Chapter Number and Title of Enactment

Chapter:

485Title:Mandatory Provident Fund Schemes Ordinance

Download CAP 485 Mandatory Provident Fund Schemes Ordinance [format: PDF].

: If this pencil mark appears at the beginning of a provision, that provision is subject to amendments that are already in operation but have not yet been incorporated in its text.

Table of contents of enactment:
Cap 485 Long title
Cap 485 Part 1Preliminary
Cap 485 s 1Short title
Cap 485 s 2Interpretation
Cap 485 s 3Application
Cap 485 s 4Exemptions
Cap 485 s 5Members of certain occupational retirement schemes to be exempted from this Ordinance
Cap 485 s 5ARegister of exempt schemes to be kept
Cap 485 Part 2Mandatory Provident Fund Schemes Authority
Cap 485 s 6Establishment of Mandatory Provident Fund Schemes Authority
Cap 485 s 6AMembership of Authority
Cap 485 s 6BManaging Director of Authority
Cap 485 s 6CChairperson and deputy chairperson of the Authority
Cap 485 s 6DAuthority may establish committees
Cap 485 s 6EFunctions of Authority
Cap 485 s 6FAuthority may delegate functions
Cap 485 s 6GPower to appoint staff and consultants
Cap 485 s 6HAuthority may issue guidelines
Cap 485 s 6IAuthority to prepare annual report
Cap 485 s 6JAuthority to prepare corporate plan
Cap 485 s 6KPreparation of other reports by Authority
Cap 485 s 6KADesignation of electronic system by Authority
Cap 485 s 6LFinancial year of the Authority
Cap 485 s 6MMPFA Administration Account
Cap 485 s 6NAuthority to keep proper accounting records
Cap 485 s 6OAuthority to appoint auditor
Cap 485 s 6PAuthority's financial statements to be audited
Cap 485 s 6QInvestment of surplus funds
Cap 485 s 6QAAuthority may borrow money
Cap 485 s 6REstablishment of Advisory Committee
Cap 485 s 6SMeetings of the Advisory Committee
Cap 485 s 6TFunctions of Advisory Committee
Cap 485 s 6UEstablishment of Industry Schemes Committee
Cap 485 s 6VMeetings of Industry Schemes Committee
Cap 485 s 6WFunctions of Industry Schemes Committee
Cap 485 Part 3Mandatory Contributions and Voluntary Contributions*
Cap 485 s 7Employer to arrange for employees to become scheme members, etc.
Cap 485 s 7AEmployer and relevant employees required to contribute to registered scheme
Cap 485 s 7AAEmployer required to pay contributions to Authority where relevant employee not member of registered scheme
Cap 485 s 7ABContributions paid under section 7AA be accompanied by statement
Cap 485 s 7ACAuthority to pay contributions received under section 7AA to approved trustee
Cap 485 s 7ADApproved trustee¡¦s duties with regard to contributions received from Authority
Cap 485 s 7AECertain contributions due for payment to the Authority on commencement of section 7AA
Cap 485 s 7BSections 7, 7A and 7AA not to apply to certain employees*
Cap 485 s 7CDuty of self-employed person to become scheme member
Cap 485 s 7DApplication of Ordinance to certain employees and self-employed persons
Cap 485 s 8(Repealed 4 of 1998 s. 2)
Cap 485 s 9Minimum level of income for contribution purposes
Cap 485 s 10Maximum level of income for contribution purposes
Cap 485 s 10AAuthority to conduct review of minimum and maximum levels of relevant income every 4 years
Cap 485 s 11Voluntary contributions
Cap 485 s 12Contributions to vest in scheme members as accrued benefits
Cap 485 s 12ACertain amounts relating to severance payments and long service payments to be paid from accrued benefits
Cap 485 s 13Preservation of accrued benefits derived from contributions
Cap 485 s 14Portability of accrued benefits
Cap 485 s 15Withdrawal of accrued benefits
Cap 485 s 16Protection of accrued benefits
Cap 485 s 17Compensation for losses in respect of accrued benefits
Cap 485 s 17AScheme member may claim compensation from compensation fund
Cap 485 s 17BApplication to Court
Cap 485 s 17CAdministrators to pay compensation to specified person
Cap 485 s 18Recovery of arrears and contribution surcharges*
Cap 485 s 19Powers of Authority in relation to mandatory contributions
Cap 485 s 19APower of Authority to require production of records
Cap 485 Part 3ASpecial Contributions
Cap 485 s 19BAuthority may pay special contributions into accounts of scheme members
Cap 485 s 19CAuthority may require information or documents necessary for paying special contributions
Cap 485 s 19DAuthority may require approved trustees to take actions necessary for paying special contributions
Cap 485 s 19EAuthority may recover special contributions that should not have been paid
Cap 485 s 19FVesting of special contributions
Cap 485 s 19GLiability to pay other contributions
Cap 485 s 19HPart 3A prevails over any instruments applicable to registered schemes
Cap 485 Part 4Mandatory Provident Fund Schemes
Cap 485 s 20Approval of trustees
Cap 485 s 20ASuspension of approval of approved trustee
Cap 485 s 20BRevocation of approval of approved trustee
Cap 485 s 20CRegister of approved trustees to be kept
Cap 485 s 21Application for registration as employer sponsored scheme or master trust scheme
Cap 485 s 21AApplications for registration of schemes as industry schemes
Cap 485 s 21BRegister of schemes to be kept
Cap 485 s 21CRegulations with respect to registered schemes
Cap 485 s 22Approved trustee to comply with prescribed requirements and standards
Cap 485 s 22AAnnual statements to be lodged with the Authority
Cap 485 s 22BAnnual registration fee to be paid to the Authority
Cap 485 s 23Residual Provident Fund Scheme
Cap 485 s 24Trustee's covenants in respect of governing rules
Cap 485 s 25Duties of officers of corporate trustees
Cap 485 s 26Governing rules not to exempt approved trustee from liability for breach of trust etc.
Cap 485 s 27Duties and powers of approved trustees of registered schemes
Cap 485 s 28Authority may publish guidelines on forbidden investment practices in relation to registered schemes
Cap 485 s 29Restricted investments
Cap 485 s 30Report of auditor
Cap 485 s 30AGeneral power of inspection
Cap 485 s 31Information and documents
Cap 485 s 32Investigation
Cap 485 s 33Suspension and termination of approved trustee's administration of registered scheme
Cap 485 s 33AAuthority to appoint administrator on suspension or termination of trustee's administration
Cap 485 s 33BAuthority to appoint replacement trustee on termination of approved trustee's administration
Cap 485 s 34Voluntary winding up of employer sponsored scheme
Cap 485 s 34AWinding up of registered schemes otherwise than in accordance with section 34 or 34D
Cap 485 s 34BAuthority may consent to restructuring of registered schemes*
Cap 485 s 34C(Repealed 29 of 2002 s. 10)
Cap 485 s 34DCancellation of registration of registered scheme which has no scheme members, etc.
Cap 485 Part 4ASales and Marketing Activities, and Giving of Advice, in relation to Registered Schemes
Cap 485 Part 4A Division 1Preliminary
Cap 485 s 34EInterpretation
Cap 485 s 34FRegulated activity, material decision and regulated advice
Cap 485 s 34GPrincipal intermediary
Cap 485 s 34HSubsidiary intermediary
Cap 485 s 34IResponsible officer and specified responsibilities
Cap 485 s 34JRevocation or suspension of qualification as Type A regulatee
Cap 485 s 34KRevocation or suspension of qualification as Type B regulatee
Cap 485 Part 4A Division 2Prohibitions
Cap 485 s 34LProhibition against carrying on regulated activities etc.
Cap 485 s 34MExceptions to section 34L
Cap 485 s 34NOffence relating to prohibitions
Cap 485 Part 4A Division 3Investigation concerning Contravention of Prohibition
Cap 485 s 34OInitiating investigation
Cap 485 s 34PInvestigation powers
Cap 485 Part 4A Division 4Registration of Intermediaries and Approval of Responsible Officers
Cap 485 s 34QRegister of intermediaries
Cap 485 s 34RRegister to be made available through internet
Cap 485 s 34SContents of Register
Cap 485 s 34TRegistration as principal intermediary and related matters
Cap 485 s 34URegistration as subsidiary intermediary
Cap 485 s 34VApproval of attachment of subsidiary intermediary to principal intermediary
Cap 485 s 34WApproval as responsible officer
Cap 485 s 34XAuthority may impose conditions on registration or approval
Cap 485 s 34YProcedural requirement for rejecting application, or imposing or amending conditions
Cap 485 s 34ZAssignment of frontline regulator for principal intermediary
Cap 485 s 34ZAAssignment of frontline regulator for subsidiary intermediary
Cap 485 s 34ZBAssignment of frontline regulator for responsible officer
Cap 485 Part 4A Division 5Change in Circumstances after Registration or Approval
Cap 485 s 34ZCPrincipal intermediary ceasing to be Type A regulatee etc.
Cap 485 s 34ZDPrincipal intermediary without responsible officer
Cap 485 s 34ZEOther change in relation to principal intermediary
Cap 485 s 34ZFSubsidiary intermediary ceasing to be Type B regulatee etc.
Cap 485 s 34ZGSubsidiary intermediary without principal intermediary
Cap 485 s 34ZHSubsidiary intermediary whose principal intermediary having registration revoked
Cap 485 s 34ZIOther change in relation to subsidiary intermediary
Cap 485 s 34ZJResponsible officer no longer attached to principal intermediary
Cap 485 s 34ZKResponsible officer ceasing to have sufficient authority within principal intermediary etc.
Cap 485 Part 4A Division 6Conduct and Other Requirements for Intermediaries and Responsible Officers
Cap 485 s 34ZLConduct requirements for registered intermediary
Cap 485 s 34ZMConduct requirements for responsible officer
Cap 485 s 34ZNAnnual fees
Cap 485 s 34ZOAnnual return
Cap 485 s 34ZPContinuing training
Cap 485 Part 4A Division 7Inspection and Investigation Concerning Failure to Comply with Performance Requirement
Cap 485 s 34ZQInitiating inspection powers for monitoring compliance
Cap 485 s 34ZRInspection powers
Cap 485 s 34ZSInspection powers exercisable in relation to former regulated person
Cap 485 s 34ZTInitiating investigation powers for suspected non-compliance
Cap 485 s 34ZUInvestigation powers
Cap 485 s 34ZVInvestigation powers exercisable in relation to former regulated persons
Cap 485 Part IVA Division 8Disciplinary Order for Failure to Comply with Performance Requirements
Cap 485 s 34ZWAuthority may make disciplinary order
Cap 485 s 34ZXWhen disciplinary order takes effect
Cap 485 s 34ZYFurther action by Authority
Cap 485 s 34ZZProcedural requirement for Authority before making disciplinary order or taking further action
Cap 485 s 34ZZAApplication of disciplinary powers in relation to former regulated person
Cap 485 Part 4A Division 9Miscellaneous
Cap 485 Part 4A Division 9 Subdivision 1Provisions Supplementary to Divisions 3 and 7
Cap 485 s 34ZZBInspection and investigation powers in relation to certain entity
Cap 485 s 34ZZCOffences relating to sections 34P, 34ZR and 34ZU
Cap 485 s 34ZZDCourt to inquire into failure to comply with inspection or investigation requirement
Cap 485 s 34ZZEUse of incriminating evidence in proceedings
Cap 485 s 34ZZFMagistrate¡¦s warrant
Cap 485 Part 4A Division 9 Subdivision 2Other Miscellaneous Provisions
Cap 485 s 34ZZGRegistration or approval revocable on request
Cap 485 s 34ZZHNotice of revocation, suspension, etc.
Cap 485 s 34ZZIEffect of revocation and suspension
Cap 485 s 34ZZJPayment by Authority to industry regulator in relation to expenditure or cost for services
Cap 485 s 34ZZKTransitional and saving provisions
Cap 485 Part 5Appeals
Cap 485 s 35Appeal Board
Cap 485 s 36Constitution and powers of Appeal Board
Cap 485 s 37Appeal Board's decision is final
Cap 485 s 38Supplementary provisions relating to appeals
Cap 485 s 39Case may be stated for Court of Appeal
Cap 485 s 40Offences relating to appeal
Cap 485 Part 6Miscellaneous
Cap 485 s 41Persons not to disclose certain information
Cap 485 s 42Authority may disclose certain information despite section 41
Cap 485 s 42AAAuthority or specified entity may disclose information obtained under Part IVA despite section 41
Cap 485 s 42ABPerson not to disclose information obtained in the course of inspection, investigation or disciplinary action
Cap 485 s 42AProtection for auditors and service providers
Cap 485 s 42BImmunity
Cap 485 s 43Offence for unapproved person to carry on business as approved trustee, etc.
Cap 485 s 43AOffences by approved trustees
Cap 485 s 43BOffences by employers
Cap 485 s 43BACourt may make certain orders in proceedings for offences under section 43B
Cap 485 s 43COffences by self-employed persons
Cap 485 s 43DOffence to obstruct Authority etc. in the exercise or performance of functions
Cap 485 s 43EOffence to make false or misleading statement
Cap 485 s 43FOffence relating to pay-record
Cap 485 s 44Liability of officers, managers and partners
Cap 485 s 44AProof of certain matters in proceedings for offence under section 43B(3A)
Cap 485 s 45Application and interpretation of sections 45B and 45C
Cap 485 s 45APower to make regulations for purposes of sections 45B and 45C
Cap 485 s 45BAuthority may serve notice requiring payment of financial penalty in certain cases
Cap 485 s 45CProceedings for recovery of financial penalty
Cap 485 s 45DHow financial penalty is to be dealt with when paid or recovered
Cap 485 s 45EPerson not liable to be proceeded against for offence and financial penalty relating to same matter
Cap 485 s 45FPower of Court to make certain orders
Cap 485 s 45GRight to bring civil proceedings to recover financial loss
Cap 485 s 46Regulations
Cap 485 s 47Rules
Cap 485 s 47AAuthority may specify or approve forms
Cap 485 s 47BRules against perpetuities not to apply to registered schemes
Cap 485 s 47CService of summons
Cap 485 s 48Amendment of Schedules
Cap 485 s 49(Omitted as spent¡XE.R. 1 of 2013)
Cap 485 Sched 1Exempt Persons
Cap 485 Sched 1AProvisions Relating to Authority
Cap 485 Sched 1BDelegation of Functions of Authority
Cap 485 Sched 2Minimum Level of Relevant Income Per Contribution Period
Cap 485 Sched 3Maximum Level of Relevant Income Per Contribution Period
Cap 485 Sched 4(Repealed 4 of 1998 s. 2)
Cap 485 Sched 5Covenants to be Implied in Governing Rules
Cap 485 Sched 5AProcedure at Inquiries
Cap 485 Sched 5BTransitional and Saving Provisions for Part IVA
Cap 485 Sched 6Decisions which may be the Subject of an Appeal
Cap 485 Sched 7Age Specified for the Purposes of section 15(2)
Cap 485 Sched 8Associates and Associated Companies*
Cap 485 Sched 9(Omitted as spent¡XE.R. 1 of 2012)




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