Page:Mandatory Provident Fund Schemes Ordinance (Cap. 485).pdf/8

A2150 (5) In this section, “limited period” (有限期間) means a period determined in accordance with the rules referred to in subsection (4).

5. Exemptions in respect of occupational retirement schemes

(1) Any person to whom this subsection applies who is a member of an occupational retirement scheme within the meaning of the relevant Ordinance (and whether that scheme is a defined contribution scheme or a defined benefit scheme registered under the provisions of that Ordinance or is the subject of an exemption certificate issued under section 7(1) thereof), and the employer of such a person, shall be exempt from all or part of the provisions of this Ordinance in accordance with regulations referred to in subsection (2).

(2) Subsection (1) shall apply to a member of an occupational retirement scheme referred to in that subsection who satisfies the requirement of any regulations made for that purpose under section 46 and those regulations may include provisions specifying the circumstances in which all or part of the provisions of this Ordinance shall apply or not apply, as the case may be, to that member, or any person within a class of members so specified, or to his employer. PART II '''6. Establishment of Mandatory Provident Fund Schemes Authority'''

(1) Subject to subsection (5), the Governor may appoint a public officer other than the Financial Secretary, or any other person, as the Mandatory Provident Fund Schemes Authority for the purposes of this Ordinance.

(2) The functions of the Authority are—
 * (a) to be responsible for ensuring compliance with the provisions of this Ordinance;
 * (b) to register provident fund schemes as registered schemes;
 * (c) to approve trustees;
 * (d) to regulate, and to be responsible for the prudential supervision of, approved trustees;
 * (e) to make rules in relation to the payment of statutory minimum contributions and the administration, management, maintenance and regulation of registered schemes in respect of such contributions; and