【法规名称】
【法规编号】 79845 什么是编号？
【正 文】
第5页 CAP 485A MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION
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[接上页] (ii) a service provider appointed or engaged for the purposes of that scheme; or (iii) an employee or agent of the trustee or of the service provider;(b) the risk of loss of scheme assets kept on the premises of the trustee or service providers or at a central securities depository; (c) the risk of loss of scheme assets while they are being transported in the custody of the trustee or service providers, or of a central securities depository; (d) the risk of loss of scheme assets arising from relying on a cheque or other negotiable instrument that is forged, fraudulently altered, lost or stolen; (e) the risk of loss of scheme assets arising from the fraudulent use of a computer or from fraudulent instructions given for the transfer of those assets; (f) the risk of loss of scheme assets arising from indemnifying the trustee in accordance with the governing rules of the scheme as permitted by law.(6) For the purpose of subsection (1)(e), the maximum amount is to be determined in respect of the total managed assets of an approved trustee as follows- (a) if the market value of the total managed assets is not more than $1000000-$100000; (b) if the market value of the total managed assets is more than $1000000, the smaller of the following amounts- (i) $500000; (ii) an amount equal to 10 per cent of the market value of the scheme assets.(7) For the purpose of this section- (a) a reference to the total managed assets of an approved trustee is a reference to the aggregate of all scheme assets of all registered schemes administered by the trustee; and (b) a reference to a deductible amount, in relation to a policy of insurance under which the insurer is liable for only the part of a claim that exceeds a specified amount, is a reference to that amount.(8) (Repealed L.N. 223 of 2000) Cap 485A s 9 Qualifications of an independent director A director is qualified as an independent director for the purposes of section 20(2) of the Ordinance and this Regulation only if the director- (a) is not an employee or partner of the applicant, or of an associate of the applicant; and (b) is not a director of an associate of the applicant; and (c) does not hold any shares of the applicant or of any associate of the applicant; and (d) satisfies the Authority that the director has no past or present association (financial or otherwise) with- (i) the applicant (otherwise than as a director or professional adviser); or (ii) any controller of the applicant; or (iii) any associate of the applicant or of any such controller, that could affect the impartiality of the director's independent judgment; and(e) is not a controller (otherwise than by virtue of being a director), close relative, partner or employee of the applicant or of any associate of the applicant; and (f) is not an auditor or actuary of any provident fund scheme administered by the applicant. Cap 485A s 10 What are assets held in Hong Kong for the purposes of this Regulation? Any of the following are assets held in Hong Kong for the purposes of this Regulation- (a) real property, including a leasehold interest in real property, located in Hong Kong; (b) computer equipment, office machinery, furniture, motor vehicles and other equipment located in Hong Kong; (c) deposits (in any currency or monetary unit) held with a Hong Kong branch of an authorized financial institution; (d) debt securities issued in Hong Kong, but only if they are transferable and registrable in a register in Hong Kong and, in the case of debt securities that are in the form of certificates, the certificates are kept in Hong Kong; (e) debt securities issued outside Hong Kong, but only if their certificates are kept in Hong Kong and are transferable by delivery (with or without endorsement); (f) negotiable instruments (including bills of exchange within the meaning of the Bills of Exchange Ordinance (Cap 19)) that are kept in Hong Kong; (g) shares of a company, wherever incorporated and whether or not a company within the meaning of section 2 of the Companies Ordinance (Cap 32) or an oversea company, being shares that- (i) are transferable and registrable only in a register kept in Hong Kong; or (ii) are, in the ordinary course of business, transferable and registrable in a register kept in Hong Kong and their certificates (if any) are kept in Hong Kong;(h) debts that may be enforced only by legal proceedings brought in a Hong Kong court; (i) an interest in an authorized unit trust that is realizable in Hong Kong, but only if the governing law of the trust is the law of Hong Kong. Cap 485A s 11 Prescribed capital adequacy requirements (1) The requirements set out in this section are the prescribed capital requirements that have to be complied with by a company that applies to be or is an approved trustee of a registered scheme. (2) The prescribed capital adequacy requirements are complied with if the company- (a) has a paid up share capital of at least $150000000; and |
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