Annex A
3.
CURRENCY AND PLACE OF PAYMENT
Subject to Clause 10, all payments to and by the Company will be made in Hong Kong dollars in Hong Kong.
10.
SPECIAL CIRCUMSTANCES
For the purposes of this Policy, Special Circumstances will be deemed to exist from the effective dates, as determined by the Company in its absolute discretion, of the following events.
(a) The termination or deemed termination of the Scheme.
The Company may, in its absolute discretion, deem the Scheme to have terminated if the administrative functioning of the Scheme becomes in the opinion of the Com- pany materially irregular or if the Policyholder fails to provide information required under Clause 12 within two months of a written request from the Company for the same or the Company exercises its discretion to deem the Scheme to have terminated in accordance with Clause 10(d).
(b) The introduction by the Government of Hong Kong, or such other authority as may at the relevant time have executive authority and control over the territory currently known as Hong Kong, of legislation or other measures of which in the opinion of the Company, the design or effect is materially
(i)
to expropriate private property; or
SPECIMEN
(ii) to introduce direct day to day control over banks, insurance companies and/or investment institutions then carrying on business in or from Hong Kong; or (iii) to prohibit the payment of any entitlement under retirement benefit schemes
established by companies doing business in or from Hong Kong; or
(iv) to tax all or any part of any retirement benefit entitlement under such a scheme before, on or after it is received by the relevant member or other person entitled thereto; or
(v) to tax all or any part of the investment income earned by the Company includ-
ed in the calculation of the Investment Return; or
(vi) to restrict, control or inhibit the rates of interest or the free exchange of cur- rencies in general or of the HK$ in particular or control the investments that may be held by the Company in respect of retirement benefit business.
(c) (i) The presentation of a petition for the winding up of the Policyholder. This Policy shall in such event automatically terminate and all Members be deemed to retire on the date of such presentation. The Members' Benefits shall be calculated as at such date and will be held in trust by the Company for a period of six clear calendar months thereafter. At the end of this period the Members will be deemed to have become entitled to receive such Benefit in accordance with Clause 7. (ii) If the petition referred to in Clause 10(c) (i) is withdrawn or dismissed within the aforesaid six months, the Company may in its discretion, reinstate the Policy subject to the payment by the Policyholder of such administrative fee as the Company may require, and the termination of the Policy and the deemed retire- ment of the Members will be deemed not to have taken place.
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