Hong Kong Ordinances

MANDATORY PROVIDENT FUND SCHEMES ORDINANCE - SECT 6N

Authority to keep proper accounting records

(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)