Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION - SECT 76

Power of Authority on becoming aware of matters reported under section 75

(1) If, on receiving a report under section 75 or otherwise becoming aware of
a matter referred to in that section, the Authority is of the opinion that the
matter is capable of being rectified, the Authority may, by written notice
given to the trustee concerned, direct the trustee to rectify the matter at
the trustee's own expense within such period as is specified in the notice.

(2) After giving a direction under subsection (1), the Authority may-

   (a)  by written notice given to the auditor of the scheme, request the
        auditor, as soon as practicable after the end of the period specified
        in the notice and at the expense of the trustee, to provide the
        Authority with a report as to whether or not the trustee has rectified
        the matter; and

   (b)  attach to that notice a copy of the notice given to the trustee
        containing the direction.

(3) An approved trustee who, without reasonable excuse, fails to comply with a
direction given by the Authority under subsection (1) commits an offence and
is liable on conviction to a fine at level 6.