or to comply with a requirement or standard, specified in a prescribed provision, is $50000; and (b) for failing to pay on time a fee, contribution or other amount of money payable under a prescribed provision, is $5000 or 10 per cent of the amount, whichever is the greater. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45B Authority may serve notice requiring payment of financial penalty in certain cases VerDate:03/08/1999 (1) The Authority may serve on a person to whom this section applies a notice in the required form if it reasonably believes that the person has failed- (a) to perform a duty or to comply with a requirement or standard specified in a prescribed provision; or (b) to pay on time a fee, contribution or other amount of money payable under such a provision. (2) For the purposes of subsection (1), a notice is in the required form if it- (a) alleges that the person concerned has failed to perform a duty or to comply with a requirement or standard, or to pay on time a fee, contribution or other amount of money, referred to in that subsection; and (b) specifies the prescribed financial penalty that is applicable to the alleged failure; and (c) states that, if within the period specified in the notice (being a period of not less than 14 days), the person- (i) pays to the Authority the prescribed financial penalty specified in the notice; and (ii) performs the duty, or complies with the requirement or standard, or pays the fee, contribution or other amount of money, no further action will be taken against the person in relation to the matter; and (d) further states that, if at the end of that period, the person has not paid the prescribed financial penalty to the Authority or has not performed the duty, or complied with the requirement or standard, or paid that fee, contribution or amount of money, civil proceedings may be brought against the person to recover the amount of the penalty. (3) If a person on whom a notice is served under this section, within the specified period- (a) pays the prescribed financial penalty to the Authority; and (b) performs the duty or complies with the requirement or standard, or pays the fee, contribution or amount of money, specified in the notice, no proceedings are to be brought against the person for the recovery of that penalty. (4) The fact that a person pays a financial penalty to the Authority does not absolve the person from having to perform the duty or to comply with the relevant requirement or standard specified in, or to pay the fee, contribution or amount of money payable under, the relevant prescribed provision. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45C Proceedings for recovery of financial penalty VerDate:03/08/1999 (1) If a person on whom a notice is served under section 45B does not, within the period specified in the notice- (a) pay the prescribed financial penalty to the Authority; or (b) perform the duty or comply with the relevant requirement or standard specified, or pay the fee, contribution or amount of money payable under, the relevant prescribed provision, the Authority may bring proceedings in a court of competent jurisdiction for the recovery of that penalty. (2) On the hearing of proceedings brought under this section, the court may, if satisfied that the defendant has failed to perform the duty or to comply with the requirement or standard, or to pay the fee, contribution or other amount of money, that gave rise to the proceedings, order the defendant to pay- (a) the amount of the prescribed financial penalty; or (b) such smaller amount as it considers appropriate, having regard to the nature and extent of the failure. (3) It is a defence to proceedings brought under this section (other than proceedings relating to the payment of an amount of money) that it was not reasonably practicable to perform the duty, or to comply with the requirement or standard, to which the proceedings relate. (4) Proceedings under this section may be brought at any time- (a) within 6 years after the date on which it is alleged that the relevant duty was not performed, the relevant requirement or standard was not complied with or the relevant fee, contribution or amount of money was not paid; or (b) if the failure to perform that duty, or to comply with that requirement or standard, or to pay that fee, contribution or amount has continued, within 6 years after the date on which the failure ceased. (5) The procedure and rules of evidence, and the burden of proof, applicable to civil proceedings apply to proceedings brought under this section. (6) In proceedings brought under this section, the court may make an order awarding costs to either party and assess the amount of those costs. An award of costs can be made against the Authority only in the circumstances in which an award of costs could be made against a prosecutor in criminal proceedings. (7) Failure to comply with an order made under this section is a contempt of the court. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45D How financial penalty is to be dealt with when paid or recovered VerDate:03/08/1999 A financial penalty paid under section 45B or recovered under section 45C is to be paid into the MPFA Administration Account maintained under section 6M. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45E Person not liable to be proceeded against for offence and financial penalty relating to same matter VerDate:03/08/1999 (1) A person may not be charged with an offence arising out of a contravention of a provision of this Ordinance if proceedings for the recovery of a financial penalty have been brought for the same contravention. (2) Proceedings for the recovery of a financial penalty may not be brought against a person for a contravention of this Ordinance if the person has been charged with an offence arising out of the same contravention. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45F Power of Court to make certain orders VerDate:03/08/1999 (1) Whenever a person has done, is doing or is proposing to do any act or thing that constituted, constitutes or would constitute a contravention of this Ordinance, the Court may, on the application of the Authority or of any person whose interests have been, are being or would be affected by the doing of the act or thing- (a) make an order restraining the person from again doing, continuing to do or doing that act or thing; and (b) if in the opinion of the Court it is desirable to do so, make a further order requiring the person to do any act or thing. (2) Whenever a person has refused or failed, is refusing or failing, or is proposing to refuse or fail, to do any act or thing that the person is required to do by or under this Ordinance, the Court may, on the application of the Authority or of any person whose interests have been, are being or would be affected by the refusal or failure to do the act or thing, make an order requiring the person to do the act or thing. (3) An order under subsection (1) or (2) may be made on such terms as the Court considers appropriate. (4) The Court may grant an interim order pending determination of an application referred to in subsection (1) if in its opinion it is desirable to do so. (5) The Court may from time to time rescind or vary an order made under this section. (6) The power of the Court to make an order restraining a person from again doing, continuing to do or doing an act or thing may be exercised- (a) whether or not it appears to the Court that the person intends to do the act or thing again or to continue to do the act or thing; and (b) whether or not the person has previously done the act or thing; and (c) whether or not there is imminent danger of substantial damage to any other person if the person does the act or thing. (7) The power of the Court to make an order requiring a person to do an act or thing may be exercised- (a) whether or not it appears to the Court that the person intends to refuse or fail again, or to continue to refuse or fail, to do the act or thing; and (b) whether or not the person has previously refused or failed to do the act or thing; and (c) whether or not there is an imminent danger of substantial damage to any other person if the person refuses or fails to do the act or thing. (8) If an application for an order under this section is made by the Authority, the Court may not require the Authority or any other person, as a condition of making an interim order, to give any undertaking as to damages. (9) The Court may, in addition to or instead of making an order under this section in respect of a person, order the person to pay damages to another person. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 45G Right to bring civil proceedings to recover financial loss VerDate:03/08/1999 (1) A person who has sustained financial loss that is attributable- (a) to a contravention of the governing rules of a registered scheme by another person; or (b) to the failure of another person to perform a duty, or to comply with a requirement or standard, imposed on that other person by or under this Ordinance, is entitled, by proceedings brought in a court of competent jurisdiction, to recover from that other person the amount of that loss as damages. (2) The right conferred by this section is in addition to any other right conferred by law to recover the loss or damages in respect of the loss. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 46 Regulations VerDate:01/12/2008 (1) The Chief Executive in Council may make regulations, not inconsistent with this Ordinance, for or with respect to any matter- (a) that by this Ordinance is required or permitted to be prescribed by regulations; or (b) that is necessary or convenient to be prescribed for achieving the objects of this Ordinance. (Replaced 4 of 1998 s. 2) (1A) Regulations may also be made under subsection (1) for all or any of the following purposes- (a) providing for the giving of undertakings to the Authority by approved trustees and applicants for approval as trustees; (b) requiring approved trustees and persons applying for approval as such to enter into arrangements for the provision of adequate insurance against the risk of losses that are attributable to misfeasance or other illegal conduct by them or by others with respect to registered schemes; (c) prescribing the retirement age for the purposes of this Ordinance; (d) requiring approved trustees of registered schemes to provide information to scheme members and prescribing the kind of information that is to be provided to them; (e) providing for the payment of accrued benefits to or in respect of scheme members and providing for the transfer of accrued benefits from one registered scheme to another or from one account in a registered scheme to another; (f) providing for the preservation of the accrued benefits of scheme members until the occurrence of a specified event (including, but not limited to, the retirement, death, total incapacity or permanent departure from Hong Kong of scheme members); (g) providing for the disposal of unclaimed accrued benefits; (h) providing for the operation of the compensation fund referred to in section 17; (i) providing for the formulation of proper accounting systems (including the keeping of proper accounting records) with respect to registered schemes; (j) prescribing requirements with which approved trustees must comply with with respect to keeping scheme member's accounts; (k) permitting approved trustees, despite section 12, to deduct from scheme members' accounts fees for administrative expenses; (l) providing for the auditing of the accounting records and financial statements of approved trustees and of registered schemes; (m) prescribing the duties of auditors so appointed (including the duty of an auditor to report specified matters to the Authority in specified circumstances); (n) providing for the engagement or appointment by the approved trustee of a registered scheme of service providers to provide services for the purposes of the scheme and for the delegation of the trustee's functions in relation to the scheme to such a service provider; (o) prescribing the duties of service providers and other persons engaged or appointed by the approved trustee of a registered scheme to provide services for the purposes of the scheme (including the duty of such a service provider or other person to report specified matters to the Authority in specified circumstances); (p) prescribing requirements that are to be complied with with respect to the funds of registered schemes, including- (i) requirements relating to the separation of the funds and other assets of a registered scheme from other funds and assets that are beneficially owned by employers who are participating in the scheme; and (ii) requirements that the funds and other assets of a registered scheme are to be applied only for the purposes of the scheme; and (iii) requirements that the funds and other assets of a registered scheme are not to be subject to any charge, pledge, lien, mortgage or other encumbrance, except in circumstances specified in the rules or by the Authority; (q) requiring approved trustees of registered schemes to enter into arrangements for the scheme assets to be held by custodians and prescribing requirements to be complied with with respect to those arrangements and the qualifications of custodians; (r) requiring the approved trustees of registered schemes to maintain adequate reserves so as to provide investment guarantees; (s) requiring approved trustees of registered schemes to maintain specified internal control procedures with respect to those schemes; (sa) providing for, in relation to approved trustees that are companies- (i) the composition of the board of directors of those trustees and the composition of committees of those boards; (ii) any change or proposed change of controllers of those trustees; and (iii) the objection by the Authority to the existing controllers of those trustees continuing to be such controllers; (Added 18 of 2008 s. 31) (t) requiring persons to lodge with the Authority returns containing specified kinds of information, or to provide the Authority with specified kinds of information, relevant to the exercise of the Authority's functions; (u) providing for the service or notification of documents for the purposes of this Ordinance; (v) providing for the voluntary winding up of employer sponsored schemes; (w) providing for the merger of existing registered schemes and for the division of an existing registered scheme into one or more other schemes; (wa) requiring the guarantor of an approved pooled investment fund, within the meaning of section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A), to maintain adequate reserves so as to provide investment guarantees; (Added 2 of 2002 s. 18) (x) prohibiting funds of a registered scheme from being invested in pooled investment funds except as permitted by the regulations or as approved by the Authority. (Added 4 of 1998 s. 2) (1B) A regulation under this section may do all or any of the following- (a) apply generally or be limited in its application by reference to specified exceptions or factors; (b) apply differently according to different factors of a specified kind; (c) authorize any matter or thing to be determined, applied or regulated by any specified person; (d) prescribe fees for the purposes of those regulations, including fees for the granting of approvals for the purposes of this Ordinance; (e) authorize the Authority to charge (on a cost recovery basis) for any service provided by the Authority. (Added 4 of 1998 s. 2) (1C) A regulation under this section may apply, adopt or incorporate by reference, with or without modifications, any publication (including an Ordinance or subsidiary legislation), either in force at the time of publication or as in force from time to time. (Added 4 of 1998 s. 2) (2) Any regulations made under this section may prescribe offences in respect of contraventions of the regulations, and may provide for the imposition of a fine not exceeding level 6 and of imprisonment for a period not exceeding 1 year. (3) Regulations made under this section shall be subject to the approval of the Legislative Council. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 46 Regulations VerDate:15/02/2002 (1) The Chief Executive in Council may make regulations, not inconsistent with this Ordinance, for or with respect to any matter- (a) that by this Ordinance is required or permitted to be prescribed by regulations; or (b) that is necessary or convenient to be prescribed for achieving the objects of this Ordinance. (Replaced 4 of 1998 s. 2) (1A) Regulations may also be made under subsection (1) for all or any of the following purposes- (a) providing for the giving of undertakings to the Authority by approved trustees and applicants for approval as trustees; (b) requiring approved trustees and persons applying for approval as such to enter into arrangements for the provision of adequate insurance against the risk of losses that are attributable to misfeasance or other illegal conduct by them or by others with respect to registered schemes; (c) prescribing the retirement age for the purposes of this Ordinance; (d) requiring approved trustees of registered schemes to provide information to scheme members and prescribing the kind of information that is to be provided to them; (e) providing for the payment of accrued benefits to or in respect of scheme members and providing for the transfer of accrued benefits from one registered scheme to another or from one account in a registered scheme to another; (f) providing for the preservation of the accrued benefits of scheme members until the occurrence of a specified event (including, but not limited to, the retirement, death, total incapacity or permanent departure from Hong Kong of scheme members); (g) providing for the disposal of unclaimed accrued benefits; (h) providing for the operation of the compensation fund referred to in section 17; (i) providing for the formulation of proper accounting systems (including the keeping of proper accounting records) with respect to registered schemes; (j) prescribing requirements with which approved trustees must comply with with respect to keeping scheme member's accounts; (k) permitting approved trustees, despite section 12, to deduct from scheme members' accounts fees for administrative expenses; (l) providing for the auditing of the accounting records and financial statements of approved trustees and of registered schemes; (m) prescribing the duties of auditors so appointed (including the duty of an auditor to report specified matters to the Authority in specified circumstances); (n) providing for the engagement or appointment by the approved trustee of a registered scheme of service providers to provide services for the purposes of the scheme and for the delegation of the trustee's functions in relation to the scheme to such a service provider; (o) prescribing the duties of service providers and other persons engaged or appointed by the approved trustee of a registered scheme to provide services for the purposes of the scheme (including the duty of such a service provider or other person to report specified matters to the Authority in specified circumstances); (p) prescribing requirements that are to be complied with with respect to the funds of registered schemes, including- (i) requirements relating to the separation of the funds and other assets of a registered scheme from other funds and assets that are beneficially owned by employers who are participating in the scheme; and (ii) requirements that the funds and other assets of a registered scheme are to be applied only for the purposes of the scheme; and (iii) requirements that the funds and other assets of a registered scheme are not to be subject to any charge, pledge, lien, mortgage or other encumbrance, except in circumstances specified in the rules or by the Authority; (q) requiring approved trustees of registered schemes to enter into arrangements for the scheme assets to be held by custodians and prescribing requirements to be complied with with respect to those arrangements and the qualifications of custodians; (r) requiring the approved trustees of registered schemes to maintain adequate reserves so as to provide investment guarantees; (s) requiring approved trustees of registered schemes to maintain specified internal control procedures with respect to those schemes; (t) requiring persons to lodge with the Authority returns containing specified kinds of information, or to provide the Authority with specified kinds of information, relevant to the exercise of the Authority's functions; (u) providing for the service or notification of documents for the purposes of this Ordinance; (v) providing for the voluntary winding up of employer sponsored schemes; (w) providing for the merger of existing registered schemes and for the division of an existing registered scheme into one or more other schemes; (wa) requiring the guarantor of an approved pooled investment fund, within the meaning of section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg.), to maintain adequate reserves so as to provide investment guarantees; (Added 2 of 2002 s. 18) (x) prohibiting funds of a registered scheme from being invested in pooled investment funds except as permitted by the regulations or as approved by the Authority. (Added 4 of 1998 s. 2) (1B) A regulation under this section may do all or any of the following- (a) apply generally or be limited in its application by reference to specified exceptions or factors; (b) apply differently according to different factors of a specified kind; (c) authorize any matter or thing to be determined, applied or regulated by any specified person; (d) prescribe fees for the purposes of those regulations, including fees for the granting of approvals for the purposes of this Ordinance; (e) authorize the Authority to charge (on a cost recovery basis) for any service provided by the Authority. (Added 4 of 1998 s. 2) (1C) A regulation under this section may apply, adopt or incorporate by reference, with or without modifications, any publication (including an Ordinance or subsidiary legislation), either in force at the time of publication or as in force from time to time. (Added 4 of 1998 s. 2) (2) Any regulations made under this section may prescribe offences in respect of contraventions of the regulations, and may provide for the imposition of a fine not exceeding level 6 and of imprisonment for a period not exceeding 1 year. (3) Regulations made under this section shall be subject to the approval of the Legislative Council. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 46 Regulations VerDate:12/03/1999 (1) The Chief Executive in Council may make regulations, not inconsistent with this Ordinance, for or with respect to any matter- (a) that by this Ordinance is required or permitted to be prescribed by regulations; or (b) that is necessary or convenient to be prescribed for achieving the objects of this Ordinance. (Replaced 4 of 1998 s. 2) (1A) Regulations may also be made under subsection (1) for all or any of the following purposes- (a) providing for the giving of undertakings to the Authority by approved trustees and applicants for approval as trustees; (b) requiring approved trustees and persons applying for approval as such to enter into arrangements for the provision of adequate insurance against the risk of losses that are attributable to misfeasance or other illegal conduct by them or by others with respect to registered schemes; (c) prescribing the retirement age for the purposes of this Ordinance; (d) requiring approved trustees of registered schemes to provide information to scheme members and prescribing the kind of information that is to be provided to them; (e) providing for the payment of accrued benefits to or in respect of scheme members and providing for the transfer of accrued benefits from one registered scheme to another or from one account in a registered scheme to another; (f) providing for the preservation of the accrued benefits of scheme members until the occurrence of a specified event (including, but not limited to, the retirement, death, total incapacity or permanent departure from Hong Kong of scheme members); (g) providing for the disposal of unclaimed accrued benefits; (h) providing for the operation of the compensation fund referred to in section 17; (i) providing for the formulation of proper accounting systems (including the keeping of proper accounting records) with respect to registered schemes; (j) prescribing requirements with which approved trustees must comply with with respect to keeping scheme member's accounts; (k) permitting approved trustees, despite section 12, to deduct from scheme members' accounts fees for administrative expenses; (l) providing for the auditing of the accounting records and financial statements of approved trustees and of registered schemes; (m) prescribing the duties of auditors so appointed (including the duty of an auditor to report specified matters to the Authority in specified circumstances); (n) providing for the engagement or appointment by the approved trustee of a registered scheme of service providers to provide services for the purposes of the scheme and for the delegation of the trustee's functions in relation to the scheme to such a service provider; (o) prescribing the duties of service providers and other persons engaged or appointed by the approved trustee of a registered scheme to provide services for the purposes of the scheme (including the duty of such a service provider or other person to report specified matters to the Authority in specified circumstances); (p) prescribing requirements that are to be complied with with respect to the funds of registered schemes, including- (i) requirements relating to the separation of the funds and other assets of a registered scheme from other funds and assets that are beneficially owned by employers who are participating in the scheme; and (ii) requirements that the funds and other assets of a registered scheme are to be applied only for the purposes of the scheme; and (iii) requirements that the funds and other assets of a registered scheme are not to be subject to any charge, pledge, lien, mortgage or other encumbrance, except in circumstances specified in the rules or by the Authority; (q) requiring approved trustees of registered schemes to enter into arrangements for the scheme assets to be held by custodians and prescribing requirements to be complied with with respect to those arrangements and the qualifications of custodians; (r) requiring the approved trustees of registered schemes to maintain adequate reserves so as to provide investment guarantees; (s) requiring approved trustees of registered schemes to maintain specified internal control procedures with respect to those schemes; (t) requiring persons to lodge with the Authority returns containing specified kinds of information, or to provide the Authority with specified kinds of information, relevant to the exercise of the Authority's functions; (u) providing for the service or notification of documents for the purposes of this Ordinance; (v) providing for the voluntary winding up of employer sponsored schemes; (w) providing for the merger of existing registered schemes and for the division of an existing registered scheme into one or more other schemes; (x) prohibiting funds of a registered scheme from being invested in pooled investment funds except as permitted by the regulations or as approved by the Authority. (Added 4 of 1998 s. 2) (1B) A regulation under this section may do all or any of the following- (a) apply generally or be limited in its application by reference to specified exceptions or factors; (b) apply differently according to different factors of a specified kind; (c) authorize any matter or thing to be determined, applied or regulated by any specified person; (d) prescribe fees for the purposes of those regulations, including fees for the granting of approvals for the purposes of this Ordinance; (e) authorize the Authority to charge (on a cost recovery basis) for any service provided by the Authority. (Added 4 of 1998 s. 2) (1C) A regulation under this section may apply, adopt or incorporate by reference, with or without modifications, any publication (including an Ordinance or subsidiary legislation), either in force at the time of publication or as in force from time to time. (Added 4 of 1998 s. 2) (2) Any regulations made under this section may prescribe offences in respect of contraventions of the regulations, and may provide for the imposition of a fine not exceeding level 6 and of imprisonment for a period not exceeding 1 year. (Amended 4 of 1998 s. 2) (3) Regulations made under this section shall be subject to the approval of the Legislative Council. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 47 Rules VerDate:12/03/1999 (1) The Authority may make rules, not inconsistent with this Ordinance or the regulations, for or with respect to any matter that by this Ordinance is required or permitted to be prescribed by the rules. (Replaced 4 of 1998 s. 2) (1A) Rules may also be made under subsection (1) for all or any of the following purposes- (a) providing for matters relating to the administration of registered schemes; (b) prescribing methods by which mandatory contributions must or may be paid to approved trustees of registered schemes; (c) prescribing the measures to be taken by participating employers, relevant employees and self-employed persons in order to ensure that sections 7, 7A and 7C are complied with. (Added 4 of 1998 s. 2) (2) Rules under this section may do all or any of the following- (a) apply generally or be limited in their application by reference to specified exceptions or factors; (b) apply differently according to different factors of a specified kind; (c) authorize any matter or thing to be determined, applied or regulated by any specified person; (d) prescribe fees for the purposes of those rules. (Replaced 4 of 1998 s. 2) (3) Any rules made under this section may prescribe offences in respect of contraventions of the rules, and may provide for the imposition of a fine not exceeding level 4 and of imprisonment for a period not exceeding 6 months. (4) Rules made under this section shall be subject to the approval of the Legislative Council. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 47A Authority may specify or approve forms VerDate:12/03/1999 (1) The Authority may specify or approve the form and contents of documents required for the purposes of this Ordinance. (2) If the Authority has specified or approved a form for the purposes of this Ordinance, strict compliance with the form is not necessary and substantial compliance is sufficient. (3) If a form specified or approved by the Authority for the purposes of this Ordinance requires the form to be completed in a specified way, or requires specified information to be included in or be attached to, or to accompany, the form, the form is not properly completed unless it is completed in that way, or includes or has attached to it, or is accompanied by, that information. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 47B Rules against perpetuities not to apply to registered schemes VerDate:03/08/1999 The rules of law relating to perpetuities do not apply to the trusts relating to registered schemes or to the approved trustees of those schemes. (Added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 47C Service of summons VerDate:18/01/2008 Notwithstanding section 8 of the Magistrates Ordinance (Cap 227) and without limiting the generality of section 338 or 356 of the Companies Ordinance (Cap 32), a summons relating to an offence against this Ordinance that is alleged to have been committed by any employer may be served on the employer by leaving it at, or sending it by post to, any place at which the employer carries on business. (Added 1 of 2008 s. 47) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 48 Amendment of Schedules VerDate:12/03/1999 (1) The Chief Executive in Council may, by notice published in the Gazette, amend the Schedules. (Amended 4 of 1998 s. 2) (2) Amendments made under this section to Schedules 1 to 8 shall be subject to the approval of the Legislative Council. (Enacted 1995) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 49 (Omitted as spent) VerDate:01/12/2000 MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 49 Consequential amendments VerDate: The enactments specified in Schedule 9 are amended as set out in that Schedule. MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 1 EXEMPT PERSONS VerDate:15/02/2002 [sections 4 & 48] PART I Item Description 1. Any person who is an officer to which the Pensions Ordinance (Cap 89) applies. 2. Any person who is an officer to which the Pension Benefits Ordinance (Cap 99) applies. 3. Any person who is an officer to which the Pension Benefits (Judicial Officers) Ordinance (Cap 401) applies. 4. Any person who is a teacher to which the Grant Schools Provident Fund Rules (Cap 279 sub. leg.) apply. 5. Any person who is a teacher to which the Subsidized Schools Provident Fund Rules (Cap 279 sub. leg.) apply. 6. Any relevant employee or self-employed person who, at the date of the coming into operation of this Schedule, has attained 64 years of age. 7. (1) Any relevant employee (other than a casual employee) whose employment ceases before the 60th day after the relevant time except a relevant employee who has been employed- (Amended L.N. 224 of 2000) (a) for not less than 60 days after the relevant time; and (b) under a continuous contract. (2) In this item- "continuous contract" (連續性合約) has the same meaning as in section 3(1) of the Employment Ordinance (Cap 57); "relevant time" (有關時間), in relation to a relevant employee, means- (a) if the employee is being employed on the commencement of section 7 of this Ordinance, the time of that commencement; (b) if the employee is employed after that commencement, the beginning of the date on which the employment begins. (Amended 2 of 2002 s. 19) (Replaced L.N. 225 of 2000) 8. Any employer of a person specified in items 1 to 7 and 9. (Replaced 4 of 1998 s. 2) 9. Any person employed in the European Union Office of the European Commission in Hong Kong. (1) In respect of items 1 to 5 and 9, the person described in those items is an exempt person only to the extent that the relevant statutory provisions apply to his relevant income derived from employment the subject of those provisions, and not to other income (if any) derived from other sources which may be otherwise subject to the provisions of this Ordinance or to any obligation under this Ordinance in his capacity as an employer, if applicable. (2) In respect of item 7, the relevant employee first-mentioned in that item is an exempt person only to the extent that he is under the employment first-mentioned in that item. (Replaced L.N. 225 of 2000) (3) In respect of item 8, the employer described in that item is an exempt person only to the extent of the relevant income of persons or relevant employees described in items 1 to 7 and 9 and not to other income (if any) derived from other sources which may be otherwise subject to the provisions of this Ordinance. (Amended 4 of 1998 s. 2) PART II Item Description 1. Any person who is a domestic employee in respect of a contract of employment as such. 2. Any self-employed person who is a hawker. 3. Any employer of a person specified in item 1. 4. The employer of an employee who is, because of the operation of section 4(3) of this Ordinance, exempt from the operation of this Ordinance. (Added 4 of 1998 s. 2) (1) In this Part- (Amended 4 of 1998 s. 2) "domestic employee" (家務僱員) means an employee whose contract of employment is wholly or substantially for the provision of domestic services in the residential premises of the employer; "hawker" (小販) has the same meaning as in the Public Health and Municipal Services Ordinance (Cap 132). (2) The persons referred to in items 1 and 2 are exempt from the operation of this Ordinance only in so far as their relevant income is derived from employment of the kind referred to in those items. (Added 4 of 1998 s. 2) (3) An employer referred to in item 3 is exempt from the operation of this Ordinance only in respect of the relevant income of a domestic employee employed by the employer. (Added 4 of 1998 s. 2) (4) An employer referred to in item 4 is exempt from the operation of this Ordinance only in respect of the relevant income of the exempted employee of the employer. (Added 4 of 1998 s. 2) (Enacted 1995) "continuous contract" (連續性合約) "relevant time" (有關時間) "domestic employee" (家務僱員) "hawker" (小販) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 1 EXEMPT PERSONS VerDate:01/12/2000 [sections 4 & 48] PART I Item Description 1. Any person who is an officer to which the Pensions Ordinance (Cap 89) applies. 2. Any person who is an officer to which the Pension Benefits Ordinance (Cap 99) applies. 3. Any person who is an officer to which the Pension Benefits (Judicial Officers) Ordinance (Cap 401) applies. 4. Any person who is a teacher to which the Grant Schools Provident Fund Rules (Cap 279 sub. leg.) apply. 5. Any person who is a teacher to which the Subsidized Schools Provident Fund Rules (Cap 279 sub. leg.) apply. 6. Any relevant employee or self-employed person who, at the date of the coming into operation of this Schedule, has attained 64 years of age. 7. (1) Any relevant employee (other than a casual employee) whose employment ceases before the 60th day after the relevant time except a relevant employee who has been employed- (Amended L.N. 224 of 2000) (a) for not less than 60 days after the relevant time; and (b) under a continuous contract. (2) In this item- "continuous contract" (連續性合約) has the same meaning as in section 3(1) of the Employment Ordinance (Cap 57); "relevant time" (有關時間), in relation to a relevant employee, means- (a) if the employee is being employed on the commencement of section 7 of this Ordinance, the time of that commencement; (b) if the employee is employed after that commencement, the date on which the employment begins. (Replaced L.N. 225 of 2000) 8. Any employer of a person specified in items 1 to 7 and 9. (Replaced 4 of 1998 s. 2) 9. Any person employed in the European Union Office of the European Commission in Hong Kong. (1) In respect of items 1 to 5 and 9, the person described in those items is an exempt person only to the extent that the relevant statutory provisions apply to his relevant income derived from employment the subject of those provisions, and not to other income (if any) derived from other sources which may be otherwise subject to the provisions of this Ordinance or to any obligation under this Ordinance in his capacity as an employer, if applicable. (2) In respect of item 7, the relevant employee first-mentioned in that item is an exempt person only to the extent that he is under the employment first-mentioned in that item. (Replaced L.N. 225 of 2000) (3) In respect of item 8, the employer described in that item is an exempt person only to the extent of the relevant income of persons or relevant employees described in items 1 to 7 and 9 and not to other income (if any) derived from other sources which may be otherwise subject to the provisions of this Ordinance. (Amended 4 of 1998 s. 2) PART II Item Description 1. Any person who is a domestic employee in respect of a contract of employment as such. 2. Any self-employed person who is a hawker. 3. Any employer of a person specified in item 1. 4. The employer of an employee who is, because of the operation of section 4(3) of this Ordinance, exempt from the operation of this Ordinance. (Added 4 of 1998 s. 2) (1) In this Part- (Amended 4 of 1998 s. 2) "domestic employee" (家務僱員) means an employee whose contract of employment is wholly or substantially for the provision of domestic services in the residential premises of the employer; "hawker" (小販) has the same meaning as in the Public Health and Municipal Services Ordinance (Cap 132). (2) The persons referred to in items 1 and 2 are exempt from the operation of this Ordinance only in so far as their relevant income is derived from employment of the kind referred to in those items. (Added 4 of 1998 s. 2) (3) An employer referred to in item 3 is exempt from the operation of this Ordinance only in respect of the relevant income of a domestic employee employed by the employer. (Added 4 of 1998 s. 2) (4) An employer referred to in item 4 is exempt from the operation of this Ordinance only in respect of the relevant income of the exempted employee of the employer. (Added 4 of 1998 s. 2) (Enacted 1995) "continuous contract" (連續性合約) "relevant time" (有關時間) "domestic employee" (家務僱員) "hawker" (小販) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 1A PROVISIONS RELATING TO AUTHORITY VerDate:24/07/1998 [section 6A] PART 1 DEFINITIONS 1. Definitions In this Schedule- "chairperson" (主席) means the chairperson of the Authority; "deputy chairperson" (副主席) means the deputy chairperson of the Authority; "director" (董事) means a director of the Authority. PART 2 DIRECTORS OF AUTHORITY 2. Periods for which directors may be appointed Subject to this Schedule, a director holds office for such period (not exceeding 4 years) as is specified in the director's document of appointment, but is eligible (if otherwise qualified) for re-appointment. 3. Terms and conditions of office of directors A director is entitled to such terms and conditions of office (including remuneration and travelling and subsistence allowances) as the Chief Executive may, from time to time, determine in respect of the director. 4. Vacancy in office of director (1) The office of a director becomes vacant if the director- (a) dies; or (b) completes a term of office and is not re-appointed; or (c) becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors or makes an assignment of his or her remuneration for their benefit; or (d) is, under the Mental Health Ordinance (Cap 136), found by the Court to be of unsound mind and incapable of managing himself or herself and his or her affairs; or (e) is convicted in Hong Kong of an offence which is punishable by imprisonment for 12 months or more or is convicted elsewhere than in Hong Kong of an offence which, if committed in Hong Kong, would be an offence so punishable; or (f) resigns the office by written notice given to the Chief Executive; or (g) is removed from office by the Chief Executive under this section. (2) The Chief Executive may remove a director from office at any time. 5. Filling of vacancy in office of director If the office of a director becomes vacant, the Chief Executive must arrange for a suitable person to be appointed to fill the vacancy in accordance with this Ordinance as soon as practicable after the date on which the vacancy occurred. 6. Acting executive directors etc. (1) The Chief Executive may, from time to time, appoint a person to act in the office of the Managing Director- (a) during the illness or absence of the Managing Director; or (b) during a vacancy in the office of Managing Director, and the person, while so acting, has all the functions of, and is taken to be, the Managing Director. (2) The Chief Executive may, at any time, remove from office a person appointed under subsection (1). (3) The Financial Secretary may, from time to time, appoint a person to act in the office of an executive director (other than the Managing Director)- (a) during the illness or absence of the director; or (b) during a vacancy in the office of such a director, and the person, while so acting, has all the functions of, and is taken to be, an executive director. (4) The Financial Secretary may, at any time, remove from office a person appointed under subsection (3). (5) The deputy chairperson has the functions of the chairperson under sections 8 and 12 of this Schedule, and is taken to be the chairperson for the purposes of those section- (a) during the illness or absence of the chairperson; or (b) during a vacancy in the office of chairperson. 7. Disclosure of pecuniary interests (1) If- (a) a director has a pecuniary interest in a matter that is considered or is to be considered at a meeting of the Authority; and (b) the interest appears to raise a conflict with the proper performance of the director's duties in relation to the consideration of the matter, the director must, as soon as practicable after becoming aware of the relevant facts, disclose the nature of the interest at a meeting of the Authority. (2) A disclosure by a director at a meeting of the Authority that the director- (a) is an officer or member, or is in the employment, of a specified company or other body; or (b) is a partner, or is in the employment, of a specified person; or (c) has some other specified interest relating to a specified company or other body or to a specified person, is a sufficient disclosure of the nature of the interest in any matter relating to that company or other body or to that person which may arise after the date of the disclosure and which is required to be disclosed under subsection (1). (3) Particulars of any disclosure made under this section must be recorded by the Authority in a book kept for the purpose and that book must be open at all reasonable hours to inspection by any person. (4) After a director has disclosed the nature of any interest in any matter, the director must not, unless the Authority otherwise determines- (a) be present during any deliberation of the Authority with respect to the matter; or (b) take part in any decision of the Authority with respect to the matter. (5) For the purposes of the making of a determination by the Authority under subsection (4), a director who has a pecuniary interest in a matter to which the disclosure relates must not- (a) be present during any deliberation of the Authority for the purpose of making the determination; or (b) take part in the making by the Authority of the determination. (6) A contravention of this section does not invalidate a decision of the Authority. (7) This section does not apply to or in respect of an interest of a director in a matter or thing which arises merely because the director is a member of a registered scheme. PART 3 PROCEDURE AT MEETINGS OF AUTHORITY 8. General procedure for meetings of Authority (1) Meetings are to be held as often as necessary to enable the Authority to exercise and perform its functions. (2) A meeting of the Authority may be convened by the chairperson. (3) The chairperson must convene a meeting of the Authority on being given a notice for that purpose by 2 or more other directors. (4) The procedure for the convening meetings of the Authority and for the conduct of business at those meetings is, subject to this Schedule, to be as determined by the Authority. 9. Quorum for meetings of Authority The quorum for a meeting of the Authority is a majority of its directors, but at least 3 of the directors present must be non-executive directors. 10. Presiding director at meetings of Authority (1) A meeting of the Authority is to be presided over by- (a) the chairperson; or (b) in the absence of the chairperson, the deputy chairperson; or (c) in the absence of the chairperson and deputy chairperson, a director elected by the directors present at the meeting. (2) The director presiding at a meeting of the Authority has a deliberative vote and also has a casting vote if the numbers of votes for and against a motion are equal. However, that director must consult with the Financial Secretary before exercising a casting vote. 11. Voting at meetings of Authority A decision supported by a majority of the votes cast at a meeting of the Authority at which a quorum is present is the decision of the Authority. 12. Transaction of business otherwise than at ordinary meetings (1) The business of the Authority may be transacted by the circulation of papers among all of the then existing directors. (2) Any of the directors may initiate a motion concerning Authority business by circulating a paper. (3) A motion under this section is to be approved by a simple majority of the directors unless within 3 working days of the date of the paper the chairperson orders, or any 2 other directors require under section 8(3) of this Schedule, that a meeting of the Authority to be convened to consider the motion. (4) Papers may be circulated among directors for the purposes of this section by facsimile message or other means of transmitting the information in the papers concerned. (Schedule 1A added 4 of 1998 s. 2) "chairperson" (主席) "deputy chairperson" (副主席) "director" (董事) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 1B DELEGATION OF FUNCTIONS OF AUTHORITY VerDate:24/07/1998 [sections 6F & 48] 1. A delegation under section 6F- (a) may be general or limited; and (b) must be in, or be evidenced by, writing signed by the Managing Director or by a person authorized by the Managing Director for that purpose; and (c) may be revoked, wholly or partly, by the delegator. 2. A delegated function may be exercised only in accordance with any conditions to which the delegation is subject. 3. A delegate may, in the exercise of a function delegated under this section, exercise any other function that is incidental to the delegated function. 4. A delegated function that purports to have been exercised by a delegate is, until the contrary is proved, taken to have been duly exercised by the delegate. 5. A delegated function that is duly exercised by a delegate is taken to have been exercised by the delegator. 6. If- (a) the exercise of a function by a person or body is, by virtue of a document (including an Ordinance), dependent on the opinion, belief or state of mind of the person or body in relation to any matter; and (b) the person or body has delegated the function to some other person or body, the function may be exercised by the delegate on the opinion, belief or state of mind of the delegate in relation to any such matter. 7. If a function is delegated to a particular officer or the holder of a particular office- (a) the delegation does not cease to have effect merely because the person who was the particular officer or the holder of the particular office when the function was delegated ceases to be that officer or the holder of that office; and (b) the function may be exercised (or, in the case of a duty, must be performed) by the person for the time being occupying or acting in the office concerned. 8. A function that has been delegated may, despite the delegation, be exercised by the delegator. 9. Section 6F and this Schedule applies to a sub-delegation of a function in the same way as it applies to a delegation of a function, but only in so far as this Ordinance or the document that authorizes the delegation of the function also authorizes the sub-delegation of the function. (Schedule 1B added 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 2 MINIMUM LEVEL OF RELEVANT INCOME PER CONTRIBUTION PERIOD VerDate:01/12/2008 For the transitional provision relating to the amendments made by the Mandatory Provident Fund Schemes (Amendment) (No. 2) Ordinance 2002 (29 of 2002), see section 15 of that Ordinance. [sections 2, 10A & 48] (Amended 18 of 2008 s. 13) 1. The minimum level of relevant income, in the case of a relevant employee (not being a casual employee who is a member of an industry scheme), is- (Amended 18 of 2008 s. 13) (a) if the employee is remunerated on a monthly basis, $5000 per month; (b) if the employee is remunerated more frequently than on a monthly basis, $160 per day; (c) if the employee is remunerated less frequently than on a monthly basis, $5000 per month, that amount as prorated. 2. The minimum level of relevant income is, in the case of a casual employee who is a member of an industry scheme, $160 per day. 3. The minimum level of relevant income is, in the case of a self-employed person, $5000 per month or $60000 per year. (Schedule 2 replaced 29 of 2002 s. 12. Amended 18 of 2008 s. 13) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 2 MINIMUM LEVEL OF RELEVANT INCOME PER CONTRIBUTION PERIOD VerDate:01/02/2003 For the transitional provision relating to the amendments made by the Mandatory Provident Fund Schemes (Amendment) (No. 2) Ordinance 2002 (29 of 2002), see section 15 of that Ordinance. [sections 2, 9, 10A, 11 & 48] 1. The minimum level of relevant income for the purposes of section 9 of this Ordinance, in the case of a relevant employee (not being a casual employee who is a member of an industry scheme), is- (a) if the employee is remunerated on a monthly basis, $5000 per month; (b) if the employee is remunerated more frequently than on a monthly basis, $160 per day; (c) if the employee is remunerated less frequently than on a monthly basis, $5000 per month, that amount as prorated. 2. The minimum level of relevant income for the purposes of section 9 of this Ordinance is, in the case of a casual employee who is a member of an industry scheme, $160 per day. 3. The minimum level of relevant income for the purposes of section 9 of this Ordinance is, in the case of a self-employed person, $5000 per month or $60000 per year. (Schedule 2 replaced 29 of 2002 s. 12) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 2 MINIMUM LEVEL OF RELEVANT INCOME PER CONTRIBUTION PERIOD VerDate:01/12/2000 [sections 2, 9, 11 & 48] 1. The minimum level of relevant income for the purposes of section 9 of this Ordinance is, in the case of a relevant employee (not being a casual employee who is a member of an industry scheme), $4000 per month or, if the employee is not remunerated on a monthly basis, that amount as prorated. 2. The minimum level of relevant income for the purposes of section 9 of this Ordinance is, in the case of a casual employee who is a member of an industry scheme, $130 per day. 3. The minimum level of relevant income for the purposes of section 9 of this Ordinance is, in the case of a self-employed person, $4000 per month or $48000 per year. (Schedule 2 replaced 4 of 1998 s. 2) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 3 MAXIMUM LEVEL OF RELEVANT INCOME PER CONTRIBUTION PERIOD VerDate:01/12/2008 For the transitional provision relating to the amendments made by the Mandatory Provident Fund Schemes (Amendment) (No. 2) Ordinance 2002 (29 of 2002), see section 15 of that Ordinance. [sections 2, 10A & 48] (Amended 18 of 2008 s. 14) 1. The maximum level of relevant income, in the case of a relevant employee (not being a casual employee who is a member of an industry scheme), is- (Amended 18 of 2008 s. 14) (a) if the employee is remunerated on a monthly basis, $20000 per month; (b) if the employee is remunerated more frequently than on a monthly basis, $650 per day; (c) if the employee is remunerated less frequently than on a monthly basis, $20000 per month, that amount as prorated. 2. The maximum level of relevant income is, in the case of a casual employee who is a member of an industry scheme, $650 per day. 3. The maximum level of relevant income is, in the case of a self-employed person, $20000 per month or $240000 per year. (Schedule 3 replaced 29 of 2002 s. 12. Amended 18 of 2008 s. 14) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 3 MAXIMUM LEVEL OF RELEVANT INCOME PER CONTRIBUTION PERIOD VerDate:01/02/2003 For the transitional provision relating to the amendments made by the Mandatory Provident Fund Schemes (Amendment) (No. 2) Ordinance 2002 (29 of 2002), see section 15 of that Ordinance. [sections 2, 10, 10A & 48] 1. The maximum level of relevant income for the purposes of section 10 of this Ordinance, in the case of a relevant employee (not being a casual employee who is a member of an industry scheme), is- (a) if the employee is remunerated on a monthly basis, $20000 per month; (b) if the employee is remunerated more frequently than on a monthly basis, $650 per day; (c) if the employee is remunerated less frequently than on a monthly basis, $20000 per month, that amount as prorated. 2. The maximum level of relevant income for the purposes of section 10 of this Ordinance is, in the case of a casual employee who is a member of an industry scheme, $650 per day. 3. The maximum level of relevant income for the purposes of section 10 of this Ordinance is, in the case of a self-employed person, $20000 per month or $240000 per year. (Schedule 3 replaced 29 of 2002 s. 12) MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SCHEDULE 3 MAXIMUM LEVEL OF RELEVANT INCOME PER CONTRIBUTION PERIOD VerDate:01/12/20