【法规名称】
【法规编号】 79945 什么是编号？
【正 文】
第10页 CAP 426 OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE
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[接上页] Cap 426 s 17 Waiver and modification of registration requirements (1) Where an application for the registration of an occupational retirement scheme which is a participating scheme of a pooling agreement is made under section 15 in anticipation of the cessation of the effect of the scheme's original registration under section 23(5), the Registrar may as regards the scheme waive or modify wholly or partly any requirement of any provision of this Ordinance relating to application for registration if he is satisfied that- (a) upon the registration being applied for the scheme will become a participating scheme of another pooling agreement; (b) the terms and nature of the 2 pooling agreements are similar; and (c) such waiver or modification will not prejudice the interests of the members of the scheme.(2) On making any waiver or modification under subsection (1), the Registrar may impose such conditions as he thinks fit. (Enacted 1992) Cap 426 s 18 Registration (1) Subject to subsection (3), where the Registrar receives an application under section 15 for the registration of an occupational retirement scheme and is satisfied- (a) subject to section 17 as regards the application and the scheme, that the requirements of section 15 have been complied with; (b) that the requirement of section 25(2) (in the case of an existing scheme governed by a trust) has been complied with in relation to the scheme as though it was a registered scheme or (in the case of a proposed scheme which will be governed by a trust) will be complied with in relation to the scheme; (c) subject to subsection (2), that the terms of the scheme ensure that in the event that the scheme was terminated or otherwise wound up the benefits payable to every member of the scheme under such terms would be paid directly to such member instead of being paid through the relevant employer of the scheme or his agent; and (d) (where the scheme is or is stated to be an offshore scheme) that the terms of the scheme provide that, in the event that- (i) the registration of the scheme under this Ordinance is cancelled; and (ii) (A) the period within which an appeal against such cancellation may be made has expired and no such appeal has been made; or (B) an appeal is duly made against such cancellation and has been dismissed by the Appeal Board and all proceedings (if any) incidental to such appeal and dismissal have been finally disposed of,any vested benefit which every member of the scheme who is the holder of an identity card within the meaning of the Registration of Persons Ordinance (Cap 177) is entitled to receive or which any other person is entitled to receive in respect of such member under the terms of the scheme shall thereupon become payable as if the condition precedent (if any) of such entitlement had been satisfied,the Registrar shall allow the application. (2) Where the terms of the scheme allow the administrator of the scheme to withhold any part of any payment due to be made under the terms of the scheme to a member of the scheme for the purpose of effecting repayment of a debt owed by that member to the relevant employer of the scheme upon the production of a written acknowledgment of such debt made by that member, the terms of the scheme shall not solely by this reason be regarded as not having the effect provided for in subsection (1)(c). (3) Where the Registrar receives an application under section 15 for the registration of an occupational retirement scheme which is or is stated to be an offshore scheme and having had regard to all information available to him is satisfied that- (a) the scheme- (i) (in the case of an existing scheme) is not governed by a trust and is not the subject of or regulated by an insurance arrangement; (ii) (in the case of a proposed scheme) will not be governed by a trust and will not be the subject of or regulated by an insurance arrangement; or(b) the scheme (where it is an existing scheme) is or (where it is a proposed scheme) will be governed by a trust which does not or (where appropriate) will not require compliance with the requirement of section 25(2) in relation to the scheme,the Registrar may allow the application if the conditions prescribed in subsection (4) are fulfilled as regards the scheme. (4) The conditions referred to in subsection (3) are- (a) as regards the application the requirements of section 15 have been complied with to the satisfaction of the Registrar; (b) the Registrar- (i) is satisfied that the scheme's funding arrangements provide that the assets of the scheme are kept separate and distinct from and do not form part of the assets of the relevant employer of the scheme or the assets of the administrator of the scheme which are not vested in him in his capacity as such; or (ii) is not satisfied in the manner described in subparagraph (i) but is satisfied that to keep the assets of the scheme separate and distinct from the assets of the relevant employer or the assets of the administrator of the scheme which are not vested in him in his capacity as such is not possible or reasonably practicable;(c) (in the case of a scheme referred to in subsection (3)(b)) the Registrar is satisfied that because of the proper law of the trust governing the scheme, compliance with the requirement of section 25(2) is not possible or reasonably practicable; and |
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