||Title:||Mandatory Provident Fund Schemes Ordinance||Gazette Number:||L.N. 119 of 2000; L.N. 120 of 2000|
|Section:||23||Heading:||Residual Provident Fund Scheme||Version Date:||01/12/2000|
(1) The Authority may establish, or arrange for the establishment of, a provident fund scheme, to be known as the "Residual Provident Fund Scheme", for the purpose specified in subsection (2). On establishing, or making arrangements for the establishment of, the Residual Provident Fund Scheme, the Authority must appoint a company that is an approved trustee to administer the scheme. (Replaced 4 of 1998 s. 2)
(2) The principal purpose of the Residual Provident Fund Scheme established under subsection (1) is to provide, as a last resort only, membership of that Scheme to a relevant employee of an employer, or to a self-employed person where that employer or self-employed person, as the case may be-
in respect of that employer or self-employed person, as the case may be, the Authority has not succeeded in obtaining access to a registered scheme which would otherwise enable compliance with the requirements referred to in paragraph (a).
(a) (i) in the case of the employer, declares in writing to the Authority that he has not, through his own efforts or otherwise, been able to comply with the requirements of section 7(1); or
(ii) in the case of the self-employed person, declares in writing to the Authority that he has not, through his own efforts or otherwise, been able to become a member of a registered scheme as required under section 7C; (Amended 4 of 1998 s. 2)
(b) authorizes the Authority to assist him in obtaining access to a registered scheme for the purpose of compliance with the requirements referred to in paragraph (a), as applicable;
(c) provides to the Authority all information and assistance as may reasonably be required by the Authority for that purpose, and
(3) If, in the opinion of the Authority, it is desirable to do so, the Authority may authorize the Residual Provident Fund Scheme to have the following additional purposes-
(4) The Authority may make rules under section 47 for the purpose of this section for the efficient and effectual operation of the Residual Provident Fund Scheme.
(a) to facilitate portability or transferability of accrued benefits to, from or between registered schemes;
(b) to provide for any unclaimed accrued benefits; and
(c) to achieve any other purposes of this Ordinance.
(5) In this section "employer" (僱主) includes a prospective employer, and "self-employed person" (自僱人士) includes a prospective self-employed person.