Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (EXEMPTION) REGULATION - SECT 11

Proposal to withdraw exemption certificate

(1) The Authority may issue a proposal to withdraw an exemption  certificate
where it appears to the Authority that any of the requirements of or under
this Regulation applicable to or in relation to the ORSO  exempted scheme to
which the certificate relates are not, or are no longer, being complied with.

(2) Where the Authority issues a proposal under subsection (1), the Authority
shall give a notice in writing of the proposal to the relevant  employer of
the ORSO exempted scheme to which the proposal relates requiring the employer
to-

   (a)  cause a copy of the notice to be sent to each member of the scheme who
        is a relevant employee; or

   (b)  display an appropriate notice of the Authority's notice and make the
        latter available for inspection by such member.

(3) A notice given by the Authority under subsection (2) shall-

   (a)  state the reason for issuing the proposal; and

   (b)  state that representations or objections as regards the proposed
        withdrawal may be made to the Authority within such period (being a
        period of not less than 1 month beginning on the date on which the
        notice is given) as shall be specified in the notice.

(4) The Authority may on an application in writing-

   (a)  withdraw a proposal issued under subsection (1); or

   (b)  extend the period referred to in subsection (3).