THE HONGKONG GOVERNMENT GAZETTE, 17TH JANUARY, 1891.
Investment of the Fund. Conditions of Contribution.
13. All moneys belonging to the fund shall be placed on deposit in the Colonial Treasury or in such Bank as may be fixed upon by the Directors, and shall bear interest at the yearly rate of six per cent without deduction. Such interest shall be calculated on the daily balances standing in the hands of the Colonial Treasurer to the credit of such fund, and the amount of interest so due shall be computed half-yearly, and carried to the credit of such fund not later than the tenth day of January and the tenth day of July in each year. Each contributor shall be entitled to be credited in the Colonial Treasurer's books with com- pound interest on his contributions at the rate of six per` cent, computed half-yearly as aforesaid.
14. The abatement of four per cent from the salary of any contributor shall continue until such contributor shall
(1.) Have served for thirty five successive years, or (2.) Have completed the sixty-fifth year of his age, or (3.) Cease to be a public-officer,
whichever may first huppen. Provided that no contributor shall be compelled to pay any contributions towards the fund beyond such as will entitle his widow or orphans to the maximum yearly pension provided for by section 38.
15. When the salary of any contributor shall be reduced, either by his retirement on pension or otherwise, the monthly contribution to be made by him during his remaining period for contribution as laid down in the preceding section, shall be four per cent. of the actual salary or pension to which he is entitled, and the pension payable on his death to his widow or orphans shall be reduced by the same amount as would have been added to it had such contributor's salary beeu increased in the same ratio as that in which it has been diminished. But such contributor may, should he so desire, continue his previous rate of contribution for the remainder of his said period on his giving notice in writing to the directors of his intention to do so, in which case his widow or orphans shall be granted the full pension to which such rate of contribution entitles them.
16. A contributor who, for any reason except transfer to other employment under the Crown, or dismissal for misconduct, shall retire from the service without being entitled to pension, or whose office shall be abolished with- out his being entitled to a pension, shall cease to have any interest in the fund, and neither the widow nor orphan of such contributor shall have any claim upon such fund. But such contributor shall be entitled to repayment from the fund of one half of his total contributions thereto without interest, provided such.claim be lodged in the hands of the Colonial Treasurer in writing within six mouths from the retirement of such contributor from the service of the Colony.
The fund. Ibid. 4.
Cesser of contribution. Ibid. 7.
Reduction of salary. Ibid. 8 & 37.
Withdrawal from service without pension. Ibid. 9.
unmarried, &o.
Ibid. 36.
17. When any contributor, being a bachelor, or a widower withdrawal without children born in wedlock, shall retire unmarried from the service on pension, oue half his total contributions to the fund shall be repaid to him without interest, provided his claim is lodged in manner prescribed by the preceding section.
18. When any contributor shall be transferred from the service of the Colony to other employment under the Crown, he shall, from the date of such transfer, cease to contribute to the fund, but his widow or children, as the case may be, shall be entitled, on the death of such contributor, to a pension computed on the basis of the interest acquired by such contributor in the fund at the date of his transfer, in accordance with the tables hereinafter referred to. And if, when such contributor retires from the service of the Crown on pension, he is a bachelor or a widower without children born in wedlock, he may claim repayment from the fund of half of his total contributions, without interest, provided his claim is lodged in the manner prescribed by section 16.
19. No contributor who has been dismissed from the public service for misconduct nor his wife or children shall have any claim upon the fund on account of the contribu- tions of such contributor thereto.
Transfer to other employ. Ibid. 10.
Dismissal. Ibid. 11.
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