Cap 485 s 6A Membership of Authority (Mandatory Provident Fund Schemes Ordinance)

Contents of Section

Chapter:	485	Title:	Mandatory Provident Fund Schemes Ordinance	Gazette Number:	L.N. 293 of 1998
Section:	6A	Heading:	Membership of Authority	Version Date:	24/07/1998

(1) The Authority is to consist of not fewer than 10 directors appointed by the Chief Executive.
(2) Of the directors-

(a) not fewer than 4 are to be executive directors; and

(b) the remainder are to be non-executive directors.

(3) Of the non-executive directors-

(a) at least 1 but no more than 2 are to be persons who, in the opinion of the Chief Executive, represent the interests of participating employers; and

(b) at least 1 but no more than 2 are to be persons who, in the opinion of the Chief Executive, represent the interests of relevant employees.

(4) In appointing the directors, the Chief Executive must ensure that-

(a) a majority of the directors are non-executive directors; and

(b) the number of persons appointed to represent the interests of relevant employees is equal to the number of persons appointed to represent the interests of participating employers.

(5) A director must exercise a reasonable degree of care and diligence so as to ensure that the Authority exercises and performs its functions properly.
(6) The Authority may exercise or perform any of its functions despite a vacancy in its membership.
(7) Schedule 1A has effect with respect to the directors and procedure of the Authority.

(Added 4 of 1998 s. 2)