HONG KONG
LEGAL REPORT
INSURANCE COMPANIES (AMENDMENT) ORDINANCE 1988
(No. 34 of 1988)
Enclosure No. 2
This Ordinance amends the Insurance Companies Ordinance for the following purposes
(a) to give the Insurance Authority a discretion to determine when conditions imposed under section 8(1)(a) of the principal Ordinance on the authorization of a company as an insurer are to be revoked (section 3);
(b)
(c)
2.
to empower the Insurance Authority to direct that an authorized insurer ceasing to carry on part of any class of insurance business which it is authorized to carry on shall cease to be authorized to carry on insurance business forming that part
(section 5); and
to insert provisions akin to sections 120 and 121 of the Banking Ordinance to clarify the circumstances in which information obtained under the principal Ordinance may or may not be disclosed (section 6).
Before the Governor assented to the Bill in the name and on behalf of Her Majesty, the Attorney General advised that he could properly do so.
Law Draftsman.
12 June 1988.
ATTORNEY GENERAL'S CHAMBERS,
HONG KONG.
Аш