### Mandatory Provident Fund Schemes Ordinance 《強制性公積金計劃條例》

19T. Interpretation
(1) In this Division and Schedules 13, 14, 15 and 16—
corresponding period (相應期間), in relation to a constituent fund of a registered scheme, means the financial period of the constituent fund that coincides (whether wholly or partly) with a financial period of the registered scheme;
FER means the fund expense ratio;
financial period (財政期), in relation to a registered scheme, has the same meaning as in section 79 of the Mandatory Provident Fund Schemes (General) Regulation (Cap. 485 sub. leg. A);
inception date (成立日), in relation to a constituent fund of a registered scheme, means the first day on which the constituent fund is made available to members of the registered scheme for investment purpose;
new constituent fund (新成分基金) means a constituent fund of a registered scheme the inception date of which is on or after the date on which section 80 of the 2021 Amendment Ordinance comes into operation;
reference rate (參考行政費率)—see section 19X;
reference ratio (參考開支比率)—see section 19W;
relevant rate of administration fee (相關行政費率) means—(a) the relevant rate of administration fee determined under section 2 or 4 of Schedule 14 for a constituent fund of a registered scheme; or
(b) the relevant rate of administration fee determined under section 19ZB for a constituent fund of a registered scheme;

second related financial period (第二相關財政期), in relation to a constituent fund of a registered scheme, means the financial period of the registered scheme that is immediately after the financial period covering the inception date of the constituent fund.
(2) A constituent fund of a registered scheme begins to exist on the inception date.
(3) If the units of a constituent fund of a registered scheme are divided into more than one class (fund class

19U. Approved trustee may charge fee for use of electronic MPF system and certain other services but must not charge more than amount payable to system operator
(1) The approved trustee of a registered scheme may charge to a constituent fund of a registered scheme any amount payable, in relation to the constituent fund, by the approved trustee to the system operator of an electronic MPF system for the use of the system (use

### Mandatory Provident Fund Schemes Ordinance 《強制性公積金計劃條例》

19V. Approved trustee’s duty to submit reference ratio and relevant rate of administration fee for constituent fund other than capital preservation fund
(1) This section applies to a constituent fund of a registered scheme that is not a capital preservation fund.
(2) The approved trustee of the registered scheme must, before the end of the specified 12-month period—
(a) determine—
(i) the reference ratio for the constituent fund; and
(ii) the relevant rate of administration fee for the fund;
(b) cause the reference ratio so determined to be audited by the auditor of the registered scheme; and
(c) submit to the Authority—
(i) the audited reference ratio; and
(ii) the relevant rate of administration fee.
(3) The approved trustee of a registered scheme is not required to comply with subsection (2)(a)(ii) and (c)(ii) if the relevant rate of administration fee is determined under section 19ZB for the constituent fund.
(4) In this section—
specified 12-month period (指明12個月期間)—(a) in relation to a constituent fund of a registered scheme to which section 19W(2) applies, means the 12-month period that begins immediately after 31 December 2021; and
(b) in relation to a constituent fund of a registered scheme to which section 19W(3) applies—
(i) if the constituent fund is not a new constituent fund, means whichever of the following periods ends later—
(A) the 12-month period that begins immediately after 31 December 2021;
(B) the 12-month period that begins immediately after the second related financial period; and
(ii) if the constituent fund is a new constituent fund, means the 12-month period that begins immediately after the second related financial period.

19W. How to determine reference ratio for constituent fund
(1) This section applies for the purpose of determining the reference ratio for a constituent fund of a registered scheme under section 19V.
(2) If—
(a) a financial period of a constituent fund of a registered scheme ends before 31 December 2020 (specified date

### Mandatory Provident Fund Schemes Ordinance 《強制性公積金計劃條例》

19X. How to determine reference rate for constituent fund
(1) This section applies for the purpose of determining the reference rate for a constituent fund of a registered scheme.
(2) For a constituent fund of a registered scheme to which section 19W(2) applies, the reference rate for the constituent fund is the relevant rate of administration fee determined under Part 1 of Schedule 14 for the fund.
(3) For a constituent fund of a registered scheme to which section 19W(3) applies, the reference rate for the constituent fund is the relevant rate of administration fee determined under Part 2 of Schedule 14 for the fund.
(4) Despite subsections (2) and (3), if the relevant rate of administration fee for a constituent fund of a registered scheme is determined under section 19ZB, the reference rate for the constituent fund is the rate determined under that section for the fund.

### Mandatory Provident Fund Schemes Ordinance 《強制性公積金計劃條例》

19Y. Approved trustee’s duty to determine FER for relevant corresponding period of constituent fund
(1) This section applies to a constituent fund of a registered scheme.
(2) The approved trustee of the registered scheme must, before the deadline for each prescribed period—
(a) determine, in accordance with Schedule 13, the FER for the relevant corresponding period of the constituent fund;
(b) cause the FER so determined to be audited by the auditor of the registered scheme; and
(c) submit the audited FER to the Authority.
(3) In this section—
deadline (最後期限), in relation to a prescribed period relating to a constituent fund, means the end of the 6-month period that begins immediately after the prescribed period;
material day (關鍵日)—(a) in relation to a constituent fund of a registered scheme that is not a new constituent fund, means the day appointed under section 19ZE(1)(b) for the constituent fund; and
(b) in relation to a new constituent fund, means the day immediately after the second related financial period;

prescribed period (訂明期間), in relation to a constituent fund of a registered scheme, means each of the following periods during which the constituent fund of the registered scheme is in existence (whether at all times or any time)—(a) the period that begins on the material day and ends on the last day of the financial period of the registered scheme that covers the material day;
(b) a financial period of the registered scheme that begins after the material day;

relevant corresponding period (相關相應期間), in relation to a prescribed period relating to a constituent fund of a registered scheme—(a) if the prescribed period is a financial period of the registered scheme, means the corresponding period, or the part of the corresponding period, of the constituent fund that coincides with the financial period of the registered scheme; and
(b) in any other case, means the corresponding period, or the part of the corresponding period, of the constituent fund that coincides with the part of the scheme’s financial period that is the prescribed period.

19Z. Approved trustee’s duty to determine permitted percentage for constituent fund other than capital preservation fund
(1) This section applies to a constituent fund of a registered scheme that is not a capital preservation fund.
(2) The approved trustee of the registered scheme must, before the deadline for each prescribed period—
(a) determine, in accordance with Schedule 15, the percentage permitted for the relevant corresponding period of the constituent fund; and
(b) submit the percentage so determined to the Authority.
(3) The submission under subsection (2)(b) must also specify—
(a) whether the FER for the relevant corresponding period of the constituent fund (relevant FER