【法规名称】
【法规编号】 79845 什么是编号？
【正 文】
第11页 CAP 485A MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION
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[接上页] (2) The governing rules of the scheme must provide- (a) that participating employers are obliged, on request by any of their employees who are members of the scheme, to pay to the trustee of the scheme any voluntary contribution made by those employees; and (b) if a participating employer elects to make voluntary contributions in respect of any employees who are members of the scheme, that those contributions will become vested in those employees as accrued benefits in accordance with the governing rules of the scheme; and (c) if an employee or a self-employed person who is a member of a registered scheme elects to make voluntary contributions, that those contributions will become vested in full as accrued benefits in that employee or self-employed person when the contributions are received by the approved trustee of the scheme.(3) If a member of the scheme so requests, accrued benefits derived from voluntary contributions made by or in respect of the member must be paid to the member as provided by the governing rules of the scheme. Where any of those voluntary contributions are required to be made by the scheme member's employer, then the governing rules of the scheme must, not later than 6 months after the commencement of this subsection, provide for the payment of any accrued benefits derived from voluntary contributions if the employer has failed to make such a required voluntary contribution to the scheme within 6 months after- (a) if the amount of the voluntary contributions required to be made by the employer is determined by reference to the income derived from the employee's employment with the employer, the end of the period covered by the payment of such income; (b) if the amount of the relevant contributions required to be made by the employer is determined by reference to a period of employment of the employee with the employer, the end of such period. (2 of 2002 s. 21) Cap 485A s 34 No fees etc. for transfer of accrued benefits other than actual expenses No fees may be charged, and no financial penalties may be imposed, for transferring accrued benefits from a registered scheme to another scheme or from one account to another account within the scheme, other than actual and reasonable expenses incurred by the trustee as a result of redeeming funds in connection with the transfer from a unit trust or similar type of investment and of purchasing units in another such investment, where a difference in price of the units is normally associated with the redemption of those funds and the purchase of those units. Cap 485A s 35 No fees etc. for transfer of accrued benefits in certain circumstances (1) If, after contributions have ceased to be paid to a registered scheme by or on behalf of a scheme member, no fees may be charged, and no financial penalties may be imposed, for the transfer of the member's accrued benefits to another scheme or from one account to another account within the scheme. (2) Subsection (1) applies only to the first transfer of those benefits made in respect of the member and only if- (a) that transfer is made within not more than 12 months after the date on which the contributions ceased to be paid; and (b) the amount of those benefits, at the time of the transfer, does not exceed $5000. Cap 485A s 36 Scheme may consist of a single constituent fund or of separate constituent funds (1) A registered scheme may consist of a single constituent fund, or of 2 or more constituent funds. (2) A constituent fund must be approved by the Authority. (3) If the scheme comprises 2 or more constituent funds, each of the funds must have different investment policies so as to provide scheme members with a choice as to the investment of their accrued benefits. Cap 485A s 37 Provisions relating to capital preservation fund (1) At least one of the constituent funds of a registered scheme must be a capital preservation fund. (2) A capital preservation fund- (a) may be invested only- (i) by placing it on deposit in accordance with section 11 of Schedule 1, but only for a term not exceeding 12 months; or (ii) in debt securities with a remaining maturity period of 2 years or less and of a kind referred to in section 7(2)(a) or (b) of Schedule 1; or (iii) in debt securities with a remaining maturity period of 1 year or less and that satisfy the minimum short term credit rating set by the Authority, based on the credit rating of the securities as determined by an approved credit rating agency; and(b) must have an average portfolio remaining maturity period of not more than 90 days; and (c) must have a total value of Hong Kong dollar currency investments equal to the total market value of the fund, as measured by the effective currency exposure, in accordance with section 16 of Schedule 1; and (d) must operate as a unit trust, or as a unitized insurance policy issued by an authorized insurer.(3) After taking into account any losses arising from the investment of the funds comprising a capital preservation fund, all income and profits derived from the investment of those funds must be credited to the scheme members concerned at least once each month. |
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