Page:Mandatory Provident Fund Schemes Ordinance (Cap. 485).pdf/22

A2178 (2) The duties imposed by the regulations referred to in subsection (1) may include the following, namely—
 * (a) the duty to collect or receive statutory minimum contributions;
 * (b) the duty to exercise sufficient and adequate control over the investment of accrued benefits in relation to a registered scheme, including the control and supervision of persons responsible for such investment;
 * (c) the duty to make arrangements for receiving and dealing expeditiously with inquiries and complaints by scheme members in relation to a registered scheme;
 * (d) the duty to keep and retain records in respect of scheme members in relation to a registered scheme;
 * (e) the duty to give to the Authority any information or document in the approved trustee’s possession or under his control as may be required by the Authority;
 * (f) the duty to report events of a significant nature to the Authority in relation to a registered scheme;
 * (g) the duty to keep accounting records which record and explain the transactions and financial position of a registered scheme at a current date;
 * (h) the duty to prepare at regular intervals a balance sheet and statement of account in relation to a registered scheme.

(3) Any duty to which an approved trustee is, was or would normally be subject shall be construed as modified or adapted in so far as is necessary to accord with the regulations referred to in subsection (1).

28. Authority may publish guidelines on forbidden investment practices in relation to registered schemes

(1) The Authority may, after consultation with the Financial Secretary, make and publish in the Gazette or otherwise guidelines, for the guidance of the trustees of registered schemes, specifying which investment practices (“forbidden investment practices”) shall not be undertaken by approved trustees of registered schemes because, in the opinion of the Authority, the forbidden investment practices may or are likely to prejudice the financial soundness of those registered schemes.

(2) For the purposes of subsection (1), the guidelines made under that subsection may be expressed to apply to all registered schemes or to a class of registered schemes specified therein.