Page:Mandatory Provident Fund Schemes Ordinance (Cap. 485).pdf/23

A2180 (3) Where a trustee of a registered scheme undertakes any forbidden investment practice as may be specified in guidelines made under subsection (1), the Authority may exercise any of the Authority’s powers under section 33 in respect of the trustee of the registered scheme.

29. Restricted investments

(1) Trustees of registered schemes shall comply with such limitations or prohibitions in respect of the investment of the assets of registered schemes in any restricted investments as may be specified in regulations made under section 46.

(2) In this section “restricted investments” (受限制投資項目) means any investments in respect of an employer (or an associate of an employer) who is employing scheme members comprising—
 * (a) loans to that employer or associate, as the case may be, other than loans made by way of deposits with authorized institutions within the meaning of the Banking Ordinance (Cap. 155);
 * (b) shares or other securities of, or issued by, that employer or associate, as the case may be.

30. Report of auditor

(1) If the Authority reasonably believes that circumstances exist or have existed which may prejudice the interest of any scheme member in relation to a registered scheme, the Authority may by notice in writing served on the approved trustee of that registered scheme require the approved trustee to cause to be prepared by an auditor (approved by the Authority) a report into those circumstances and such other circumstances or matters as may be specified in the notice and to supply the Authority with the report when prepared within such period as may be specified in the notice.

(2) The Authority may publish the report or supply the report to the scheme member referred to in subsection (1).

(3) Any approved trustee who without reasonable excuse fails to comply with a notice in writing referred to in subsection (1) commits an offence and is liable on summary conviction to a fine at level 2.

31. Information and documents

(1) The Authority may by notice in writing served on an approved trustee of a registered scheme require the approved trustee to give to the Authority within such period as may be specified in the notice any information or document in the approved trustee’s possession or under his control as may be specified in the notice and which relates to the registered scheme.