Chapter:	485	Title:	Mandatory Provident Fund Schemes Ordinance	Gazette Number:	29 of 2002
Section:	12	Heading:	Contributions to vest in scheme members as accrued benefits	Version Date:	19/07/2002

(1) Subject to section 12A, a contribution in respect of a member of a registered scheme vests in the member as accrued benefits as soon as it is paid to the approved trustee of the scheme.
(2) Subject to subsection (2A) and section 12A, income or profits derived from the investment of the accrued benefits of a member of a registered scheme by or on behalf of the approved trustee of the scheme also (after taking into account any loss arising from any such investment) vest in the member as accrued benefits as soon as they are received by that trustee. (Amended 29 of 2002 s. 6)
(2A) The reference to income or profits in subsection (2) does not include interest derived from the placing on deposit of-

(a) contributions or benefits-
(i) received by the approved trustee of a registered scheme in respect of a member of the scheme; and
(ii) during the period that the payment of the contributions or benefits into the member's account is pending;
(b) benefits-
(i) moved from a constituent fund; and
(ii) during the period that the investment of the benefits into another constituent fund is pending; and
(c) benefits-
(i) received from a constituent fund; and
(ii) during the period that-
(A) withdrawal of the benefits from the registered scheme concerned is pending; or
(B) transfer of the benefits to another registered scheme is pending. (Added 29 of 2002 s. 6)

(a) for the payment of any administrative expenses of the scheme; or
(b) as income of the scheme,