### Protection of Wages on Insolvency Ordinance 《破產欠薪保障條例》

10. Investment of moneys
All moneys of the Fund that are not immediately required by the Board may be—
(a) deposited on fixed term or call deposit or in a savings account in any bank within the meaning of section 2 of the Banking Ordinance (Cap. 155); or (Amended 49 of 1995 s. 53)
(b) with the prior approval of the Financial Secretary, invested in such other investments as the Board thinks fit.

11. Accounts
The Board shall—
(a) keep and maintain such accounts and records of all transactions of the Fund as the Director of Accounting Services may require; and
(b) after the end of each financial year cause to be prepared a statement of the accounts of the Fund which shall include an income and expenditure account and balance sheet and shall be signed by the Chairman.

12. Auditors
(1) The Board shall at the commencement of each financial year appoint auditors, who shall be entitled to have access to all books of account, vouchers and other records kept by the Board and to require such information and explanations as they may think fit.
(2) The auditors shall audit the statement of accounts prepared under section 11 and shall report thereon to the Board.

13. Statements and reports to be laid on table of Legislative Council
(1) The Board shall, within 6 months after the end of each financial year or such further time as the Chief Executive may for any particular year allow, submit to the Chief Executive a report on the activities of the Board for that financial year including copies of the statement of accounts prepared under section 11 and the report made under section 12.
(2) The Chief Executive shall cause the reports and statements received by him under subsection (1) to be laid on the table of the Legislative Council.
(Amended 54 of 2000 s. 3)

14. Costs of administering the Fund
(1) All costs and expenses incurred by the Government in administering the Fund shall be a charge upon general revenue.
(2) The Financial Secretary may direct that a supervision fee to be determined by him, in relation to such period as may be determined by him, shall be charged against the income of the Fund and shall at a time determined by him be paid to him by the Board from the Fund and paid by him into general revenue.

### Protection of Wages on Insolvency Ordinance 《破產欠薪保障條例》

15. Entitlement to apply for ex gratia payment
(1) Subject to this Part, an applicant to whom—
(a) wages are due and unpaid;
(b) wages in lieu of notice are due and unpaid; (Amended 7 of 2012 s. 4)
(c) the liability to be paid a severance payment has arisen and the severance payment is unpaid, whether or not the severance payment is then due; (Amended 7 of 2012 s. 4)
(d) pay for untaken statutory holidays is due and unpaid; or (Added 7 of 2012 s. 4)
(e) pay for untaken annual leave is due and unpaid, (Added 7 of 2012 s. 4)
may apply for an ex gratia payment from the Fund in respect of the wages, wages in lieu of notice, the severance payment, the pay for untaken statutory holidays or the pay for untaken annual leave, as the case may be, or all or any of them. (Replaced 38 of 1989 s. 3. Amended 7 of 2012 s. 4)
(2) An application under subsection (1) (in this Part called an application

### Protection of Wages on Insolvency Ordinance 《破產欠薪保障條例》

17. Review by Board
(1) Any applicant aggrieved by any decision of the Commissioner under section 16 may in writing—
(a) request the Commissioner to give reasons for that decision; and
(b) after being given reasons under paragraph (a), request the Commissioner to refer the application to the Board.
(2) Upon receiving a request from an applicant under subsection (1)(b), the Commissioner shall forward all documents relating to the application to the Chairman of the Board.
(3) The Board may confirm or vary any decision of the Commissioner on an application referred to it under this section or may for those purposes require the Commissioner to make further inquiries relating to the application.

18. Additional power of Commissioner
(1) Notwithstanding that in any particular case a petition referred to in section 16(1)(a)(i) or (b) has not been presented against an employer, the Commissioner may, subject to subsection (2) of that section, make an ex gratia payment under that section in that case if in his opinion— (Amended 41 of 1988 s. 3)
(a) the employer employs less than 20 employees;
(b) sufficient evidence exists to support the presentation of a petition in that case on the ground—
(i) if the employer is a company, that he is unable to pay his debts; or
(ii) if the employer is a person other than a company, that he is liable to have a bankruptcy petition presented against him; and (Amended 37 of 1998 s. 7)
(c) it is unreasonable or uneconomic to present a petition in that case.
(2) Where the Commissioner exercises his discretion under subsection (1) to make payment, he shall give notice in the Gazette stating that, in his opinion, sufficient evidence exists to support the presentation of a petition on the ground—
(a) if the employer is a company, that he is unable to pay his debts; or
(b) if the employer is a person other than a company, that he is liable to have a bankruptcy petition presented against him. (Amended 37 of 1998 s. 7)
(3) Nothing in subsection (2) shall require the Commissioner to give more than one notice in respect of each employer.
(4) No action shall lie against the Commissioner in respect of any notice given under subsection (2).