Hong Kong Regulations

IMMIGRATION SERVICE (WELFARE FUND) REGULATION - SECT 9

Irrecoverable assets and debts to be written off

(1) The Financial Secretary, or a public officer authorized by the Financial
Secretary, may authorize the corporation to write off an asset or a debt due
to the Fund that the corporation considers irrecoverable.

(2) The writing-off of an asset or debt under subsection (1)-

   (a)  is subject to any guideline or direction that the Financial Secretary
        may specify or give; and

   (b)  takes effect only for the purpose of the accounting records of the
        Fund; and

   (c)  does not extinguish any right of the corporation to recover the asset
        or debt being written off.