Page:Mandatory Provident Fund Schemes Ordinance (Cap. 485).pdf/34

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A2202
Ord. No. 80 of 1995
MANDATORY PROVIDENT FUND SCHEMES
(g) providing for the approval of a trustee as an approved trustee;
(h) providing for the service of notices in writing or other documents on approved trustees for the purposes of this Ordinance;
(i) providing for the winding up of a registered scheme;
(j) for the purposes of sections 5, 7, 11, 14, 15, 17, 18, 19, 20, 21, 24, 27, 29, 33, 34 and 43;
(k) providing for the better or more effectual carrying out of the provisions and objects of this Ordinance, including incidental, consequential, evidential, ancillary and supplemental provisions.

(2) Any regulations made under this section may prescribe offences in respect of contraventions of the regulations, and may provide for the imposition of a fine not exceeding level 5 and of imprisonment for a period not exceeding 1 year.

(3) Regulations made under this section shall be subject to the approval of the Legislative Council.

47. Rules

(1) The Authority may, in relation to a registered scheme, make rules—

(a) providing for the administration, management, maintenance and regulation of a registered scheme and the trust in relation thereto;
(b) providing for the role, duties, responsibilities and obligations of approved trustees;
(c) providing for the maintenance of relevant employees’ accounts in respect of contributions to the trustee of a registered scheme, and the disclosure of information in respect thereof to the account holders;
(d) providing for the imposition of satisfactory vesting requirements in respect of contributions to the trustees of a registered scheme;
(e) providing for the imposition of requirements in respect of the assets of a registered scheme, including—
(i) requirements relating to the separation of those assets in respect of that registered scheme from other assets in the beneficial ownership of employers who are making contributions in respect of that registered scheme;
(ii) requirements that the first-mentioned assets shall only be applied for the purposes of a registered scheme;
(iii) requirements that the first-mentioned assets shall not be subject to any charge, pledge, lien, mortgage or other encumbrance, other than in such circumstances as may be specified therein or otherwise authorized under this Ordinance;