A group of parents have accused private school Han Academy of failing to refund debentures as promised after their children left the school.

According to the Wong Chuk Hang institution's website, parents who enrol their children from the 2020-21 academic year must join a capital contribution scheme.

One of the options is a debenture of HK$600,000. HK$45,000 is deducted every year and the remaining amount can be refunded when the student leaves the school.

Police said they received complaints from 11 parents, involving about HK$5.8 million. The force has listed the matter as a request for police investigation.

In response to media enquiries, the Education Bureau said it had instructed the school to suspend its capital contribution scheme in April and establish an emergency response plan.

The bureau added it had received complaints from three parents so far and had urged the school to refund the money as soon as possible.

A statement added that any individual fundraising scheme by private schools has to be vetted and approved by the bureau. So far 23 schools have made such applications.

However, Secretary for Education Christine Choi pointed out the vetting mechanism was not in place when Han Academy opened in 2017.

"The school was established in 2017 and back then we didn't have the vetting mechanism. Since the mechanism was set up in August 2023, we have been reviewing its additional charges," she told reporters.

Choi added the bureau has demanded the school stop collecting additional fees from parents after realising it has run into financial trouble.

She also revealed more than 100 students are currently enrolled at the academy, and the bureau will make sure it maintains its teaching quality.

DAB lawmaker Edward Leung said he has received feedback from more than 50 parents who allege they haven't had their money back.

He said they are worried about the school's financial situation and that it might close down.

"The parents also have heard that the school's owner intends to wind up the school through legal means due to the ongoing unpaid rent... A couple of days ago the school also held a meeting with the parents and announced that they are in debt of HK$100 million," he told RTHK.