Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION - SECT 77

Proper accounting records to be kept

PART VII

ACCOUNTING AND OTHER RECORDS

(1) The approved trustee of a registered scheme must ensure that-

   (a)  such accounting records are kept so as to correctly record and explain
        all transactions concerning the scheme and the financial position of
        the scheme; and

   (b)  those records are so kept that-

        (i)    financial statements showing a true and fair view of the
               financial transactions of the scheme during each
               financial period and of the disposition of its assets and
               liabilities at the end of each financial  period can be
               prepared from time to time; and

        (ii)   those financial statements can be conveniently and properly
               audited in accordance with this Regulation.

(2) The approved trustee of a registered scheme must ensure that the
accounting records of the scheme are kept in writing in either the Chinese
language or the English language or, if not kept in either of those languages,
in a form that is readily accessible and readily convertible to writing in
either of those languages.

(3) The approved trustee of a registered scheme must ensure that the
accounting records of the scheme are kept at a place or places so that those
records can be readily accessible in Hong Kong for the purpose of enabling the
Authority to discharge its duties from time to time.

(4) The approved trustee of a registered scheme must ensure that, at all
reasonable times and without charge, the accounting records of the  scheme are
made available for inspection by the Authority, either in writing in the
Chinese language or the English language or in a form readily convertible to
writing in either of those languages.