Cap. 450 Art. 22Liability of the retirement fund administrator or retirement scheme administrator. retirement scheme administrator.

In the discharge of their responsibilities, and without prejudice to the liability for damages under any other law, the retirement fund administrator and retirement scheme administrator shall be liable for any loss or damage suffered as a result of fraud, fund.

(2) The Authority may at any time cancel or suspend the registration of the retirement fund administrator or retirement scheme administrator if -

(a) the Authority considers that such person is not fit and proper to carry out the function required of it in connection with the retirement fund or scheme; as the case may be; or

(b) information has been furnished to the Authority by or on behalf of the administrator which is false, inaccurate or misleading.

(3) The Authority shall, in the exercise of its powers under subarticle (2), have regard to all relevant matters and shall act in the best interests of the beneficiaries.