ORSO

The person who has the duty or power to retire or appoint a trustee shall obtain MPFA’s prior written approval before:

• appointing or retiring an individual trustee
• appointing or retiring a corporate trustee, which is not a registered trust company (a) incorporated in Hong Kong or (b) being a re-domiciled company (as defined in the Companies Ordinance (Cap.622)) (“re-domiciled company”),
• appointing or retiring the director of a corporate trustee which (a) is not a registered trust company or (b) is a company incorporated outside Hong Kong but is not a re-domiciled company, and not comparable to a registered trust company