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

21BB. Application for approval and cancellation of approval of constituent funds of registered schemes
(1) The Authority may on application made by an approved trustee of a registered scheme—
(a) approve a constituent fund of the scheme; or
(b) cancel the approval granted in respect of a constituent fund of the scheme.
(2) An application for approval or cancellation must—
(a) be in a form specified or approved by the Authority; and
(b) contain the information, and be accompanied by the documents, specified for the purposes of this section in the guidelines.
(3) An application for approval must include a statement of investment policy that sets out—
(a) the investment objectives of the fund;
(b) the policy as to the kinds of securities and other assets in which the fund may be invested;
(c) the policy as to the balance between different kinds of securities and other assets of the fund;
(d) the policy regarding the acquisition, holding and disposal of financial futures contracts, and of financial option contracts, for the purposes of the fund; and
(e) the risks inherent in implementing the policies referred to in paragraphs (b), (c) and (d), and the return expected to result from giving effect to those policies.
(4) The Authority may, by written notice, require an applicant for approval or cancellation to provide additional information and documents that are reasonably necessary to enable it to determine the application.
(5) If the requirement referred to in subsection (4) is not complied with within a reasonable time specified in the notice, the Authority may reject the application.
(6) Without limiting any other ground on which the Authority may refuse to approve any constituent fund under subsection (1), the Authority may refuse to approve a constituent fund if it is not satisfied that the fund is in scheme members’ interests.
(7) The Authority must not reject an application for approval or cancellation without giving the applicant an opportunity to make representations (either orally or in writing or both) as to why the application should not be rejected.
(8) If the Authority rejects an application for approval or cancellation, it must—
(a) give written notice of the rejection to the applicant; and
(b) include in the notice a statement setting out the reasons for the rejection.
(9) The approval granted in respect of each constituent fund of a registered scheme is taken to be cancelled on the cancellation of the registration of the scheme.
(Added 1 of 2015 s. 7)

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

21C. Regulations with respect to registered schemes
(1) Regulations may be made under section 46 as to the requirements and standards that must be complied with in relation to—
(a) registered schemes; or
(b) applications for the registration of provident fund schemes.
(2) Those regulations may include requirements or standards as to the following matters—
(a) the vesting in scheme members of accrued benefits;
(b) the acceptance by approved trustees of mandatory contributions, voluntary contributions and special contributions under Part 3A in respect of scheme members; (Amended 30 of 2008 s. 5)
(c) the preservation of the accrued benefits of scheme members;
(d) the payment of accrued benefits to or in respect of scheme members;
(e) the transfer of accrued benefits from one scheme to another or from one account in a scheme to another account in the same scheme;
(f) the investment of accrued benefits;
(g) (Repealed 18 of 2008 s. 29)(h) the keeping of records (including accounting records) relating to registered schemes;
(i) the provision of information about the relevant scheme to scheme members;
(j) the preparation and publication of financial and other reports relating to schemes;
(k) the provision of information and documents to the Authority relating to schemes;
(l) the provision of information to other persons in relation to schemes;
(m) the financial viability of schemes (including their funding and solvency).
(Added 4 of 1998 s. 2. Amended E.R. 1 of 2013)

22. Approved trustee to comply with prescribed requirements and standards
The approved trustee of a registered scheme must, as far as reasonably practicable, ensure that the requirements and standards prescribed by the regulations referred to in section 21C are complied with in relation to the scheme.
(Replaced 4 of 1998 s. 2)

22A. Annual statements to be lodged with the Authority
(1) The approved trustee of a registered scheme must lodge with the Authority an annual statement not later than the date prescribed by the regulations for the purposes of this section.
(2) The statement must include or be accompanied by the following—
(a) the name and business address of the approved trustee;
(b) such other information or documents as are prescribed by the regulations for the purposes of this section.
(Added 4 of 1998 s. 2)

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

22B. Annual registration fee to be paid to the Authority
(1) The approved trustee of a registered scheme must pay to the Authority an annual registration fee in respect of the scheme not later than the date on which the annual statement relating to the scheme is required to be lodged with the Authority under section 22A.
(2) The annual registration fee is to be an amount prescribed by the regulations and may be determined by reference to the current value of the assets of a registered scheme. However, the amount must not be fixed at a level that exceeds that which will enable the Authority to recover the costs incurred, or likely to be incurred, in exercising and performing its functions with respect to registered schemes.
(3) The amounts likely to be received by the Authority from other fees payable to it under this Ordinance are to be taken into account when fixing the level of the annual registration fee.
(4) The amount at which the annual registration fee may be fixed is not to be affected by the fact that, in exercising or performing a function for or in relation to a particular person, the fee payable to the Authority by the person may exceed the actual cost to the Authority of exercising or performing the function.
(5) The Authority may, by proceedings brought in a court of competent jurisdiction, recover from the approved trustee of a registered scheme as a debt an annual registration fee that is not paid on time.
(Added 4 of 1998 s. 2)

22C. Approved trustee must not charge certain fees
The approved trustee of a registered scheme must ensure that no fee representing an annual registration fee payable by the trustee under section 22B is charged, whether in whole or in part, to—
(a) the scheme;
(b) a constituent fund of the scheme; or
(c) a member of the scheme.
(Added 16 of 2020 s. 9)