lower to make rules for provident fund for teachers in grant schools. Third
Schedule.
(3) Any regulation made under this section may provide that acts shall only be performed if the Director consents thereto and may prohibit the performance of acts without the consent of the Director and may authorize the Director to require acts to be performed or to prohibit their performance and may require acts to be done to the satisfaction of the Director or with the approval of the Director.
(4) Any regulation may provide that a contravention of any regulation shall be an offence and prescribe a penalty therefor : Provided that no penalty so prescribed shall excced a fine of two thousand dollars or imprisonment for one year.
(5) The Director may in respect of any particular school by notice in writing to the supervisor waive or modify the require- ments of any regulation if he is satisfied that compliance therewith is undesirable or impracticable in such school.
44. (1) For the purpose of maintaining the provident fund existing upon the coming into operation of this Ordinance in respect of teachers in schools to which grants in aid are made by the Legislative Council, the Governor in Council may by rules prescribe or provide for-
(a) the objects and method of control and management and
investment of such fund;
(b) the persons or classes who shall be eligible for member- ship, and the persons or classes who shall be compulsory contributors;
(c) the contributions and the method of payment;
(d) the method of dealing with any contribution which shall
be made by government to such fund;
(e) the constitution of a reserve fund to deal with all or a portion of fluctuation in value of investments and for the allocation thereto if necessary of any investment income of the provident fund;
(f) the method of, conditions precedent for, and authority for withdrawals and benefits and the permissible amount of withdrawals and benefits;
(g) the appointment of trustees if such should be considered
necessary, and their powers and duties,
and generally for the purpose of the maintenance of such fund whether ejusdem generis with the items enumerated in paragraphs (a) to (g) hereof or not.
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(2) There shall be charged on the general revenue all such sums as may be necessary to meet the contributions payable by Government in accordance with such rules.
(3) Subject to the provisions of such rules no contribution, donation, dividend or interest thereon shall be assignable or trans- ferable or liable to be attached, sequestered or levied upon, for or in respect of any debt or claim whatsoever.
(4) Upon the death of a contributor to such provident fund, if there is an amount not exceeding two thousand five hundred dollars payable out of his account in respect of such death, sucli amount shall be deemed to be an amount in respect of which the Accountant General, on being satisfied of the expediency of dis- pensing with probate or administration, may under section 59 of the Probate and Administration Ordinance authorize payment to (Cap. 10.) such person or persons as he may consider entitled thereto without requiring the production of probate or administration,
tulen för
45. (1) For the purpose of maintaining the building Power depreciation fund existing upon the coming into operation of this to make Ordinance for the replacement of school buildings which become building unfit for use as a result of age or other deterioration in respect of deprecia- schools to which grants in aid are made by the Legislative for grant Council, the Governor in Council may by rules prescribe or schools. provide for-
(a) the objects and method of control and management and
investment of such fund:
(b) the schools which shall be entitled to participation in such
fund;
(c) the method of dealing with any contribution which shall
be made by government to such fund;
(d) the method of, conditions precedent for, and authority
for payments out from such fund;
(6) the appointment of trustces if such should be considered
necessary, and their powers and duties,
and generally for the purpose of maintenance of such fund whether ejusdem generis with the items enumerated in paragraphs (a) to (*) hereof or not.
(2) There shall be charged on the general revenue all such sums as may be necessary to meet the contributions payable by Government in accordance with such rules.
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tion fund