These rules let a scheme administrator call a members’ meeting to waive the audit requirement, and set the notice, proxy, quorum, and resolution rules for that meeting.
Occupational Retirement Schemes (Exemption from Audit) Rules(Cap. 426, section 73)(Enacting provision omitted—E.R. 6 of 2019)[15 October 1993] L.N. 407 of 1993(Format changes—E.R. 6 of 2019) 1. (Omitted as spent—E.R. 6 of 2019) 2. Meeting to waive audit requirement The administrator of a participating scheme of a pooling agreement may, or on the written request of 1 member shall, cause a meeting of the scheme members to be held for the purpose of passing a resolution that section 20(5) of the Ordinance applies to the scheme in relation to a financial year of the scheme specified in that resolution. 3. Notice of meeting (1) Notice of the meeting shall be given by the administrator to each scheme member in writing not less than 14 days before the date of the meeting and shall specify—(a) the place, date and time of the meeting; and(b) the resolution proposed to be discussed at the meeting.(2) The notice shall be given to the member either personally or by sending it by post to his last known residential address.(3) The notice shall have attached to it a proxy form, in the form set forth in the Schedule, by which any scheme member who is unable to attend the meeting in person may appoint another person to attend the meeting and vote on his behalf.(4) A proxy form shall be signed by the scheme member who is unable to attend the meeting and shall be delivered to the administrator not less than 3 days before the date of the meeting.(5) A scheme member may cancel a proxy by attending and voting in person at the meeting. 4. Quorum (1) The quorum for a meeting shall be—(a) 10% of the members of the scheme; or(b) 5 members of the scheme,whichever is greater, attending the meeting in person except that, if a scheme has fewer than 5 members, a quorum shall be all the members of the scheme personally present.(2) If a quorum is not present at the meeting, the meeting shall be adjourned to the same day the following week and, if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting, the members present shall constitute a quorum. 5. Chairman and secretary (1) Any member elected by the members present at a meeting may be chairman thereof.(2) The administrator shall act as secretary of the meeting and shall keep minutes of the proceedings of the meeting. 6. Copy of resolution to designated person (1) If the resolution is passed, the administrator shall certify a copy of it to be a true copy and furnish it to the designated person within 14 days of the meeting, for onward submission to the Registrar.(2) A resolution is passed if a majority of the persons who are, for the time being, members of the scheme vote in favour of it in person or by proxy. Schedule [s. 3]Proxy Form for Meeting to Pass a Resolution that Section 20(5) of the Occupational Retirement Schemes Ordinance (Cap. 426) Applies to the Scheme Name of scheme: I, ., Hong Kong Identity Card No. ., (name of member) being a member of the above scheme, hereby appoint ., (name of proxy) Hong Kong Identity Card No. ., as my proxy to vote on my behalf at the meeting of the scheme to be held on the . day of . 19 . and at any adjournment thereof. 2. I hereby instruct my proxy to vote *in favour of/against the proposed resolution. Date: Signed: * Delete whichever is inapplicable. NOTE: If you do not complete paragraph 2 by deleting whichever is inapplicable, the proxy will vote as he thinks fit.