aball
be treated upon admission to the Scheme having completed such number of years of continuous Superannuable Service (including fractions thereof) with the University as the Council, having considered \ the advice of the Actuary, shall deen fair and equi-
table.
or
12.3 Where any Member ceases to be employed by the University and takes up employment with any other University or place of education outside Hong Kong and ia consequence thereof becomes a Member of any one more of the, Association, Funda or Superannuation Schemes which are referred to in Clause 12.2 above he shall be entitled to apply to the Council to transfer all or any part of his Guaranteed Benefit to the trustee or trustues of such other provident or Super- annuation Scheme
the Council may, and
subject to clause 10 above, comply with such request.
takes
TERMINATION OF THE SCHENE
14.1 In the event of the Council at any time hereafter deciding to terminate the Scheme it shall give to each of the Kembers six calendar months' notice in writing to that effect and upon the expiration of such notice the Scheme shall deteraine,
to
provi-
subsist
14.2 On the date of termination, Subscriptions and Contributions shall forthwith cease, but the sions herein contained for the payment to Members of their Guaranteed Benefits shall continue and take effect upon the termination of each Member's service with the University provided however that in such circumstances the Guaranteed Benefit payable to a Member shall be
amount equal to the Guaranteed Benefit calculated an if his membership had ceased at the date that the Scheme is terminated.
the
14.3 In addition, in the event of the death of Member after the termination of the Scheme the Council shall continue to be entitled to exercise its right of election conferred by Clause 7.3(a) above that the provisions relating to Benefit contained in Clause 7.3(b) above apply in such circumstances.
12.4 Where any Member
to be employed by University and
up employment with RBY other Daiversity or place of education or company, partner- ship or other entity in Hong Kong and, in accordance with the conditions of service with his new employer, becomes
• member of any other retirement benefit scheme OT schemes which is or are approved by the Commissioner be aball be entitled to apply to the Council to transfer all or any part of his Guaranteed Benefit to the trustee or trustees of such other approved retirement scheme or schemes and the Council may, subject to clause 10 above, comply with such request.
12.5 The particulara of any transfer pursuant to this Regulation shall be notified to the Commissioner,
COST OF ADNINISTRATION OF THE SCHENE
13. The University shall bear all costs and expenses of or incidental to the administration of the Scheme including all costs and expenses incurred by the Uni- versity in any arbitration held under "the provisions of Clause 15 and also such costs and expenses of any such arbitration
may be ordered by the Arbi- trator(s) to be paid by the University.
save only a Supplementary Death
shall
not
the Scheme,
14.4 Hotwithstanding the termination of pansion annuities which are payable pursuant to Clause 7.8 above shall continue to be paid from the Scheme Fund until their respective expiry date.
DISPUTES
15.
to
In the event of any question arising in respect of the construction, operation, validity or interpre- tation of these Regulations or the applications of these Regulations not
the being resolved
satis- faction of the Nambers or the Council the question shall be referred to Arbitration in Hong Kong. such circumstancer each party to the dispute shall entitled
OVE to appoint their
arbitrator and the arbitratore shall collectively nomina umpire and