Powers of the Chief Executive and the Financial Secretary
under the Mandatory Provident Fund Schemes Ordinance

Scope of Powers	Chief Executive	Financial Secretary
To appoint/ remove members; to determine the conditions of appointment/ employment	To appoint the Chairman, the Managing Director and directors of the Authority (S.6A, 6B & 6C) To remove from office any directors of the Authority, to fill the vacancy in office of directors, to determine the terms and conditions of office (including remuneration and travelling and subsistence allowances) of directors, to appoint/remove from office the Acting Managing Director (Schedule 1A) To appoint/remove from office the chairperson, the deputy chairperson and members of the MPFS Advisory Committee, and to specify their periods and terms of appointment (S.6R) To appoint the Chairman, the Deputy Chairman and members of the MPFS Appeal Board (S.35) (delegated to FS) To appoint the Deputy Chairman of the MPFS Appeal Board to act as Chairman (S.38(2))	The Authority may, after consultation with the Financial Secretary, fix the salaries, wages and other conditions of employment of its staff (S.6G(2)) To appoint/remove from office any members of the MPF Industry Schemes Committee, and to specify their periods and terms of appointment (S.6U) To appoint/remove from office acting executive directors (Paragraph 6, Schedule 1A); The director presiding at a meeting of the Authority must consult with the Financial Secretary before exercising a casting vote (Paragraph 10(2), Schedule 1A) To determine the remuneration rate of the Chairman, Deputy Chairman and members of the MPFS Appeal Board (S.35(8))
To amend Schedules/ make regulations/ give advice on making of guidelines	The Chief Executive in Council may specify in Part I of Schedule 1 the persons who shall be exempt from the MPFSO, and may vary, alter or repeal that specification(S.4(2)) The Chief Executive in Council may, by notice published in the Gazette, amend the Schedules of the MPFSO (subject to the approval of the Legislative Council, i.e."positive vetting")(S.48) The Chief Executive in Council may make MPF regulations (subject to the approval of the Legislative Council)(S.46) The Chief Executive in Council may amend Schedule 2 or 3 of the MPF (Exemption) Regulation (subject to the approval of the Legislative Council)(MPF (Exemption) Regulation S.28)	The Authority may, after consultation with the Financial Secretary, make guidelines specifying which investment practices must not be engaged in by trustees. (S.28)
Power in relation to MPFA's corporate plan, reports submitted by MPFA, and other financial matters of the Authority		MPFA must deliver the report as to the operation of the MPFSO and the activities of the Authority during each financial year to the Financial Secretary, together with the financial statements of the Authority for the financial year to which the report relates and the report of the Authority's auditor on those statements. The Financial Secretary may publish the documents delivered by MPFA in such manner as he thinks fit(S.6I) To approve the draft of the corporate plan (including the objectives, nature and scope of the activities, and a budget of estimated expenditure) of the Authority, and publish the corporate plan delivered by MPFA in such manner as he thinks appropriate(S.6J) To receive the Authority's reports as to any improvements that it considers to be necessary for its effective or efficient operation, or request the Authority to provide him with a report as to the operation of the MPFSO or the activities of the Authority(S.6K) To notify the Authority of any accounting standards that its financial statements shall comply with(S.6N) To approve the appointment/termination of appointment of an auditor of the Authority(S.6O) To approve a longer period (longer than 6 months after the end of the financial year) for the Authority to submit its financial statements to the Authority's auditor for auditing (S.6P(1)) To receive a copy of the audited financial statements and the auditor's report delivered by the Authority(S.6P(6)) To approve the manner in which the money held in the MPFA Administration Account may be invested (other than in any manner in which trust funds may be lawfully invested)(S.6Q) To approve the borrowing of money temporarily by the Authority(S.6QA)
To give directions to the Authority	To give directions, either generally or in a particular case, with respect to the exercise by the Authority of its functions (S.6E)	To approve the MPFS Advisory Committee to exercise its functions on its own initiative instead of at the request of the Authority (S.6T) To approve the MPF Industry Schemes Committee to exercise its functions on its own initiative instead of at the request of the Authority (S.6W)
To arrange funds for the compensation fund		To provide grants or loans out of money from the general revenue provided by the Legislative Council to the administrators of the compensation fund (S.17(6))
To receive information obtained by MPFA under MPFSO	MPFA may disclose to the Chief Executive information obtained by it under MPFSO, if the Authority reasonably believes that the disclosure meet any one of the three conditions provided under S.42	MPFA may disclose to the Financial Secretary any information obtained by it under MPFSO, if the Authority reasonably believes that the disclosure meet any one of the three conditions provided under S.42