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

34ZL. Conduct requirements for registered intermediary
(1) When carrying on a regulated activity, a principal intermediary or a subsidiary intermediary attached to a principal intermediary—
(a) must act honestly, fairly, in the best interests of the client, and with integrity;
(b) must exercise a level of care, skill and diligence that may reasonably be expected of a prudent person who is carrying on the regulated activity; 
(c) may advise only on matters for which the principal or subsidiary intermediary (as the case may be) is competent to advise;
(d) must have such regard to the client’s particular circumstances as is necessary for ensuring that the regulated activity is appropriate to the client;
(e) must make such disclosure of information to the client as is necessary for the client to be sufficiently informed for the purpose of making any material decision;
(f) must use best endeavours to avoid a conflict between the interests of the principal or subsidiary intermediary (as the case may be) and the interests of the client and, in the case of such a conflict, must disclose the conflict to the client;
(g) must ensure that client assets are promptly and properly accounted for; and
(h) must comply with other requirements that are prescribed by the rules.
(2) A principal intermediary must keep such records of activities carried out by the principal intermediary, and of those carried out by every subsidiary intermediary attached to the principal intermediary, as may be necessary for enabling the frontline regulator of the principal intermediary to ascertain—
(a) whether or not the principal intermediary has complied with subsection (1); and
(b) whether or not every subsidiary intermediary attached to the principal intermediary has complied with subsection (1).
(3) A principal intermediary—
(a) must establish and maintain proper controls and procedures for securing compliance by the principal intermediary, and by each subsidiary intermediary attached to the principal intermediary, with this Part;
(b) must use the principal intermediary’s best endeavours to secure observance by subsidiary intermediaries attached to the principal intermediary of the controls and procedures established under paragraph (a);
(c) must ensure that the responsible officer has sufficient authority within the principal intermediary for carrying out specified responsibilities in relation to the principal intermediary; and
(d) must provide the responsible officer with sufficient resources and support for carrying out specified responsibilities in relation to the principal intermediary.
(4) In this section, a reference to a client of a principal intermediary, or a subsidiary intermediary attached to a principal intermediary, when carrying on a regulated activity, is a reference to—
(a) a person whom the principal or subsidiary intermediary invites or induces, or attempts to invite or induce, to make a material decision; or
(b) a person to whom the principal or subsidiary intermediary gives regulated advice.

34ZM. Conduct requirements for responsible officer
A responsible officer of a principal intermediary must use his or her best endeavours to carry out specified responsibilities in relation to the principal intermediary.

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

34ZN. Annual fees
(1) A person who is a registered intermediary must pay to the Authority for every chargeable period an annual fee of the amount prescribed by the regulations. The fee for a chargeable period must be paid within 1 month after the first day of the chargeable period.
(2) If a person contravenes subsection (1), the person must pay to the Authority an additional fee of an amount equal to 10% of the annual fee that was unpaid on the date of the contravention.
(3) The Authority may suspend the registration of a person as a registered intermediary for a period, or until the occurrence of an event, determined by the Authority if the person fails to pay to the Authority the annual fee for a chargeable period to which subsection (1) applies, or any additional fee payable under subsection (2) in relation to that annual fee, within 3 months after the first day of the chargeable period.
(4) The power under subsection (3) is not exercisable unless the Authority has, by notice in writing given to the registered intermediary at least 15 working days before the suspension is to take effect, informed the registered intermediary of the contents of this section.
(5) Where the Authority suspends the registration of a person as a registered intermediary under subsection (3) for failing to pay an annual fee or additional fee, the Authority may revoke that registration if the person fails to pay to the Authority the annual fee or additional fee—
(a) within 30 days after the suspension takes effect; or
(b) within any longer period that the Authority may specify in a notice in writing given to the registered intermediary.
(5A) Subsection (5B) applies if—
(a) a person (Party A

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

34ZO. Annual return
(1) A person who is a registered intermediary must deliver to the Authority for every reporting period a return in the specified form. The return for a reporting period must be delivered within 1 month after the last day of the reporting period.
(2) Subsection (1) applies to a reporting period that begins on or after the date of the registration of the person as such registered intermediary.
(3) The Authority may suspend the registration of the person as a registered intermediary for a period, or until the occurrence of an event, determined by the Authority if the person fails to deliver to the Authority the return for a reporting period to which subsection (1) applies within 3 months after the last day of the reporting period.
(4) The power under subsection (3) is not exercisable unless the Authority has, by notice in writing given to the registered intermediary at least 15 working days before the suspension is to take effect, informed the registered intermediary of the contents of this section.
(5) Where the Authority suspends the registration of a person as a registered intermediary under subsection (3) for failing to deliver a return, the Authority may revoke that registration if the person has not delivered to the Authority the return—
(a) within 30 days after the suspension takes effect; or
(b) within any longer period that the Authority may specify in a notice in writing given to the registered intermediary.
(5A) Subsection (5B) applies if—
(a) a person (Party A