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From 1 May 2025, in respect of Hong Kong’s MPF scheme, the MPF offsetting mechanism will be abolished, meaning that employers no longer will be able to use the accrued benefits of their mandatory contributions under the Mandatory Provident Fund (“MPF”) scheme to offset employees’ severance payments (“SP”) and long service payments (“LSP”).

The Hong Kong Government has proposed to change the “continuous contract” requirement under the Employment Ordinance (Cap 57) (“EO”) from the current “4-18” requirement to a more relaxed “4-17” or “4-68” requirement.

Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss: Court considers requirement for deed of adherence under articles of association In this case, the court considered the requirement – in a set of articles of association – that a deed of adherence be executed as a condition of the directors’ approval of a share transfer. The buyer had executed the deed provided – but one of the other shareholders hadn’t. Court of Appeal considers meaning of leaver provisions In the case, the court considered the meaning of “continue in that capacity” in some leaver provisions – which affected when a transfer notice was served and, in turn, the price payable for shares.