(2) Where an offence under this Ordinance committed by a partner is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, any other partner of the partnership, that other partner shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
45. Penalties
(1) Any person convicted of an offence under section 43, other than subsection (1)(d) or (f) of that section, is liable to a fine at level 6 and to imprisonment for 1 year and, where the offence involves the failure on the part of an employer to pay a statutory minimum contribution in respect of a relevant employee to the trustee of a registered scheme, shall, in addition to the fine, pay to the trustee of the registered scheme, for the credit of the relevant employee’s account, the amount, or that part of the amount of the statutory minimum contribution not previously paid, together with interest thereon at the rate of 15% per annum or at such other rate as may be substituted from time to time by the Chief Justice by notice published in the Gazette for that purpose.
(2) Any employer convicted of an offence under section 43(1)(d) or (f) is liable to a fine at level 6 and to imprisonment for 3 years and shall, in addition to the fine, pay to the trustee of a registered scheme, for the credit of the relevant employee’s account, the amount, or that part of the amount, of the statutory minimum contribution not previously paid, together with interest thereon at the rate of 15% per annum or such other rate as may be substituted from time to time by the Chief Justice by notice published in the Gazette for that purpose.
46. Regulations
(1) The Governor in Council may, in relation to a registered scheme, make regulations—
- (a) for the purposes of the definition of retirement age;
- (b) prescribing forms, including those relating to the right of election of a relevant employee to participate in a registered scheme;
- (c) providing for the withdrawal of accrued benefits from a registered scheme and the payment thereof to a relevant employee;
- (d) providing for the operation of a compensation fund;
- (e) for the purposes of the compensation fund, of a levy (including the rate of levy) in respect thereof and meeting claims and expenses therefrom;
- (f) providing for the suspension or removal of an approved trustee under section 33;
