Page:Education Ordinance 1971 (Cap. 279).pdf/48

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(4) The Director may by notice in writing to the supervisor of any school waive wholly or partly the requirements of any regulation in respect of the school.

85. (1) For the purpose of maintaining any provident fund (whether established before or after the commencement of this Ordinance) for the benefit of teachers employed by schools to which grants in aid or subsidies are made by the Government, the Governor in Council may make rules providing for—
 * (a) the objects and method of control and management and investment of such fund;
 * (b) the persons or classes of persons who shall be eligible for membership of such fund, and the persons or classes of persons who shall be compulsory contributors to such fund;
 * (c) contributions to such fund, and the method of payment;
 * (d) the method of dealing with any contribution which may be made by the Government to such fund;
 * (e) the constitution of a reserve fund to meet fluctuations in the value of investments, and for the allocation to a reserve fund of any investment income of the provident fund;
 * (f) the method of, conditions precedent for, and authority for withdrawals and benefits, and the permissible amount of withdrawals and benefits;
 * (g) the appointment of any trustees who may be considered necessary, and the powers and duties of the trustees; and
 * (h) generally for the purpose of the maintenance of such fund.

(2) Such sums as may be necessary to meet the contributions payable by the Government to any provident fund in accordance with rules made under subsection (1) shall be met from moneys provided by the Legislative Council.

(3) Subject to any rules made under subsection (1), no contribution or donation to or dividend or interest on a dividend from a provident fund shall be assignable or transferable or liable to be attached, sequestered or levied upon, for or in respect of any debt or claim whatsoever.

(4) On the death of a contributor to any provident fund, the first five thousand dollars payable out of such contributor’s account in respect of his death shall be deemed to be an amount in respect of which the Accountant General, on being satisfied