Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION - SECT 11

Prescribed capital adequacy requirements

(Past version on 03/08/1999).

(1) The requirements set out in this section are the prescribed capital
requirements that have to be complied with by a company that applies to be or
is an approved trustee of a registered scheme.

(2) The prescribed capital adequacy requirements are complied with if the
company-

   (a)  has a paid up share capital of at least $150000000; and

   (b)  owns net assets of at least the same amount; and

   (c)  owns assets held in Hong Kong to the value of at least $15000000.

(3) The prescribed capital adequacy requirements are also complied with if the
company-

   (a)  is an associate of-

        (i)    a company or corporation that is a substantial financial 
               institution and provides continuous financial support to the
               first-mentioned company; or

        (ii)   a company or corporation having a subsidiary that is a
               substantial financial institution and provides
               continuous financial  support to the first-mentioned company;
               and (L.N. 223 of 2000)

   (b)  has a paid up share capital of at least $30000000 and owns net  assets
        of at least the same amount; and

   (c)  owns assets held in Hong Kong to the value of at least $15000000.