The Legislative Council today passed the Mandatory Provident Fund Schemes (General) (Amendment) Regulation 2006 to enhance investment regulations governing these funds in Hong Kong. 

The Financial Services & the Treasury Bureau noted the amendment aims to better protect scheme members' interests and improve existing investment regulations.

It also helps to enhance flexibility and remove unnecessary restrictions on MPF investments.

The amendment will be gazetted on June 16 and become effective in about three months to allow time for MPF service providers to adjust existing investment portfolios and relevant systems.

The Mandatory Provident Fund Schemes Authority will issue guidelines for the amendment's implementation.