Page:Mandatory Provident Fund Schemes Ordinance (Cap. 485).pdf/18

A2170 :(c) where regulations specify the requirements referred to in subsection (6)(b) as to capital adequacy, financial resources or the particular qualifications of an applicant as an approved trustee, the approved trustee is, or has become, unable to meet those requirements.

(9) The regulations referred to in subsection (6)(b) may, in addition to the requirements referred to in that subsection, include requirements relating to the following, namely—
 * (a) in the case of an application for the approval of a corporate trustee (“company”) as an approved trustee—
 * (i) the membership of the company;
 * (ii) the objects of the company as set out in its memorandum and articles of association or other instruments (however described) to the like effect;
 * (iii) the suitability of the company's directors (however described), regard being paid to their reputation, character, knowledge, qualifications and experience;
 * (iv) if the place of incorporation of that company is other than Hong Kong, that place of incorporation, regard being paid to the relevant laws of that place of incorporation, including any laws governing companies and trusts;
 * (b) in the case of an application for approval in respect of a trustee, other than a corporate trustee, the suitability of the applicant to be an approved trustee, regard being paid to his reputation, character, knowledge, qualifications and experience;
 * (c) the capital adequacy and financial soundness of the approved trustee including, in the case of individuals, performance guarantees;
 * (d) the reporting of information to the Authority in respect of the business and other affairs (if any) of the approved trustee.

21. Registered schemes

(1) An application may be made by an approved trustee or by an applicant seeking approval as such to the Authority for the registration of a provident fund scheme as a registered scheme.

(2) An application for such registration shall be in such form and contain such particulars as may be prescribed in rules made by the Authority under section 47.

(3) Upon receipt of an application under this section the Authority may require the applicant to furnish such additional information and other documents as the Authority may reasonably require for the purpose of determining the application.