Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 88

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 88
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 Kong on December 14, 2015 prohibits and deters
undertakings in all sectors from adopting anti-competitive conduct which has the object or effect of preventing, restricting or distorting
competition in Hong Kong. The key prohibitions include (i) prohibition of agreements between businesses which have the object or effect
of preventing, restricting or distorting competition in Hong Kong; and (ii) prohibiting companies with a substantial degree of market
power from abusing their power by engaging in conduct that has the object or effect of preventing, restricting or distorting competition
in Hong Kong. The penalties for breaches of the Competition Ordinance include, but are not limited to, financial penalties of up to 10%
of the total gross revenues obtained in Hong Kong for each year of infringement, up to a maximum of three years in which the contravention
occurs.

  53  

Hong Kong Laws and Regulations relating to Employment

Pursuant to Employment Ordinance(Chapter 57
of the Laws of Hong Kong) (“ EO”), which came into full effect in Hong Kong on September 27, 1968, all employees covered by
the EO are entitled to basic protection under the EO including but not limited to payment of wages, restrictions on wages deductions and
the granting of statutory holidays.

Pursuant to Mandatory Provident Fund Schemes Ordinance(Chapter 485 of the Laws of Hong Kong) (“ MPFSO”), which came into full effect in Hong Kong on December 1, 2000, every employer
must take all practicable steps to ensure that the employee becomes a member of a Mandatory Provident Fund (MPF) scheme. An employer who
fails to comply with such a requirement may face a fine and imprisonment. The MPFSO provides that an employer who is employing a relevant
employee must, for each contribution period, from the employer’s own funds, contribute to the relevant MPF scheme the amount determined
in accordance with the MPFSO.

Pursuant toEmployees’ Compensation Ordinance(Chapter 282 of the Laws of Hong Kong) (“ ECO”), which came into full effect in Hong Kong on December 1, 1953, all employers
are required to take out insurance policies to cover their liabilities under the ECO and at common law for injuries at work in respect
of all of their employees. An employer failing to do so may be liable to a fine and imprisonment.

Pursuant to Minimum Wage Ordinance(Chapter
608 of the Laws of Hong