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CAP 485I MANDATORY PROVIDENT FUND SCHEMES (WINDING UP) RULES


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  (Cap 485, section 34A) [1 December 2000] (L.N. 343 of 2000) Cap 485I rule 1 (Omitted as spent) (Omitted as spent) rule 2 Definition In these Rules, "winding up application" (清盘申请) means an application mentioned in section 34A(1) of the Ordinance. Cap 485I rule 3 Rules of High Court apply to winding up applications The Rules of the High Court (Cap 4 sub. leg.) apply to a winding up application to the extent that those Rules are not inconsistent with these Rules. Cap 485I rule 4 Requirements as to making of winding up applications (1) A winding up application must be made by originating summons. (2) A winding up application must be accompanied by- (a) an affidavit of a designated person as defined in section 6F(2) of the Ordinance; and (b) a winding up proposal.(3) The affidavit referred to in subrule (2)(a) must- (a) state the grounds for making the winding up application; and (b) verify the facts on which the application is based.(4) The winding up proposal referred to in subrule (2)(b)- (a) must specify whether or not there are any scheme assets in the registered scheme to which the application relates and, if there are, the proposed arrangements for transferring, realizing or disposing of those assets; (b) must specify whether or not there are any remaining scheme members in that scheme and, if there are, the proposed arrangements for transferring existing accrued benefits of those members to another registered scheme and for making future contributions; and (c) may contain proposals on other aspects of the winding up, including arrangements in a case where the Court does not appoint a liquidator. Cap 485I rule 5 Authority to apply to Court for directions As soon as practicable after issuing an originating summons for a winding up application, the Authority must apply to the Court for directions, including, in particular, directions as to- (a) the filing of further evidence; (b) the service of process and notification of proceedings; and (c) the advertisement of the winding up application. Cap 485I rule 6 Court may order winding up of registered schemes On the hearing of a winding up application, the Court may, if satisfied that the registered scheme concerned ought to be wound up, order that- (a) the scheme be wound up in accordance with the winding up proposal accompanying the application; (b) the proposal be modified in a manner specified by the Court and the scheme be wound up in accordance with the proposal so modified; or (c) the scheme be wound up in any other way specified by the Court.

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