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An Ordinance to provide for the establishment of non-governmental mandatory provident fund schemes for the purpose of funding benefits on retirement, to provide for contributions to such schemes, to provide for the registration of such schemes, to provide for a regulatory regime in respect thereof, to provide for the creation of a Mandatory Provident Fund Schemes Authority to oversee the administration and management of registered schemes, to exempt certain classes of persons from contributing to registered schemes, to provide for the approval of persons (other than public officers or statutory corporations) as trustees of registered schemes, to provide for the control and regulation of approved trustees, and to make consequential amendments to other Ordinances including pension related Ordinances, and for connected purposes. Note: This Ordinance was originally enacted as Ord. No. 80 of 1995 and had been amended, before its commencement, by Ord. No. 4 of 1998 and other legislation. The commencement dates of all provisions contained in the consolidated version of the original Ordindance as amended by Ord. No. 4 of 1998 are as follows - [Sections 1 to 3, 6 to 6H and 6R to 6T, and Schedules 1A and 1B] 24 July 1998 L.N. 292 & 293 of 1998 Sections 6I, 6K to 6Q, 17, 46 to 47A and 48 12 March 1999 L.N. 68 & 70 of 1999 Sections 6J, 20 to 22B, 24 to 33B, 35 to 43A, 43D to 45G and 47B, and Schedules 5 and 5A, Schedule 6 (except paragraph 14) and Schedule 8 3 August 1999 L.N. 68 & 70 of 1999 Sections 5, 5A and 6U to 6W, and paragraph 14 of Schedule 6 3 January 2000 L.N. 68 & 70 of 1999 Sections 4, 7 to 16, 17A to 19, 23, 34 to 34C, 43B, 43C and 49, and Schedules 1, 2 to 4, 7 and 9 1 December 2000 L.N. 119 & 120 of 2000] (Originally 80 of 1995) Cap 485 s 1 Short title PART I PRELIMINARY (1) This Ordinance may be cited as the Mandatory Provident Fund Schemes Ordinance. (2) (Omitted as spent) Cap 485 s 2 Interpretation Expanded Cross Reference: 33, 33A, 33B (1) In this Ordinance, unless the context otherwise requires- (Amended 4 of 1998 s. 2) "accrued benefits" (累算权益), in relation to a registered scheme, means the amount of each scheme member's beneficial interest in the registered scheme at any time, including sums derived from the contributions made by or in respect of that scheme member, together with the income or profits arising from any investments thereof, but taking into account any losses in respect thereof; (Amended 2 of 2002 s. 2) "administer" (管理) includes manage and maintain; (Added 4 of 1998 s. 2) "Advisory Committee" (谘询委员会) means the Mandatory Provident Fund Schemes Advisory Committee established by section 6R; (Added 4 of 1998 s. 2) "Appeal Board" (上诉委员会) means the Mandatory Provident Fund Schemes Appeal Board constituted under section 35; "apprentice" (学徒) has the same meaning as in the Apprenticeship Ordinance (Cap 47); "approved trustee" (核准受讬人) means a company or a natural person approved by the Authority as a trustee in accordance with section 20 and, when used in relation to a registered scheme that is administered by 2 or more approved trustees, means (except in sections 33 to 33B) the trustees jointly and severally; (Replaced 4 of 1998 s. 2) "associate" (有联系者), in relation to a company or other body corporate, means a person specified in Schedule 8; "associated company" (有联系公司) has, except in section 12A, the meaning given by Part 3 of Schedule 8; (Added 4 of 1998 s. 2) "Authority" (管理局) means the Mandatory Provident Fund Schemes Authority established by section 6; (Replaced 4 of 1998 s. 2) "authorized person" (获授权人) means a person appointed or authorized by the Authority in writing to exercise or perform functions, or specified functions, under or for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "casual employee" (临时雇员) means a relevant employee who is declared by an order made under subsection (2) to be a casual employee for the purposes of this Ordinance; (Added 4 of 1998 s. 2) "chief executive officer" (行政总裁), in relation to a company, means the person who, either alone or with others, is immediately responsible to the directors of the company for the conduct of the whole business of the company, and includes a person holding office as managing director of the company; (Added 4 of 1998 s. 2) "close relative" (近亲), in relation to a natural person, means- (a) a spouse, former spouse, parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the person; or (b) a parent, step-parent, child, step-child, grand parent, grand child, brother, half-brother, sister or half-sister of the spouse or a former spouse of the person; (Added 4 of 1998 s. 2)"company" (公司) (a) means- (i) a company within the meaning of the Companies Ordinance (Cap 32); or (ii) an oversea company;(b) includes a corporation in the case of- |