Before the MPF System was launched (in 2000), retirement schemes set up voluntarily by employers for their employees were regulated under the Occupational Retirement Schemes Ordinance (ORSO). These ORSO schemes were exempted from MPF requirements as long as they met certain conditions, but the MPFA is now responsible for regulating both MPF schemes and ORSO schemes, under the MPFSO and the ORSO respectively. This regulatory work is carried out on the basis of the relevant legislation, as well as guidelines and codes covering these schemes, under the regulatory structure shown here.