The Hong Kong (Overseas Public Servants) (Retirement and Compensation) Order 1996

Calculation of compensation: superseded officers

9.—(1) This article applies to the calculation of compensation under this Order for entitled officers who retire in accordance with article 3 of this Order and have received compensation under the Limited Hong Kong Scheme on being superseded for promotion.

(2) The same calculations shall be made in respect of the entitled officer as are directed in article 8(2) to produce a sterling figure.

(3) The lump sum paid to the entitled officer as compensation under the Limited Hong Kong Scheme shall be converted into sterling at the rate of exchange between the HK dollar and the £ sterling at the date the lump sum was paid to the officer and the sum in sterling shall be increased at the rate of five per cent per annum from the date of payment of the lump sum to the appointed day.

(4) If the figure arrived at in accordance with paragraph (3) equals or is greater than the figure arrived at in accordance with paragraph (2), no compensation is due under this Order. If the figure arrived at in accordance with paragraph (2) is greater than the figure arrived at in accordance with paragraph (3), then, subject to article 11(1)(a), the difference or the maximum sum, whichever is the less, is the compensation due to the entitled officer.