Hong Kong Ordinances

MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 19B

Authority may pay special contributions into accounts of scheme members

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)