### Employees’ Compensation Insurance Levies Ordinance 《僱員補償保險徵款條例》

6. Resources of the Board and authorized deductions
(1) In relation to any relevant period, the resources of the Board shall consist of—
(a) subject to any deductions that may be made under section 15(5), all amounts of levy (or such amounts equivalent thereto) remitted to and received by the Board during that relevant period; and
(b) all other moneys, including grants, fees, and interest paid to and received by the Board during that relevant period for or in connection with the carrying out of its functions.
(2) All resources received by the Board under subsection (1) shall be deposited with any bank within the meaning of the Banking Ordinance (Cap. 155) nominated by the Board as the Financial Secretary may approve.
(3) The Board may deduct from the resources of the Board referred to in subsection (1)—
(a) any expenses incurred by the Board during the relevant period;
(b) any reimbursement of levy or amount equivalent thereto made under section 20(3) or (4), as the case may be, during that relevant period in accordance with a request by an insurer;
(c) any sums payable by the Board by virtue of or under this Ordinance in respect of any obligation which arose during that relevant period; and
(d) any other sums paid by the Board during that relevant period into a contingency fund established under section 8,
and the balance of those resources (referred to in this Part and Schedule 2 as net resources of the Board (管理局資源淨額)) shall be distributed in accordance with section 7(1).

7. Distribution of net resources of the Board
(1) The Board shall, not later than 3 months after the end of any relevant period, distribute to the bodies specified in the second column of Schedule 2, in the proportions specified in the third column opposite thereto, the net resources of the Board in respect of that relevant period.
(2) The Public Finance Ordinance (Cap. 2) shall not apply to any distribution of the net resources of the Board under subsection (1).

8. Contingency fund
(1) Subject to subsection (2), the Board may establish, pay into and maintain a contingency fund—
(a) to provide for any expenditure of an unexpected or urgent nature; and
(b) to meet any outgoings of a kind specified in section 6(3)(a), (b) or (c) if the resources of the Board received under that section are insufficient to meet those outgoings.
(2) The Board shall not pay into the contingency fund established under this section any sum which would, if added to the fund as then existing, increase the level of the fund beyond—
(a) an amount equal to twice the average monthly expenses of the Board; or
(b) such other greater amount as may be approved by the Secretary from time to time.

### Employees’ Compensation Insurance Levies Ordinance 《僱員補償保險徵款條例》

9. Financial year and estimates
(1) The Board shall fix any period of 12 months to be the financial year of the Board and for the purposes of the payment, receipt and remittance of levy under Part IV, the Board shall divide the financial year as so fixed into such 4 equal periods of 3 months as it may determine.
(2) The Board shall, in each financial year, adopt estimates of income and expenditure in respect of the following financial year and, before a date to be appointed by the Secretary, send them to the Secretary for his approval together with a programme of its activities for that following financial year.
(3) The Secretary may require the resubmission of estimates of income and expenditure or a programme of activities referred to in subsection (2), modified as he may direct.

10. Accounts and statements
The Board shall keep proper books of account, vouchers, receipts and other records in relation to the accounts and shall cause to be prepared for each financial year statements of the accounts of the Board which shall—
(a) include an income and expenditure account and balance sheet; and
(b) be signed by the Chairman.

11. Auditor
(1) The Board shall appoint an auditor, who shall be entitled at any time—
(a) to have access to all books of account, vouchers, receipts and other records of the Board referred in section 10; and
(b) to require such information and explanations,
as he considers necessary to discharge his functions.
(2) The auditor shall, as soon as is practicable and in any case not later than 4 months after the end of each financial year, audit the accounts prepared under section 10 and shall submit a report on the accounts to the Board.

12. Director of Audit’s examination
(1) Notwithstanding the appointment of an auditor under section 11, the Director of Audit may carry out such examination as he thinks fit into the economy, efficiency and effectiveness with which the Board has used its resources in discharging its functions and exercising its powers.
(2) The Director of Audit shall have a right of access at all reasonable times to all such documents in the custody or under the control of the Board as the Director may reasonably require for the purpose of carrying out any examination under subsection (1) and shall be entitled to require from any person holding or accountable for any such document such information and explanations (if any) as are reasonably necessary for that purpose.
(3) The Director of Audit may, as soon as practicable, submit to the Legislative Council the results of any examination carried out by him under subsection (1).

### Employees’ Compensation Insurance Levies Ordinance 《僱員補償保險徵款條例》

13. Annual report
The Board shall, not later than 9 months or such longer period as the Chief Executive may determine after the end of each financial year, submit—
(a) a report on the activities and affairs of the Board for that year;
(b) a copy of its statements of the accounts therefor; and
(c) the auditor’s report on the accounts,
to the Chief Executive who shall cause the same to be laid on the table of the Legislative Council.
(Amended 56 of 2000 s. 3)

14. Imposition of levy
(1) A levy, to be known as the “Employees’ Compensation Insurance Levy”, shall be payable on each premium payable by an insured in respect of any insurance policy issued by an insurer on or after the effective date. (Amended E.R. 5 of 2020)
(2) The Chief Executive in Council may by order published in the Gazette prescribe the rate of the levy and that rate shall come into effect on such date as the Chief Executive in Council may determine. (Amended 56 of 2000 s. 3)
(3) In this section, effective date (生效日期) means 30 days after this section comes into operation*.

Editorial Note:

* In operation on 29 May 1990. 

### Employees’ Compensation Insurance Levies Ordinance 《僱員補償保險徵款條例》

16. Protection of levy in the hands of the insurer
No winding-up proceedings under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) or bankruptcy proceedings under the Bankruptcy Ordinance (Cap. 6) brought in respect of an insurer shall affect any levy (or an amount equivalent thereto) in the hands of that insurer and such levy (or equivalent amount) shall not be treated as part of the assets or property of that insurer for the purposes of such proceedings under those Ordinances.
(Amended 28 of 2012 ss. 912 & 920)