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Article 37 (Duties of management companies)

The management company shall be responsible for all acts and operations that are required or appropriate for the good administration and management of the pension fund, namely:

  • a)

    To represent, regardless of any mandate, the associates, participants, contributors and beneficiaries of the fund in exercising all the rights arising from the respective shares;

  • b)

    To select the assets constituting the fund in accordance with the respective investment policy;

c) To receive the fixed contributions and to guarantee the payments due to beneficiaries;

  • d)

    To maintain in good order its records and those of the fund;

  • e)

    To register with the real estate registry, in the name of the fund, the

immovable properties forming part of its assets.

Article 38 (Forbidden acts)

The management company is specifically forbidden:

  • a)

    To burden in any way the assets of the fund;

  • b)

    To acquire its own shares;

  • c)

    To provide credit, except where the management company is an insurer

authorised to transact life insurance business in the territory of Macau, insofar as this does not affect investments in pension funds.

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