MPF exam ORSO / MPF Interface question: After a bona fide merger

Answer: D. exemption may still be granted, as successor schemes are an exception to the 3 May 2000 deadline

Answer: exemption may still be granted, as successor schemes are an exception to the 3 May 2000 deadline. A successor to a relevant ORSO registered scheme, set up through restructuring or a bona fide business transaction such as an amalgamation, may still be granted MPF exemption after 3 May 2000.Why not the others:• the application must be refused, as no MPF exemption is granted after 3 May 2000: the 3 May 2000 cut-off has an exception for successor schemes created by restructuring or bona fide business transactions.• exemption may be granted only if the new scheme is set up as an ORSO exempted scheme: the exception covers successors of relevant ORSO registered schemes; there is no requirement to become an ORSO exempted scheme.• exemption may be granted, but transferred existing members lose their existing member status: existing members transferred to a successor scheme that obtains MPF exemption may keep their existing member status.Watch out: Applying the 3 May 2000 deadline without its successor-scheme exception.Rule: Successor scheme of a relevant ORSO registered scheme (restructuring or bona fide business transaction) may get MPF exemption after 3 May 2000; existing members may keep their status.Source: MPF Study Notes, Tenth Edition (June 2026; examinable from 1 Oct 2026), section 6.3 (checked 31 Oct 2026)