Hong Kong Ordinances

MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6A

Membership of Authority

(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)