1971-HKRS30-16-30_Part05 — Page 57

INLAND REVENUE ORDINANCE.

(Chapter 112).

INLAND REVENUE (RETIREMENT SCHEME)

(AMENDMENT) RULES 1971.

la exercise of the powers conferred by section 85 of the Inland Revenue Ordinance. We, the Board of Inland Revenue, hereby make the following rules-

1. These rules may be cited as the Inland Revenue (Retire- ment Scheme) (Amendment) Rules 1971.

2 The Schedule to the principal rules is amended by delet- ing paragraph 3 and substituting the following-

**3. The benefits afforded by the retirement scheme shall accrue only-

(a) on retirement from the service of the employer at some specified age of not less than forty-five years:

Or

(b) on retirement after some specified period of service with the employer of not less than ten years; Or

(c) on attaining the age of sixty years or some specified

age for retirement whichever is the later; or

(d) on earlier incapacity or death.

Where, however, the retirement scheme provides for propor- tionate or reduced benefits in the event of an employee leaving the employer's service prior to attaining the specified age or completing the specified period of service, the provision for such benefits shall not in itself disqualify the scheme from approval.".

Dated this 17th day of June 1971.

Citation.

Amendment of Schedule.

(Cap. 11. rub. Hew.)

J.J. COWPERTWAITE

Chairman.

G. M. MACWHINNIE,

Member,

P. C. Woo, Member.

D. W. A. BLYB,

Member.