Contents of Section

Chapter:

426J PDFTitle:OCCUPATIONAL RETIREMENT SCHEMES (NOTICES OF CHANGES) RULESGazette Number:L.N. 72 of 1999
Section:6Heading:Notice of change of administrator of a registered schemeVersion Date:30/04/1999


(1) Any notice of change required under section 22(1)(b) of the Ordinance (including, in the case of a registered scheme that is a group scheme, that section as applied by section 67(2)(ge) of the Ordinance) shall be given in accordance with this section.
(2) A notice referred to in subsection (1) shall-

        (a) be in writing and in such form as may be specified by the Registrar;
        (b) be accompanied by the prescribed fee;
        (c) be signed by the person giving the notice;
        (d) contain the following particulars of the scheme after the change-
          (i) a statement as to whether the scheme is a participating scheme of a pooling agreement;
          (ii) for a scheme that is a participating scheme of a pooling agreement-
            (A) a statement as to whether the scheme is governed by a trust or is the subject of or regulated by an insurance arrangement;
            (B) the name of the pooling agreement; and
            (C) in the case of a scheme governed by a trust, the name of the registered trust company managing the pooling agreement;
          (iii) for a scheme that is not a participating scheme of a pooling agreement, a statement as to whether the scheme-
            (A) is governed by a trust;
            (B) is the subject of or regulated by an insurance arrangement; or
            (C) is neither governed by a trust nor the subject of or regulated by an insurance arrangement;
          (iv) a statement as to whether there is a change of the domicile of the scheme; and
          (v) in the case of a scheme governed by a trust, the total number of trustees and the number of non-employer trustees;
        (e) contain particulars of the incoming or outgoing administrator and the date on which he becomes or ceases to be an administrator, as the case may be;
        (f) in the case of a registered scheme that is an offshore scheme, state whether a submission described in paragraph 3 of Part 3 of Schedule 1 to the Ordinance has been made by or on behalf of the incoming administrator;
        (g) in the case of a registered scheme that is a defined benefit scheme, state whether the relevant employer has given a written undertaking to the incoming administrator to contribute to the scheme's funds in accordance with recommendations contained in the most recent actuarial certificate supplied as regards the scheme to the Registrar in accordance with the Ordinance; and
        (h) in the case of a registered scheme that is governed by a trust, state whether the terms of the relevant trust instrument require appointment of a trustee to replace the outgoing administrator as trustee.