Hong Kong Ordinances

MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 24

Trustee's covenants in respect of governing rules

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)