Contents of Section

Chapter:

426 PDFTitle:OCCUPATIONAL RETIREMENT SCHEMES ORDINANCEGazette Number:
Section:45Heading:Cancellation of registrationVersion Date:30/06/1997

(1) Where-

        (a) a notice of a proposed cancellation of the registration of a registered scheme has been given in accordance with section 43(1);
        (b) the period during which representations or objections may be made has expired;
        (c) not less than 2 months have expired since the date of such notice; and
        (d) the Registrar, having considered the representations or objections (if any) made as regards the proposed cancellation, is satisfied that-
          (i) a requirement of section 20 is not complied with;
          (ii) the requirement of section 21 is not complied with;
          (iii) any requirement of section 24 has not been complied with;
          (iv) a requirement under section 26(1) is not complied with;
          (v) a requirement under section 27(7) is not complied with;
          (vi) the requirement of section 28(3) is not complied with;
          (via) a notice has been given under section 29(1); (Added 53 of 1995 s. 20)
          (vii) a requirement of section 30 is not complied with;
          (viii) the requirement of section 31 is not complied with;
          (ix) a requirement under section 32(1) is not complied with;
          (x) a requirement under section 33 is not complied with;
          (xi) the requirement of section 37(1) is not complied with;
          (xii) a notice has been given under section 37(2) and no application was made under that section as regards the scheme or that an application made under that section is refused;
          (xiii) a notice has been given under section 39(1) and no undertaking was given to the Registrar in accordance with section 39(3);
          (xiv) a notice has been given under section 39(2) and no application was made under that section as regards the scheme; or
          (xv) the cancellation of the registration of the scheme will be in the interests of the members of the scheme as a whole,
the Registrar may cancel the registration of the scheme.
(2) Where the Registrar cancels the registration of a registered scheme under subsection (1), he shall-
        (a) publish a notice in writing in at least one newspaper in the English language and one in the Chinese language circulating daily in Hong Kong; and
        (b) give a notice in writing to the relevant employer of the scheme requiring him to-
          (i) cause a copy of the notice to be sent to each member of the scheme; or
          (ii) display an appropriate notice of the Registrar's notice and make the latter available for inspection by such member.
(3) A notice published or given by the Registrar under subsection (2) shall state-
        (a) the decision of the Registrar;
        (b) that appeal against the cancellation may be made by the relevant employer of the scheme to the Appeal Board within 2 months after the date of the notice; and
        (c) the date on which the cancellation will come into effect.
(4) Any employer who fails to comply with a requirement under subsection (2)(b) commits an offence and shall be liable on summary conviction to a fine of $10000.
(Enacted 1992)